Family:  BDTI / BCTI / BLPG

Index: All EUETS Applicable Routes  

Category: Market Announcement: Tanker EUETS Consultation Summary

 

On 17 July  2024 The Baltic Exchange published a circular MC/Tankers/202407/20/N  seeking further market feedback on the future inclusion / exclusion of EU ETS costs in the daily published indices.

The consultation ran until 20 August 2024 whereupon the results of the feedback were summarised in the attached document ( Tanker EUETS Consultation Summary August 2024 ) and presented to the Baltic Index Council (BIC) with recommendations for their consideration.  

A summary of the Baltic recommendations are as follows;

  • The decision by Worldscale to produce an additional flat rate that excludes the cost of EUETS (Worldscale September 2026 notice) replaces the need for the Baltic to publish two indices

  • For routes assessed in Worldscale: From January 2025, Panellists will be instructed to assess, including EUETS cost, where they are included in the flat rate.  (Worldscale May 2024 notice)

  • Routes assessed in USD (TC8, TC15, TC20, LPG2): From January 2025 Panellists will be instructed to assess including the cost of EUETS. 

  • From January 2025, for selected indices, the Baltic will calculate and send to the CCPs, two USD values based on the two flat rates published by Worldscale. It will be for the CCPs will inform their customers which value they will use to settle contracts.

  • The Baltic will provide, on request, the USD value excluding EUETS, to data subscribers holding settlement licences.        


If you have any further questions please do not hesitate to contact Balticbroker@balticexchange.com.

Circular ID: MA/Tankers/202409/29/N