Platts reflects spot fixtures in Aframax carbon-accounted freight assessments from March 1

Platts has maintained its Aframax carbon-accounted freight assessments and has amended the methodology from a calculation to reflect spot values inclusive of EU Emission Trading System (EU ETS) costs, effective March 1.

The proposal subscriber note can be accessed with this LINK

Platts first launched the carbon-accounted freight assessments on four European Aframax routes Aug. 1, 2022 and on two Americas Aframax routes Nov. 1, 2022, which can be referenced in the subscriber methodology notes HERE and HERE, respectively.

In line with EU Directive 2023/959 of May 10, 2023, the carbon-accounted freight assessments fully reflect the cost to offset:

• 100% of carbon dioxide emissions for intra-EU voyages and time spent in European Economic Area (EEA) berths
• 50% of carbon dioxide emissions for all inbound and outbound voyages between EU and non-EU member states
• 0% of carbon dioxide emissions, while the ship is in non-member state ports

Effective March 1, 2024, Platts carbon-accounted freight assessments reflect spot fixtures, bids and offers inclusive of EU ETS costs according to the European Parliament's phased-in approach as follows:

• 40% of emissions reported in 2024 payable in 2025
• 70% of emissions reported in 2025 payable in 2026
• 100% of emissions reported in 2026 payable in 2027

The affected assessments are: