Metals & Mining Theme, Fertilizers, Chemicals, Coal, Refined Products, Maritime & Shipping, Non-Ferrous, Ferrous, Fuel Oil, Bunker Fuel

November 01, 2023

Platts launches Platts Dry Index reflecting global freight market

Platts has launched the Platts Dry Index, a combined dry bulk freight industry marker derived from weighted average time charter equivalent (TCE) indexes including the Capesize-Cape T4, Kamsarmax-KMAX 9, Ultramax-APUI 5, Supramax-APSI 5, Ultramax-AUI 6, and the Supramax-ASI 6, from Nov. 1, 2023.

The Platts Dry Index, which is based on trade flow volume accrued on various dry bulk segments, and published basis 0.5% sulfur bunker fuel and scrubber fitted ships, is an indicator of the global dry bulk shipping market's performance. It captures the demand for moving widely consumed commodities such as grains, coal, chrome, copper, manganese, nickel, iron ore, steel, alumina, bauxite and spodumene.

The Platts Dry Index is published in dollars per day ($/Day) and is derived by applying an allocated weighting to the daily Cape T4, KMAX 9, APUI 5, APSI 5, AUI 6 and ASI 6 indexes published at 5:30 pm (0930 GMT) Singapore close and at 4:30 pm (1630 GMT) London close.

The index assessment will not be published on days when either Singapore or London, or both locations have a public holiday.

Weighting for the individual indexes is determined by the volume of Capesize, Kamsarmax, Ultramax and Supramax vessel movements observed between the trading regions over the last three years from Platts trade flow system Commodities At Sea (CAS). It is calculated in ton-miles.

Ton-mile demand is calculated by multiplying the volume of cargo moved in metric tons by distance traveled in miles.

Platts may review the weightage in the event of a substantial change in observed trade flows.

The weighting for the Platts Dry Index is as follows, based on flows observed over Jan. 1, 2020, to Dec. 31, 2022:

Vessel Index Symbol code Weighting (%)
Capesize Cape T4 ACAZA00 60%
Kamsarmax KMAX 9 AKMIA00 25%
Ultramax   APUI 5 APUIA00 5%
Supramax APSI 5 APSIA00 5%
Ultramax AUI 6 AUIXA00 2.5%
Supramax ASI 6 AIDXA00 2.5%

Above basis Bunker Fuel 0.5%

Vessel Index Symbol code Weighting (%)
Capesize Cape T4S CAPT400 60%
Kamsarmax KMAX 9S AKMIB00 25%
Ultramax   APUI 5S APUIB00 5%
Supramax APSI 5S APSIB00 5%
Ultramax AUI 6S AUIXB00 2.5%
Supramax ASI 6S AIDXB00 2.5%

Above basis Scrubber Fitted

The Platts Dry Index appears in Platts Dry Freight Wire and on Shipping Alert pages 2614, 0612, 2615 and 0613 under the following price database codes:

Index Description Daily Monthly average
Platts Dry Index Basis 0.5% Bunker Fuel Index DGXIB00 DGXIB03
Platts Dry Index Basis 3.5% Bunker Fuel Index (Scrubber-Fitted) DGDIB00 DGDIB03

Please send all comments or questions to shipping@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.