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Tankers and Gas Strait of Hormuz crisis Finance

Baltic Exchange considers suspending 10 Middle East Gulf tanker indexes

  • Suspension or definition changes possible for TD2 and TD3C (VLCCs), TD23 (suezmaxes), TD8 (aframaxes), TC1 and TC20 (LR2s), TC5 and TC8 (LR1s), TC17 (MRs), BLPG1 (VLGCs)
  • Baltic Exchange is considering changing MEG index definition ‘to include a load port or area outside the MEG with an option to load at the original defined port inside the MEG’
  • Definition change could lower value of contracts based on MEG indexes; one source says this would spur legal challenges

  • Analysis

It appears increasingly possible that disruptions to Middle East Gulf tanker routes could be very extended. If so, there would be increasing pressure to suspend Baltic Exchange assessments of MEG routes

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