Baltic Freight Index

Baltic Freight Index

An index tracking futures contracts on goods being shipped internationally. It was used to settle contracts traded on the now defunct Baltic International Freight Futures Exchange.
References in periodicals archive ?
On 30th June the Baltic Freight index was at USD 45 pmt (per metric ton) and is now at USD 75 pmt, which would improve the contribution of the VLGC even further in the fourth quarter 2011.
The Baltic International Freight Futures Exchange (BIFFEX), a London-based exchange for trading ocean freight futures contracts with settlement based on the Baltic Freight Index (BFI), was the world's first freight futures market.
The underlying asset of BIFFEX contracts, the Baltic Freight Index (BFI), is a weighted average of the spot prices from eleven shipping routes.
The Baltic freight index has fallen by two-thirds from a peak in 2004.
In January 1985, the Baltic Exchange developed the then known Baltic Freight Index (BFI), which, in May 1985, would become the underlying asset of the Baltic International Freight Futures Exchange (BIFFEX) contract, a contract designed to hedge uncertainty associated with volatile freight rates.
The vessel named "Barbara" has a carrying capacity of 73,390 deadweight tons (dwt) and will be employed with Cargill under a one year time charter at Panamax Baltic Freight Index linked hire rate.
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