Samudra Se Samriddhi
- Foundation Stone Laying & Inauguration of MoPSW Projects
- New container terminal and other projects at Shyama Prasad Mukherjee Port, Kolkata. New container berth, cargo handling facilities and other projects at Paradip Port.
- Multi-Purpose cargo berth off Tuna Tekra at Deendayal Port, Kandla.
- Green Bio-Methanol Plant, Oil Jetty and other projects at Deendayal Port, Kandla.
- Mumbai International Cruise Terminal (MICT) at Indira Dock, Mumbai Port.
- MoU between CSL and HD KSOE for ship building.
MoU between SCI & IOCL, BPCL and HPCL for vessel demand aggregation. - US-India tariff truce likely in the next two months, as said by the Chief economic adviser (CEA) Mr. V. Anantha Nageswaran struck an optimistic note on Thursday. Speaking at an Industry gathering in Kolkata, he believed Washington would soon roll back the additional 25% tariff imposed on India for buying Russian Oil. Reciprocal tariff of 25% may also come down to levels somewhere between 10-15%.
- India’s Exports in August rise 6.7% to $35.64 billion ; Imports drop 10% with trade deficit during August narrowing to $26.49 billion.
- EU needs deals with India, others to cut US reliance, as said by the EU President Ursula von der Leyen on Thursday, to reduce dependencies, with higher US import tariffs pushing the bloc to diversify its ties. We want to make a deal with India this year, said at a conference with German business leaders.
- Operators of Iran’s Chabahar Port to face US Sanctions beginning 29th September, a decision that will have implications for India. The move is consistent with Pres. Trump’s maximum pressure policy to isolate the Iranian regime.
- IOC, L&T. others eye crude reserve. Multiple energy and engineering giants including IOC, Trafigura, Vitol and L&T., have shown interest in developing a strategic crude reserve at Chandikhol, Odisha. Afcons Infrastructure, BPCL, HPCL and Hindustan Mittal Energy Ltd. (HEML) have also shown initial interest in building the storage of 4 million tonnes capacity. The reserve would require around $1 billion to develop and an additional $2 billion to fill it. Strategic Petroleum Reserves (SPR’s) are built underground in rock and salt caverns, often near refineries and ports. India has been stockpiling ever since the first SPR opened in Visakhapatnam a decade ago. The latest push comes after a recent West-Asia conflict, the conflict on Indian border underlines the importance of such critical reserves for India, the world’s third largest energy consumer that imports 85% of its crude requirements and consumes 5.5 mio barrels of crude per day.
- EU eyes deeper India ties despite Russian concerns. The EU commission set out plans to deepen co-operation with India in fields such as defence, technology and trade, despite tensions over New Delhi’s close ties to Moscow. The EU and India are in final stages of negotiating a FTA, aimed to be concluded by end of 2025.
- U.S. Clears $780 million missile sale to Poland.
- US President Donald Trump and his Chinese counterpart Xi Jinping are expected to hold a call today to determine the fate of TikTok—and potentially ease trade tensions. The Washington Post reported Trump has declined to approve a military aid package for Taiwan as he pursues a deal. China is also seeking an edge by shunning American soybeans for the first time in decades.
- The EU plans to accelerate its phaseout of Russian liquefied natural gas imports, people familiar said. The US has called on Europe to quicken its wind-down of Russian fuel imports and has pressured allies to impose higher tariffs on India and China for their purchases of Russian oil.
· P&I claims hit a ten-year peak
Lockton, the world’s largest independent insurance broker, has released a report highlighting mounting financial pressures on the International Group of P&I Clubs despite modest premium increases. The report also highlights the crisis of suicides at sea.
Lockton, the world’s largest independent insurance broker, has released a report highlighting mounting financial pressures on the International Group of P&I Clubs despite modest premium increases. The report also highlights the crisis of suicides at sea.
The 2024/25 policy year saw the clubs report a collective underwriting loss of $312m, reversing two years of surpluses and resulting in a net underwriting loss of $98m over the past three years.
P&I claims hit a ten-year peak – with fires and electric vehicles emerging as new flashpoints for shipowners Net claims reached $3.1bn, up 25% year-on-year and 16% above the five-year average. Several clubs have pointed to the rising threat of fires as an increasing driver of major losses.
“This reflects both the risks of an ageing fleet and the growing prevalence of mis-declared or hazardous cargo, including electric vehicles,” Lockton stated in a release.
In addition, inflationary pressure on materials and labour, combined with greater damages arising from modern port upgrades, continues to drive up the cost of claims, Lockton pointed out.
