Mysteel has decided to extend the consultation period of the proposed new PORTDEX lump premium for another six weeks to February 19 to allow more time for market liquidity tracking in order to better reflect the real market movement.
Mysteel announced on December 10, 2020 that it proposed to launch new PORTDEX lump premium with a month-long open market consultation starting from December 11, 2020.
The proposal is made in response to the increasingly growing liquidity exhibited in the portside market.
Given that the market liquidity typically gradually slows ahead of the Chinese New Year holiday break over February 11-17, the publication of the index after the week-long holiday break could better capture market liquidity and therefore be more reflective of the real market movement, according to market feedback.
The open market consultation will continue until Friday February 19, 2021, when the consultation period will close and the first publication of the lump premium, subject to further market feedback, will be on Monday February 22, 2021. All feedback received will be considered and will be made available upon request, unless explicitly marked as confidential.
If you have any questions or inquiries, please feel free to contact the index team by email MIODEX@mysteel.com.