We would like to reassure users of Baltic Exchange freight benchmarks of our ability to continue to provide accurate and timely data.

The current pandemic is, of course, unprecedented, both in terms of scale and reach, and it is therefore conceivable that there will continue to be short periods of reduced liquidity, and increased volatility, in all markets, including the seaborne freight market. Whilst the Baltic Exchange acknowledges this, it also recognises the underlying resilience of the shipping market. Given its exposure to such a broad range of markets, the Baltic Exchange, and its Members, are ideally placed to identify any improvement in market dynamics.

It is important to highlight that as a regulated benchmark administrator the Baltic, and our panellists, have business continuity plans to ensure regular reporting. These plans include considerations for working from home effectively. The Baltic’s freight market reporting team is currently working from home and in daily contact with panellists.  Our systems, processes and Panellists have so far proven to be robust.

Despite the severe challenges presented by the Covid-19 outbreak, we have confidence in the Baltic Exchange’s ability to publish daily data. We will of course continue to monitor the situation carefully.