Platts proposes to launch Yearly, Dynamic LNG Carbon Accounted Base Rates and EUA charges for assessed routes from May 19

Platts, part of S&P Global Commodity Insights, proposes to launch yearly and dynamic LNG carbon-accounted Base Rates for 823 assessed routes involving EU ports, effective May 19, 2025.

The rates would be assessed in $/mt and would expand the current suite of Platts Base Rates for LNG fuel, which were launched on Oct. 16, 2023. Details can be referenced in the subscriber methodology notes here.(opens in a new tab)

The new LNG carbon-accounted Base Rates would reflect all the costs of a round trip for a tanker, considering one or more loading and discharge ports.

These rates would include fuel expenses, port costs, agency fees, other well-known miscellaneous costs and EU Allowance charges.

In line with EU Directive 2023/959 dated May 10, 2023, the LNG carbon-accounted Base Rates would fully reflect the costs to offset:

• 100% of carbon dioxide emissions for intra-EU voyages and time spent in European Economic Area 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-EU member state ports.

The yearly LNG carbon-accounted Base Rates would include an average of spot values of EUAs, from Oct. 1 of the previous year (2023) to Sept. 30 of the current year (2024) (symbol code ABQVQ00).

The dynamic LNG carbon-accounted Base Rates would include the spot value of EUA for the corresponding date (symbol code EADLP00).

Additionally, yearly and dynamic EUA charges basis LNG would be published as standalone values to represent the estimated cost of LNG carbon emissions of each assessed route.

The methodology adheres to the phased-in approach outlined by the European Parliament regarding the reporting and payment of emissions, as indicated below:

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

Please send all comments or questions by Apr. 17, 2025, to tankers@spglobal.com and pricegroup@spglobal.com.

For written comments, please indicate clearly if they are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.