European Short Sea Index (EUSSIX) for Dry Bulk and Break Bulk
BMTI launched the publication of the first official European Short Sea Index in the BMTI Short Sea Report of August 21, 2017. To meet the need for a comprehensive indicator of Europe’s short sea market, BMTI developed the “European Short Sea Index” (or in abbreviated form, “EUSSIX”).
In the first two years, the EUSSIX was generated by weighted inputs from BMTI’s three main sub-regional indices: Northern Europe (1), tracking from the Baltic States (basis Klaipeda) to ARAG, Mediterranean Sea (2) southbound, tracking from North Black Sea to North Africa (basis Egypt) and Black Sea-Azov (3) transit. On September 12, 2019, some adjustments and additions were made to improve its market coverage. The Black Sea-Azov sub-index was split into the Sea of Azov (3) index, tracking from Azov (incl. Rostov & Yeisk) to Marmara and Black Sea (4) transit, tracking from North Black Sea (basis Odessa) to Marmara. The EUSSIX, a directional index published on a weekly basis, is the result of the aggregated freight rates for dry bulk cargoes transported in Europe and adjacent regions with vessels of tonnage 1,000-20,000 dwt.
In contrast to deep sea and intercontinental maritime transport, short sea shipping is restricted to relatively short distances along the coast and ships in the size range falling below the typical Handysize vessel description. As such, the world-recognized and referenced Baltic Dry Index cannot serve this sector of commercial shipping as a reliable economic indicator. The European short sea market has long needed such an index for its own vibrant and volatile market. BMTI—with years of experience intensively observing, analysing and collecting data from the sector—has decided to meet this demand with our new market index. In utilising its relationships with Europe’s short sea industry players, BMTI is in the process of further expanding its freight data input to strengthen the reach of the EUSSIX index. Any additional short sea market players who would like to participate in contributing to this new short sea index are invited to contact BMTI.
European Short Sea Index (EUSSIX)
This index is derived and calculated from current freight data in the dry bulk and break bulk sectors
