Platts launches new Australia-Vietnam Supramax voyage, TCE assessments

S&P Global Platts has started publishing three new dry bulk freight assessments for Supramax class ships reflecting the increasing liquidity on thermal coal shipped from east coast of Australia to Vietnam, from Feb. 1, 2021. The new assessments are called PS33, PSTCE33L and PSTCE33.

The new PS33 Supramax assessment reflects the freight rate on a dollar/mt basis for the Newcastle, east coast of Australia, to Campha, Vietnam, route basis 55,000 mt (plus/minus 10%) cargo size, loading 10-25 days forward from the date of publication.

The new PSTCE33L basis bunker fuel 0.5%S and PSTCE33 basis scrubber-fitted time charter equivalent assessments reflect the $/day pricing derived from the respective voyage rate. The assessments reflect ships chartered for loading 10-25 days forward from the date of publication.

The assessments follow the Singapore publishing schedule time stamp at the Asian market close at 5:30 pm Singapore time (0930 GMT).

Platts first proposed launching the new dry bulk freight assessments in a subscriber note published Dec. 10, 2020: http://plts.co/cGAJ30rnUpC.

The PSTCE33L time charter equivalent assessment is calculated using the daily Shanghai Marine Fuel 0.5%S delivered bunker assessment, and the PSTCE33 TCE assessment is calculated basis the daily Shanghai IFO 380 CST bunker fuel assessment published by Platts. The ship speed and consumption used in the TCE calculations are derived by extensive market survey and reflect market practice for ships using low sulfur and high sulfur bunker fuel.

Vietnam, one of the fastest growing economies in the Asia-Pacific region, is expected to see its coal imports balloon to 55 million mt in 2020, up 22% from 45 million mt in 2019, according to S&P Global Platts Analytics. Imports could increase further to 55.2 million mt in 2021, Platts Analytics added.

Vietnam's coal imports are expected to further rise to an estimated 80 million mt by 2025, according to Vietnamese energy company An Viet Phat Energy.

These assessments appear in Platts Dry Freight Wire and Shipping Alert pages SHP 612, SHP 613, SHP 614, SHP 615, SHP 628, SHP 629 and Platts Global Alert pages PGA 3970, PGA 3971, PGA 3972, PGA 3973, PGA 3918, PGA 3919 under the following price database codes:

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