信德海事网-专业海事信息咨询服务平台 登录 | 注册 [ 设为首页 ] [ 加入收藏 ] 中文版 ENGLISH WeChat Mobile --> --> ENGLISH   >   MARKET --> Baltic Exchange congratulates SGX and EEX on a successful transfer of Panamax FFAs 2026-01-29 11:10 By： xinde marine news 分享： --> --> --> 评论 --> --> Baltic Exchange congratulates SGX and EEX on a successful transfer of Panamax FFAs   SGX and EEX successfully completed the transfer of all open interest in the Baltic Panamax 4TC (P4TC) index to the Panamax 5TC (P5TC) index on 16 January 2026, with the migration executed smoothly and without market disruption. This milestone concludes the transition from the long-established 74,000 dwt Panamax vessel specification to the updated 82,500 dwt standard.   Throughout 2025, Baltic Exchange worked closely with the Clearing Houses (CCPs) to prepare the industry for this change. This included market forums, direct stakeholder engagement, and the publication of official circulars outlining the transition process and timeline.   Following the successful migration of open interest to the P5TC, the Baltic will cease publishing the P4TC index, with 30 January 2026 set as the final publication day. For many years, the P4TC has been derived from the P5TC through a fixed differential ($1,336), and although it will no longer be published, the Baltic will continue to provide a calculated P4TC value under licence upon application.   The P5TC superseded the P4TC after the Baltic completed its Panamax vessel‑review process, raising the standard vessel from 74,000 dwt to 82,500 dwt, following consultation with the market and in accordance with the criteria set out in the Guide to Market Benchmarks. As an FCA-regulated benchmark administrator, Baltic Exchange follows defined regulatory protocols in transitioning from one index to another to ensure transparency, governance, and market continuity.   “This transition brings the derivatives market fully in line with the physical benchmark that has