Traders can price capesize iron ore voyages between Western and China with much greater visibility following the launch of an automated pricing module.
The Baltic Exchange’s C5 route, for iron ore voyages from Western Australia to China, is priced per tonne on a cost and freight basis, which includes fuel costs.
Fuel oil derivatives for shipping exist, but are still voice-brokered by only a handful of shops and are not available electronically, which can make price visibility tricky.
