S&P Global Platts has announced the launch of APSI 5, a new dry bulk weighted average index for Supramax class bulkers. According to the press release:
APSI 5 is the dry bulk freight market’s first regional weighted average index capturing the Asia Pacific trade on Supramax bulkers, reflecting an important segment of the global dry bulk market that is otherwise not reflected in existing price benchmarks. The new index enhances Platts’ dry bulk freight market offering and complements the earlier launches of the Platts Capesize weighted average TCE Index (Cape T4) and Platts Kamsarmax weighted average TCE Index (KMAX 9). It offers participants the basis of an option to trade either a basket of routes via the Index, or the individual time charter equivalents (TCEs) as well as voyage charter rates…The new Platts APSI 5 Index is designed to better reflect the supply and demand dynamics of the dry bulk shipping market, aided by observed trade flow data from Platts cFlow.