SUBSCRIBER NOTE: Platts changes USGC-Japan/S Korea LR1 cargo size Feb 1

SUBSCRIBER NOTE: Platts changes USGC-Japan/South Korea LR1 cargo size Feb 1 S&P Global Platts has changed the cargo size reflected in its Long Range 1 US Gulf Coast-Japan/South Korea assessment from 55,000 mt to 60,000 mt effective February 1, 2018, to reflect a change in trade flows through the Panama Canal.

The change was first proposed in a subscriber note published November 28, 2017 (https://platts.com/subscribernotesdetails/10063377).

Following the opening of the Neopanamax locks at the Panama Canal on June 26, 2016, spot fixtures for Long Range 1 tankers on the USGC-Japan/South Korea route have started to reflect cargo sizes of 60,000 mt.

Prior to the Panama Canal expansion, LR1 tankers traversing the canal were limited to 55,000 mt cargoes due to draft restrictions.

The change affects the following symbols: Clean Freight USGC-Japan/S Korea LR1 Lump sum: TCLNA00 Clean Freight USGC-Japan/S Korea LR1 Lump sum MAVG: TCLNB03 Clean Freight USGC-Japan/S Korea LR1 Lump sum cargo size: TCLNASZ Clean Freight USGC-Japan/S Korea LR1 $/mt: TCLNB00 Clean Freight USGC-Japan/S Korea LR1 $/mt MAVG: TCLNB03

These assessments appear on Platts Global Alert page 1924 (daily assessments) and on page 1925 (monthly averages), in Clean Tankerwire and in the Platts price database.

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