Platts proposes to launch 4 Americas dirty tanker demurrage assessments

Platts proposes to launch four Americas dirty tanker demurrage assessments for various dirty tanker classes loading in the US Gulf Coast and Brazil, effective May 3, 2021, to provide further transparency to costs associated with the regional tanker freight market.

Demurrage refers to costs incurred when the time taken to load/unload a cargo is in excess of the laytime stipulated in the charter party. This could be due to various reasons such capacity constraints or weather conditions.

The proposed new demurrage assessments are:

USGC-China VLCC Demurrage:

This assessment would reflect the daily lump-sum demurrage rate for standard voyages on VLCCs making STS USGC-China runs, typically loading 270,000 mt cargoes 15 to 45 days forward. This will act as a supplement to the existing 270,000 mt VLCC USGC-China benchmark spot freight assessment.

Brazil-China VLCC Demurrage:

This assessment would reflect the daily lump-sum demurrage rate for standard voyages on VLCCs making Brazil-China runs, typically loading 260,000 mt cargoes 15 to 45 days forward. This will act as a supplement to the existing 260,000 mt Brazil-China spot freight assessment.

USGC Suezmax Demurrage:

This assessment would reflect the daily lump-sum demurrage rate for standard voyages on Suezmaxes loading seven to 25 days forward on the USGC, typically transporting 130,000-150,000 mt cargoes. This assessment will reflect demurrage costs for ships unloading at various typical disports.

USGC Aframax Demurrage:

This assessment would reflect the daily lump-sum demurrage rate for standard voyages on Aframaxes loading five to 20 days forward on the USGC, typically transporting 70,000 mt cargoes. This assessment will reflect demurrage costs for ships unloading at various typical disports.

All assessments will be published in US dollars/day.

Please send all feedback, comments or questions by March 26, 2021 to shipping@spglobal.com and pricegroup@spglobal.com.

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