Baltic Exchange has launched a new series of chemical and agricultural oil assessments to meet the evolving needs of the maritime freight market
Posted on: 5 February 2025
Baltic Exchange has launched a new series of chemical and agricultural oil assessments in order to meet the evolving needs of the maritime freight market and bring its renowned expertise and benchmarking data to the chemical and agri-oil shipping sectors.
The Baltic Chemical and Agricultural Oil Assessments (BCAA) will be produced on a weekly basis as of February 2025. The assessments are designed to serve a segment of the freight market – across owners, charterers, brokers and trading companies – that is increasingly demanding key freight data and sector benchmarks on a more regular basis to make more informed financial decisions.
Renowned for its expertise in dry bulk, tanker, and gas freight sectors, alongside providing container and air freight data, Baltic Exchange is now set to engage with a broader spectrum of stakeholders, including shipowners, charterers, and industrial producers across the whole chemical, vegetable/agri-oil, and biofuel supply chains. These industries provide vital products and uses to everyday life, from cleaning/hygiene products to food and cooking, construction materials, transportation, agriculture, clothing, and electronics.
Filling a gap in existing freight assessments, the BCAA will offer insights into a series of trade routes covering “easy-chemicals” like benzene, biofuels, and caustic soda, as well as vegetable oils. The indices, priced in USD per metric ton and basis 5,000 mt or 10,000 mt shipments (and 40,000 mt for vegetable oils), reflect the unique nature of chemical tankers, which carry multiple cargo types and require specialised handling beyond a traditional oil products carrier.
The trade routes covered by BCAA include:
EC11: Northwest Europe to US Gulf
EC22: Middle East Gulf to West Coast India
EC23: Middle East Gulf to China
EC34: US Gulf to Far East
EC35: US Gulf to Northwest Europe
EC36: US Gulf to Brazil
EC43: Singapore to China
EC52: Korea to West Coast India
EC57: Korea to Singapore
PO45: Singapore Straits to Northwest Europe
VG62: EC South America to West Coast India
“Unlike traditional freight indices, chemical tanker operations are highly complex, involving multiple unrelated cargoes with very specific but diverse stowage and handling requirements. However, the chartering market has now become sufficiently mature for us to develop a reference price for these key trade lanes,” said Mark Jackson, CEO of Baltic Exchange.
“The launch of the BCAA underscores our commitment to broadening our services and providing critical transparency in underrepresented markets. By expanding into the chemical and agri-oil sectors, we are offering the freight market much-needed benchmarks for these specialised industries. This latest set of benchmarks reflects our dedication to supporting the diverse needs of the global shipping community, and we look forward to continuing to innovate and collaborate with stakeholders across shipping’s most important sectors.”
The BCAA is the latest in a series of new products from Baltic Exchange as it looks to offer an expanded portfolio of services to the global shipping industry. Recent launches include the Baltic Know-Your-Customer (KYC) Platform, which leverages trusted databases to enhance due diligence and compliance procedures, and its FuelEU Maritime Calculator, which helps shipowners estimate the commercial costs of the new environmental regulation. These tools, alongside the BCAA, reflect the Baltic Exchange’s continued commitment to delivering practical solutions that support transparency, risk management, and sustainability in global maritime operations.
