Platts to launch paraxylene demurrage assessment for 20,000 dwt vessel

S&P Global Platts has decided to launch a daily paraxylene demurrage assessment for 20,000 dwt vessels, following market feedback on requirements for a demurrage reference associated with the commensurate vessel size used to deliver cargoes of paraxylene up to 20,000 dwt, effective March 6, 2020.

The paraxylene demurrage assessment for 20,000 dwt vessel would be published in $/day.

The daily paraxylene demurrage assessment takes into consideration the latest information sourced from the market up to the close of the assessment window at 4:30pm Singapore time (0830 GMT).

Platts amended the guidelines for its CFR Taiwan/China PX assessments for laytime and demurrage on open and Asian origin deliveries on January 6, 2020 as per the link below:

http://plts.co/STiU30qiz1a

BACKGROUND: The subscriber note published on January 6, 2020 states that buyers who receive 5,000 mt cargoes of paraxylene through the Platts Market on Close assessment process on a non-commensurate vessel should not be exposed to demurrage charges beyond the rate associated with the commensurate vessel size used to deliver PX cargoes, which from an extensive study of the shipping market and from market feedback, Platts has found to be up to 20,000 dwt.

The new daily paraxylene demurrage assessment for 20,000 dwt vessel (CODE: PXDMR00) will be published on page PC0214, in the Asian Petrochemical Scan and Platts Market Center.

Please direct any questions or comments to petchems@spglobal.com, with a copy to pricemethodology@spglobal.com.

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