Platts to launch weighted average Global Supramax dry bulk TCE indexes from Dec 2

Platts, part of S&P Global Commodity Insights, will publish new daily global weighted average Supramax time charter equivalent, or TCE, indices reflecting Atlantic and Pacific trade, basis 0.5% sulfur bunker fuel and scrubber-fitted ships, and comprising ton-mile rates of eleven key TCE assessments, from Dec. 2, 2024. The new indices will be called GSP 11 and GSP 11S.

The GSP 11 index will be a demand-weighted average of eleven key time charter equivalent assessments basis 0.5% sulfur bunker fuel, while GSP 11S will be an average of the same TCE assessments basis scrubber-fitted ships.

These new indexes will reflect an important part of the global dry bulk market that is otherwise not reflected in existing price benchmarks. Supramax vessels in both the Atlantic and Pacific Ocean typically remain within the regions and the associated flows depend significantly on triangulation, which helps to minimize ballast time as well as boost tonnage utilization and earnings.