War-related incidents, particularly in the Red Sea, rerouting via the Horn of Africa, sanctions and tariff-related costs all contributed to higher claims. Longer voyages not only raise costs but also expose vessels to new risks, including weather delays and mechanical breakdowns, Lockton explained.
In terms of crew claims, suicide remains the leading cause of death at sea, the report pointed out.
Pool claims make 2024/25 one of the worst years on record – and the true cost may be even higher. Historically, pool claims have shown substantial back-year deterioration, meaning today’s figures may understate the true cost. Assuming claims for 2024/25 deteriorate in line with historical trends, it will produce an overall total of approximately $775m. A lack of transparency around pool claims reporting only adds to uncertainty in the market.
Despite rate hikes, P&I premium income is “stuck in neutral”, Lockton said with churn and higher deductibles blunting gains. Despite an average 5.2% general increase, total premium income remained flat at $3.96bn, held back by churn – the replacing of older, higher-rated tonnage with new, lower-rated tonnage. Other potential factors include a growing willingness among members to trade rate rises for higher deductibles. This dynamic highlights the pressure on shipowners’ operating costs, as many seek to manage premiums by absorbing greater risk themselves. Lockton’s analysis shows churn has reduced rates by an average of 7.4% annually over the past decade, outpacing most general increases.
Clubs generated $711m in investment returns, offsetting some underwriting losses. With high interest rates in 2024/25, even conservative investment portfolios delivered meaningful gains. As central banks signal rate cuts through 2025, those exceptional returns may moderate, though the shift back into fixed income markets should provide a degree of stability.
Free reserves across the group rose 4.81% to $5.96bn, with some clubs returning capital to members at the 2025 renewal. While this underlines the sector’s resilience, reserves per tonne – used as a measure of a club’s exposure – remain below pre-2020 levels. At 2026 renewal, Lockton expects clubs will return capital to the membership once again, albeit to a lesser extent than in 2025.
Looking ahead, Lockton forecasts general increases of 5–10% for the 2026 renewal. The early view of the 2025 policy year is that claims are not as high as seen in 2024. However, clubs will strive to balance their underwriting and mitigate against continued inflation.
“This year has underlined just how fragile the balance is for P&I clubs. We’ve seen decade-high claims driven by fires and geopolitical shocks, while premium income has barely shifted. Investment returns have been a lifeline, but they can’t mask the structural pressures of rising costs and long-tail liabilities. As we look ahead to the 2026 renewal, shipowners should prepare for further rate increases – the real question is how clubs will balance the need for financial stability with the realities of a highly competitive market,” said Pippa Atkins, manager, Lockton P.L. Ferrari.
· Tsao and Nustad launch $75m Asia Ocean Fund
Two high-profile names from opposite sides of the world — Asian shipping tycoon Chavalit Frederick Tsao and Norwegian impact investor Tharald Nustad — have teamed up to create a new ocean impact vehicle aimed squarely at Asia.
The pair yesterday unveiled the Asia Ocean Fund, a $75m investment initiative co-managed by Tsao’s Octave Capital and Nustad’s Katapult Ocean.
The fund positions itself as among the first and largest in Asia focused on the blue economy, targeting maritime decarbonisation, ocean renewables, green port infrastructure, biodiversity and restoration projects, circular resources, and sustainable aquaculture. The first accelerator is slated for the first half of 2026, with a goal of backing 20 start-ups within five years.
“Oceans are a shared global lifeline and an investment frontier for regeneration. Asia is at the frontline of both challenges and opportunities. By channelling capital into ocean solutions here, investors can unlock growth while tackling urgent environmental and social needs,” said May Liew, CEO and executive director of Octave Capital.
“Asia’s blue economy holds immense promise, but what’s been missing is the bridge between innovation and capital,” said Jonas Skattum Svegaarden, CEO of Katapult Ocean. “The Asia Ocean Fund is that bridge—de-risking early-stage ventures, attracting broader investment, and empowering entrepreneurs and the Asian ecosystem to drive the global transition towards a thriving ocean economy.”
· Diana Shipping scores firm price for latest Ultramax sale
Greece’s Diana Shipping has revealed it has sold an ultramax it partially owns for what brokers describe as a very firm price.
The nine-year-old DSI Drammen Ultramax has fetched a price of $26.86m, the New York-listed company said in a statement. The buyer has not been revealed.
Diana Shipping holds a 25% interest in the limited partnership, while the remaining 75% of the limited partnership is owned by Ecobulk, a Norwegian entity.
