Our last 2 shipments were on below red points of the index.
The "Formula" used in the contract is probably using the basis of BMI 1,000 = US$ 0.50/dmtu
Hence, July shipment was probably US$ 0.50/dmtu x 3.4 = ~US$ 1.70/dmtu and Sept shipment was probably US$ 0.50/dmtu x 4.0 = ~US$ 2.00/dmtu
No wonder October shipment was stopped...
Now, Handysize (38,000tn) , Supramax (58,000tn) and Panamax (82,000tn) has similar daily rates. Hence by using Supramax vessel price per tonne should be half of what has been paid before.
With index back to July level, I would think cost should be half of that (OMH to pay) due to economy of scale, question is the matrix in the agreement had provision for Supramax shipments (original plan was 30,000tn/month). Hopefully there is or added recently, may be price is then half of July, US$0.85/dmtu.
E25 Price at posting:
$1.53 Sentiment: Buy Disclosure: Held
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