PRODUCERS of the Baltic Dry Index, that many take to be a barometric reading of global economic heath, will work closely with shipbrokers to create new freight rate benchmarks, says Baltic Exchange CEO Mark Jackson.
London's Baltic Exchange team plans devise freight rate, liquefied natural gas (LNG) and container indices, in the wake of its takeover by the Singapore Exchange (SGX) last November.
Expanding its offerings will allow the Baltic Exchange to "remain at the heart of the bulk shipping industry for the long term", Mr Jackson told Singapore's Straits Times.
"The next steps will be taken in close collaboration with our shipbroking panellists and end-users to identify the best reporting model, routes and vessel descriptions," he said.
"Singapore is at the heart of the rapidly developing LNG infrastructure in Asia, and we hope to add value to SGX's current offerings and play our role in developing Singapore as Asia's leading LNG trading hub," Mr Jackson said.
The Baltic Exchange has also established a Baltic Asia Advisory Committee, which will meet regularly to advise on maritime matters.