Diana Shipping’s fleet currently consists of 36 dry bulk vessels ranging in size class from Newcastlemax to Ultramax.
· Shipping’s big climate moment is here, but will it live up to its promise?
Something great – and long-overdue – finally happening.
The week started with a powerful endorsement from over 180 global shipping companies for the historic shipping climate regulation, the IMO Net-Zero Framework, the world’s first meaningful emission pricing system on any international polluter.
The IMO’s agreed, legally-binding mechanism will require shipping companies to gradually reduce the carbon intensity of the energy they use on ships in line with set targets, and pay penalty fees if they fail to do so. It’s also expected to generate $10-15bn a year from 2030.
Ships are a major facilitator of global trade, but their reliance on fossil fuels means that they produce more emissions than most individual countries worldwide.
The Net-Zero Framework is unique, because at a time of great geopolitical strain, it provides much-needed proof that multilateralism can still deliver climate action. It also signals clearly to the industry that the age of fossil-fuelled shipping is coming to an end.
But nothing is perfect and there’s still important work to be done to get the framework into the shape that the industry, vulnerable countries and the climate desperately need it to be.
Critical policy details on revenue spending and energy pathways need to be clarified in the framework’s guidelines between now and 2027, when the mechanism enters into force. These details will determine whether shipping will maintain its leadership as a true climate and equity champion, powered by renewable energy and helping to drive the green energy revolution in developing countries, or whether it will prop up false, higher-emission fuels and technologies, stalling the transition and leaving climate vulnerable countries behind.
First of all, the IMO has the opportunity – and a duty – to address the inequity that is deeply rooted in the shipping industry, by ensuring a fair and equitable distribution of the revenues collected in the IMO fund.
The revenues from this fund will be critical to support countries at the frontline of climate change with maritime upgrades to zero- emission, which will require investments in ports, fleets, seafarers training and resilience of supply chains as well as finance for adaptation and resilience.
But the positive impact of the revenues can go even further.
The fund could provide the financial guarantees for green industry projects in developing countries that have bountiful renewable energy sources and are best positioned to be our future renewable energy hubs, supplying green hydrogen, green ammonia and other e-fuels for domestic purposes but also to power shipping.
E-fuels are essential for shipping to achieve its long-term climate targets, and the growing demand for this energy would help unlock jobs and growth across Africa and South America. This would not only help improve people’s lives and prosperity, but also ensure production ramps up for shipping’s zero-emission energy transition.
But making this happen will also require the IMO to provide clear incentives and rewards in the framework for the uptake of e-fuels.
Energy producers and shipowners have been calling for e-fuels incentives for years, to provide market certainty to scale up investments. If the IMO fails to deliver now, e-fuels would have to compete with cheaper but unsustainable dead-end solutions, like fossil gas (LNG) and biofuels, up until 2040, with many countries missing out on the economic growth that would be delivered through the uptake of e-fuels.
Expanding shipping into unsustainable feedstock biofuels has also been of particular concern to clean transport and nature conservation groups who are calling on the IMO to close the door for this type of fuel altogether, due to its serious environmental and climate impacts.
They argue the best way the IMO can avert environmental disaster caused by feedstock biofuels is by considering the full lifecycle of emissions from energy use on ships in the Life Cycle Assessment (LCA) guidelines. This includes Indirect Land Use Change (ILUC), e.g. the impacts on land, which would provide the full clear picture of what impact different energy sources may have.
The IMO Net-Zero Framework is a promising start, with a clear majority of countries at the IMO and the maritime industry firmly behind it. But it needs a strong design to live up to its fullest potential as an accelerator of the clean transition, and as a driver of growth and prosperity in developing countries.
As governments meet in London again in October to formally adopt the Framework and kick-off crucial discussions about the guidelines, we need countries to show commitment to what they started and make the Net-Zero Framework a true beacon of global cooperation, solidarity and climate action.
· LPG freight rates soar as Sino-US tariff truce fuels Asian buying spree
Baltic Exchange’s BLPGI, BLPG1and BLPG3 have been climbing steadily since the height of the US-China tariff exchange
Tariff pause has prompted more Chinese imports at current tariff rates of 10%
Looming port fees could support freight rates come October 14 as shipping lines reshuffle carriers to offtake US LPG
China’s Cosco and Cansi back IMO net zero plan ahead of pivotal vote | Chinese shipping giant Cosco refuses to buckle under US port fee pressure | Can the IMO wait out the geopolitical storm?
