Ref: TC6 - 30,000mt Algeria to European Mediterranean forward curves

With reference to the Worldscale Circular 17/2020 dated 15 May 2020, where the flat rate for Skikda was amended to reflect the recent increase in towage costs at that port. The Worldscale change has implications on the FFA market and the forward curves. 

The Baltic needs to follow due process prior to implementation of change and the lack of advance notice of the Worldscale announcement has not given sufficient time for the Baltic to consult with the Market prior to reacting to the change in the flat rate.

Market NoticeTC6 forward curves will continue to be calculated using the old Skikda flat rate until further notice.

The Baltic has prioritised the consultation process and will inform the market of its decision on completion. 

Any feedback or questions should be directed to balticbroker@balticexchange.com