Platts proposes USGC Aframax overtime lightering assessment

S&P Global Platts proposes to launch a new US Gulf Coast Aframax overtime lightering assessment basis 500,000 barrels effective June 1, 2020.

The new assessment would reflect overtime charges for reverse lightering activity onto larger-than-Aframax size vessels taking in excess of the standard three days included in a full-service lump-sum lightering contract, due to capacity constraints and weather restrictions.

The overtime assessment would be published on a lump-sum US dollar per day basis for reverse lightering activity offshore US Gulf Coast ports, including Corpus Christi, Houston and Texas City, for loading seven to 10 days forward. In the absence of spot market information, Platts would assess the rate based on related factors such as time charter earnings on intra-regional freight rates, in-chartering values and bunker costs.

Please send all comments or questions by April 30, 2020 to shipping@spglobal.com and pricegroup@spglobal.com

For written comments, please provide a clear indication if comments 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.