· Hectic’ season: More shipping bonds to be issued as US investors take bigger bite of Oslo market
Arctic sees record shipping issuance volume in 2025
The Nordic high-yield bond market is hot again after the summer lull. Arctic Securities expects more shipping bonds to follow in the months ahead, adding to an already busy season.
· Freight Investor Services expands into LPG market with new hires from rival
LPG desk will be spread across three key global shipping hubs Derivatives and commodity brokerage Freight Investor Services (FIS) has launched an LPG desk with a series of new hires in Singapore, Dubai and London. The move is aimed at expanding derivatives coverage and bringing new products to its customers. The desk will be headed by Rohan Unni, who is joined by Jules Emmet, Morison Woo, Benjamin Stephens and Ivan Teo.
· Shipowners Frontline, Bahri and more unite to express ‘grave concerns’ with IMO carbon deal
Group demands key amendments before adoption at October meeting A group of prominent shipowners jointly expressed “grave concerns” about the greenhouse gas regulation scheduled for an October vote at the International Maritime Organization. The companies — including John Fredriksen’s Frontline, Evangelos Marinakis’ Capital Group and Bahri of Saudi Arabia — have issued a joint statement to Reuters calling for key amendments to the Net-Zero Framework.
After a historic draft agreement in April, the IMO’s Marine Environment Protection Committee is scheduled to vote on new rules that include a fuel standard capping greenhouse-gas emissions, a price on carbon and rewards for over-compliance.
· Anonymous hackers target vessel masters in a fake email shipping deals scam
Online reconnaissance identified senior tanker crew to spread emails infected with spyware to shipping companies. Cyber attackers targeted ship masters in a first-of-its-kind operation to spy on the shore-based computer systems of their employers, according to experts.
Hacktivists contacted masters and first officers of oil tankers and gas carriers using infected emails offering shipping deals that would be forwarded to shore-based managers for consideration, according to security company CyberOwl, now part of DNV.
Tanker Market: Is an Oil Supply Glut on the Cards?
With crude oil flows patterns still very much fluid, tanker market participants are closely monitoring oil demand and supply fundamentals. Russian seaborne crude exports in August reache 3.40 million b/d, inching higher from July’s 3.35 mbd but remaining below the 3.5-3.6 mbpd levels seen between March and May. The marginal m-o-m rise masks important shifts in trade flows; shipments to India plunged by 21% to 1.30 mbpd, the lowest since January, while China’s intake rose 12% to 1.11 mbpd, a fresh high for the year. The dynamic between India and China is once again at the heart of the Russia’s seaborne trade patterns, with the two Asian giants absorbing more than 70% of the total flows.
More than 500 alternatively-fuelled container ships now on order.
As of end August, 205, 534 container ships are on order which will be able to use alternative fuels on delivery. These represent 53% of ships on order and 77% of the TEU. In addition to these alternatively-fuelled ships, the order book also includes 321 ships that will use heavy fuel and another 155 ships that will be delivered ready for future conversion to alternative fuels. Alternative fuels have proven particularly popular for the largest ships.
BALTIC INDICES 18/09/2025
DRY INDEX: 2205 (+25)
CAPESIZE INDEX: 3411 (+111)
PANAMAX INDEX: 1881 (-42)
SUPRAMAX INDEX: 1492 (0)
HANDYSIZE INDEX: 809 (+4)
BCI TC AVG $/DAY 28288 (+922)
BPI82 TC AVG $/DAY 16928 (-380)
BSI TC AVG $/DAY 18861 (0)
BHSI TC AVG $/DAY 14569 (+81)
TIMECHARTER
‘Shun Chang’ 2010 93322 dwt dely Pohang 19/21 Sep trip via EC Australia redel Malaysia $11,750
‘Welprofit’ 2011 93249 dwt dely Tanjung Bin 21/23 Sep trip via Indonesia redel Philippines $15,250 –
Cobelfret
‘Yue Dian 85’ 2011 87329 dwt dely Map Ta Phut 24/25 Sep trip via Indonesia redel SE Asia $15,000
‘Yasa Diamond’ 2021 84973 dwt dely retro Paradip 8 Sep trip via South Africa redel India $18,000 – WBC
‘Saphira’ 2021 82577 dwt dely Haldia 11 Sep trip via EC South America redel Singapore-Japan $18,000
