Baltic Index For Handy-Size Soon

Trials will begin on September 3. The index would be based on reports from eight international shipbrokers and issued at 1400 GMT on Tuesdays and Fridays.

Basil Mavroleon, chairman of the Baltic Freight Index Committee, said the shipping market had for some time been seeking a reliable and independent index to reflect Handy-size rates. The panel of brokers will be J E Hyde, Howe Robinson, Clarkson, John F Dillon of the United States, Norway's Fearnleys, Yamamizu Shipping Co Ltd of Japan, Galbraith's and Simpson, Spence & Young.