Baltic Exchange LNG Family (BLNG)

New LNG Routes commencing Public Trial

In July 2020 BEISL initiated a consultation which determined that the existing fuel for the LNG carrier description should be changed from marine fuel oil to LNG.  The proposed fuel change reflects the current market practice of burning LNG as the primary fuel and that LNG is recognised as a transition away from marine fuel oil in the decarbonization journey.
 
Following consultation with market participants and Baltic Panellists the Baltic Index Council has approved moving to a public trial of the new LNG fuel based indices.  In reaching its decision, the Baltic Index Council considered and took into account the feedback and information provided on the issues raised in the consultation process, in line with the Baltic’s Guide to Market Benchmarks. A summary of the comments received in response to the consultation paper is attached and available on balticexchange.com, a copy of the LNG forum presentation is also available.
 
Following a successful private trial the public trial will commence 2 February 2021. 
 
The Baltic standard LNG vessel has the following speed and consumption specification when burning LNG as a fuel
17 knots on 210 cbm LNG/day laden
16 knots on 190 cbm LNG/day ballast
0.1% boil off
Port consumption 42 cbm LNG/day idle
Port consumption 85 cbm LNG/day working

Baltic Exchange Liquified Natural Gas Family

BLNG  Baltic LNG Index
Composite Index:  Average(BLNG1, BLNG2, BLNG3)

BLNG1  $/day  LNG Australia to Japan RV
Delivery Gladstone, loading 25-40 days from Index date, for a derived round voyage via Tokyo of 22 days duration, with redelivery Gladstone, based on daily hire and lumpsum assessments with 1.25% total commission. Basis the Baltic LNG carrier burning marine fuel oil, delivered cold ready to load. 
 
BLNG2  $/day  LNG US Gulf to Continent RV
Delivery Sabine, loading 25-40 days from Index date, for a derived round voyage via Isle of Grain of 28 days duration, with redelivery Sabine, based on daily hire and lumpsum assessments with 1.25% total commission. Basis the Baltic LNG carrier burning marine fuel oil, delivered cold ready to load. 
 
BLNG3  $/day  LNG US Gulf to Japan RV
Delivery Sabine, loading 25-40 days from Index date, for a derived round voyage via Tokyo of 53 days duration (routing via Panama Canal), with redelivery Sabine, based on daily hire and lumpsum assessments with 1.25% total commission. Basis the Baltic LNG carrier burning marine fuel oil, delivered cold ready to load. 
 
BLNG1g  $/day  LNG Australia to Japan RV (Trial)
Delivery Gladstone, loading 25-40 days from Index date, for a derived round voyage via Tokyo of 23 days duration, with redelivery Gladstone, based on daily hire and lumpsum assessments with 1.25% total commission. Basis the Baltic LNG carrier burning LNG fuel, delivered cold ready to load. 
 
BLNG2g  $/day  LNG US Gulf to Continent RV (Trial)
Delivery Sabine, loading 25-40 days from Index date, for a derived round voyage via Isle of Grain of 29 days duration, with redelivery Sabine, based on daily hire and lumpsum assessments with 1.25% total commission. Basis the Baltic LNG carrier burning LNG fuel, delivered cold ready to load. 
 
BLNG3g  $/day  LNG US Gulf to Japan RV (Trial)
Delivery Sabine, loading 25-40 days from Index date, for a derived round voyage via Tokyo of 54 days duration (routing via Panama Canal), with redelivery Sabine, based on daily hire and lumpsum assessments with 1.25% total commission. Basis the Baltic LNG carrier burning LNG fuel, delivered cold ready to load. 
 
LNGC160  Vessel  Baltic Standard LNG Carrier
91,500 mt dwt TFDE propulsion. 160,000 cbm capacity. 17 knots on 100mt marine fuel or 210cbm LNG laden.  17knts on 95mt marine fuel or 16knts on 190cbm LNG ballast, 0.1% boil off. Port consumption idle 20mt marine fuel or 42cbm LNG per day and consumption working 40mt marine fuel or 85cbm LNG per day. Max age 20 yrs.


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