‘RG Rhea’ 2020 81577 dwt dely Longkou 21 Sep trip via EC Australia redel S China $15,250 – JSSSC
‘CL Yangzhou’ 2019 81061 dwt dely aps EC.S.America 12/14 Oct trip redel Skaw-Gib $28,500 – Bunge
‘Magic Ariel’ 2020 81054 dwt dely aps Santos 1/10 Oct trip redel Spore-Jpn $18,500 + $850,000 bb – Bunge
‘CL Qingshui He’ 2020 80860 dwt dely aps EC.S.A.1 Oct trip redel Spore-Jpn $18,500 + $850,000 bb – Bunge
‘Afroessa’ 2014 78175 dwt dely Dongjiakou 21/23 Sep trip via NoPac redel Singapore-Japan $14,500
‘CSK Unity’ 2015 77105 dwt dely Taichung 19 Sep trip via EC Australia redel S China $15,500 – Richland
‘Nara I’ 2007 76499 dwt dely Visakhapatnam 25/30 Sep trip via EC India redel China $13,500
‘Spar Indus’ 2016 63302 dwt dely Koh Sichang prompt trip via Indonesia redel WC India $16,500 – Oldendorff
’30-Agustos-M’ 2005 52677 dwt del W.Africa 16/21 Sep trip via Kamsar redel Aughinsh with bauxite $18,750 – WBC
‘Amber Lagoon’ 2015 39202 dwt dely Walvis Bay spot trip via EC.S.Amer 55 days redel Durban $16,000 – Prudent Shipping
‘Merlin’ 2011 38468 dwt dely Santos prompt trip redel US Gulf intention grains $22,000
‘Nordic Merchants’ 2014 37205 dwt dely Salalah
Ppt trip redel Tunisia via COGH intention sulphur $12,000
‘Istanbul-M’ 2010 34426 dwt dely Jebel Ali prompt trip redel WC India intention bagged sugar $12,950 – Copa
‘Hydra Dawn’ 2013 34274 dwt dely ARAG prompt trip
via Baltic redel E Medit intention scrap $18,000 – Lauritzen
PERIOD
‘Sakizaya Miracle’ 2017 81668 dwt dely Koh Si Chang 8/20 Oct 2 years redel worldwide index linked at 112% BPI82 – Louis Dreyfus –
VOYAGES
ORE
‘Cape Pleasure’ 2024 170000/10 Pointe Noire/Oita 10/19 Oct $28.25 fio 60000shinc/550000shinc – NSC
‘TBN’ 170000/10 Dampier/Qingdao 3/5 Oct $10.80 fio 90000shinc/30000shinc – Rio Tinto
‘TBN’ 170000/10 Dampier/Qingdao 3/5 Oct $10.90 fio 90000shinc/30000shinc – Rio Tinto
‘TBN’ 160000/10 Port Hedland/Qingdao 4/6 Oct $10.80 fio 80000shinc/30000shinc – BHP
‘TBN’ 160000/10 Port Hedland/Qingdao 2/4 Oct $11.00 fio 80000shinc/30000shinc – FMG
COAL
‘Korea Line TBN’ 80000/10 Taboneo/Hadong 27 Sep/4 Oct $8.52 fio 15000shinc/21000shinc – Kepco tender
‘TBN’ 75000/10 HPCT/Visakhapatnam 15/24 Oct
$17.00 fio 45000shinc/20000sshex – Sail
‘Ardent TBN’ 75000/10 Nacala/Gangavaram 1/7 Oct
$13.15 fio 35000shinc/25000shinc – Jindal
Baltic Exchange Index – 18 SEPTEMBER 2025 Baltic Exchange Capesize 182 Index
Route Description Value Change
===== ========================================== ==
C8_182 182000mt Gib/Hamburg transatlantic RV 32,414 +871
C9_182 182000mt Cont-Med trip China-Japan 53,438 +594
C10_182 182000mt China-Japan transpacific RV 33,180 +1487
C14_182 182000mt China-Brazil round voyage 29,470 +920
C16_182 182000mt Backhaul 11,938 +244
======================================================
C5TC 182 Weighted Timecharter Average 32,015 + 986
Baltic Exchange Index – 18 September 2025
Baltic Exchange Capesize Index 3411 (+ 111)
Route Description Value($) Change
Route Description Value($) Change
====== =================================== =====
| C2 | 160000mt Tubarao to Rotterdam | 12.779 +0.143 |
| C3 | 160-170000mt Tubarao to Qingdao | 24.520 +0.490 |
| C5 | 160-170000mt W Australia to Qingdao | 10.955 +0.370 |
| C7 | 150-160000mt Bolivar to Rotterdam | 14.557 +0.236 |
| C8_14 180000mt Gibraltar-Hamburg T/A RV | 28,536 +786 | |
| C9_14 180000mt Conti/Med Trip China/Japan | 48,813 +563 | |
| C10_14 180000mt China/Japan T/P RV | 30,205 +1625 | |
| C14 180000mt China-Brazil RV | 25,780 +960 | |
| C16 180000mt N.China to Skaw-Passero | 8,450 +75 | |
| C17 170000mt Saldanha Bay to Qingdao | 18.644 +0.294 | |
5TC Weighted Timecharter Average 28,288 + 922
Baltic Exchange Panamax 82500mt Index 18 September 2025
Baltic Exchange Panamax Index 1,881 (-42)
Route Description Value ($) Change
====== ================================= ========
P1A_82 Skaw-Gib T/A RV 20,236 -1014
P2A_82 Skaw-Gib trip HK-SKorea incl Taiwan 27,054 -654
| P3A_82 HK-SKorea incl Taiwan, Pacific/RV | 14,490 | -77 |
| P4_82 HK-SKorea incl Taiwan to Skaw-Gib | 8,503 | -16 |
| P6_82 Dely Spore Atlantic RV | 15,635 | -136 |
P5TC Weighted Timecharter Average 16,928 -380
The following routes do not contribute to the BPI or Weighted TC Average.
