Baltic Exchange Information Services Ltd.

03/03/2021 | Press release | Distributed by Public on 03/03/2021 05:29

Denis Petropoulos: Why Baltic Exchange membership matters for Tankers

While many sectors of the dry cargo markets are having a bull run, the tanker markets remain subdued.

But virtually a year ago when tanker rates were soaring owners had been left wondering if dry was the market to reinvest in.

Predictions and reasoning have been the challenge for all of us in shipping. But with an array of tools at our disposal, managing volatility has become the new challenge.

I attended the Baltic Exchange Tanker webinar last month to hear some fascinating analysis on the market drivers in oil markets and shipping prospects.

Many seasoned owners and operators understand the risks and are happy to enjoy the spikes and manage the troughs without the use of hedging.

Nevertheless, the 90-minute session gave us an insight in the short term and demonstrated how using Baltic Exchange indices can hedge the volatility if that's the preference.

I am pleased to say that with more international and national oil companies joining the Baltic Exchange there is now an increased focus of the number of tanker pools and independent tanker owners from Europe, Asia and the Americas coming into Baltic membership.

But importantly, The Baltic Exchange brings far more to the tanker market more than just raw data.

It also provides a seat at the table and the chance to get involved with the development of new routes and services.

* You can apply to be a member of the Baltic Exchange here.