Subscriber note: Platts to publish freight rates to quarter points

Further to its proposal note published on November 14, 2012, Platts confirms that it will publish its Worldscale basis oil tanker rate assessments to quarter points with effect from January 2, 2013. Platts' assessments in dollars per tonne will continue to be published to two decimal places, as they have been previously. Previously, Platts' Worldscale basis assessments were published in whole points only. For example, Platts' Cross-Mediterranean clean assessment for December 31, 2012 was published as 185 basis points. Under new approach, Platts would publish 185.00 points, and could potentially have published an assessment of 185.25, 185.50, or 185.75. This change reflects a growing trend towards smaller trading increments in the shipping markets. By publishing its basis assessments to quarter points, Platts will be better able to reflect specific market values on a daily basis. Please send comments and questions, to tankers@platts.com and pricegroup@platts.com.