Route Description Value ($) Change
====== ================================= =====
| P5_82 S. China Indo RV | 13,544 -50 |
| P7 66000mt Mississippi Rvr to Qingdao | 56.907 -0.379 |
| P8 66000mt Santos to Qingdao | 39.179 -0.235 |
Baltic Exchange Panamax 82 Asia Index – 19 September 2025
Route Description Size (MT) Value($) Change
===== ====================== ========
P5_82 S.China one Indo RV 13,600 + 56
Baltic Exchange Supramax Index – 18 September 2025
Baltic Exchange Supramax Index 1492 (+0)
Route Description Value ($) Change
Baltic Exchange Supramax Asia Index – 19 September 2025
| S1B_63 | Cnkle trip via Med or Blsea to China-S.Korea 20,625 +158 | |||
| S1C_63 | US Gulf trip to China-South Japan 31,357 -50 | |||
| BS2_63 | North China one Australian or Pacific RV 16,736 -128 | |||
| BS3_63 | North China trip to West Africa 16,780 +20 | |||
| S4A_63 | US Gulf trip to Skaw-Passero 32,836 +379 | |||
| S4B_63 | Skaw-Passero trip to US Gulf 14,557 +78 | |||
| BS5_63 | West Africa trip via ECSA to North China 21,950 +250 | |||
| BS8_63 | South China trip via Indo to EC.India 19,192 -183 | |||
| BS9_63 | W.Africa trip via ECSA to Skaw-Passero 17,986 +7 | |||
| S10_63 | S.China trip via Indonesia to South China 14,500 – 207 | |||
| S15_63 | Indian Ocean trip via S.Africa to Far East 15,008 + 8 | |||
| S11TC | Weighted Timecharter Average | 18,861 | 0 | |
| S10TC | Supramax(58) Timecharter Average | 16,827 | 0 | |
Route Description Value($) Change
===== =============================== =======
S2_63 N.China one Austr or Pac RV 16,593 -143
S8_63 S.China via Indonesia/Ec India 19,050 -142
S10_63 S.China via Indo/S.China 14,300 -200
====== =============================== =======
S3TC Weighted Time Charter Average 16,641 -159
Baltic Exchange Index – 18 September 2025
Baltic Exchange Handysize Index 809 (+4)
Route Description Value ($) Change
| HS1_38 | Skaw-Passero trip Recalada – Rio de Janeiro | 9,471 +92 | |
| HS2_38 | Skaw-Passero trip Boston – Galveston | 11,993 +147 | |
| HS3_38 | Rio de Janeiro-Recalada trip Skaw – Passero | 22,250 +389 | |
| HS4_38 | USGulf trip via USG or NCSA to Skaw-Pass | 20,114 +178 | |
| HS5_38 | SE Asia trip to Spore – Japan | 13,764 – 7 | |
| HS6_38 | N.China-S.Kor-Jpn trip to N.China-S.Kor-Jp | 12,844 | – 56 |
| HS7_38 | N.China-S.Kor-Jpn trip to SE Asia | 12,694 | – 62 |
7TC Weighted Timecharter Average 14,569 + 81
(c) Baltic Exchange Information Services Ltd., 2025
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