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EU authorised benchmark administrator the Baltic Exchange has partnered with air cargo pricing publisher TAC Index Company of Hong Kong. The Baltic Exchange and TAC will provide new regional general air cargo rate assessments. TAC’s Regional General Air Cargo Indices will be rebranded as the Baltic Air Freight Index (BAF Index) powered by TAC Index and come under the governance of Baltic Exchange Information Services Limited (BEISL). TAC Index will act as the Calculating Agent.

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During these unprecedented times, the International Transport Intermediaries Club (ITIC) recommends that brokers should consider stressing the current unusual market conditions in their ship valuation certificates.

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As the world continues to face lockdowns due to the Coronavirus outbreak the International Transport Intermediaries Club (ITIC) has issued advice that warns port agents of issues with receiving original bills of lading.

During this unprecedented period, port agents may be asked by consignees to deliver goods to them without providing a bill of lading in return. The consignee may claim that they have not received the bill of lading from the shipper or cannot present it to the port agent because of lockdown.

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The Republic of the Marshall Islands (RMI) has been recognized on the United States Coast Guard’s (USCG’s) QUALSHIP 21 roster for the period 1 July 2020-30 June 2021, as reported in the recently published USCG 2019 Annual Report. Approximately one third of the QUALSHIP 21 certified vessels are flying the RMI flag which exemplifies the quality of the owners and operators in the fleet.

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