Platts launches four Americas dirty tanker demurrage assessments

Platts has launched 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 as capacity constraints or weather conditions.

Platts first proposed these new assessments in a subscriber note published March 12: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/031221-platts-proposes-to-launch-4-americas-dirty-tanker-demurrage-assessments

The new demurrage assessments are:

USGC-China VLCC Demurrage: This assessment reflects 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 acts as a supplement to the existing 270,000 mt VLCC USGC-China benchmark spot freight assessment.

Brazil-China VLCC Demurrage: This assessment reflects 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 acts as a supplement to the existing 260,000 mt Brazil-China spot freight assessment.

USGC Suezmax Demurrage: This assessment reflects 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 reflects demurrage costs for ships unloading at various typical disports.

USGC Aframax Demurrage: This assessment reflects 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 reflects demurrage costs for ships unloading at various typical disports.

The assessments, and associated monthly averages, are published in dollars/day.

Assessment name Code

Brazil-China VLCC Demurrage ADERB00

Brazil-China VLCC Demurrage MAvg ADERB03

USGC Aframax Demurrage ADERD00

USGC Aframax Demurrage MAvg ADERD03

USGC Suezmax Demurrage ADERC00

USGC Suezmax Demurrage MAvg ADERC03

USGC-China VLCC Demurrage ADERA00

USGC-China VLCC Demurrage MAvg ADERA03

The daily assessments appear on Platts Global Alert pages 1972 and 1962, on Platts Shipping Alert pages 2440 and 2430, and in the Platts Dirty Tankerwire. The monthly averages will be published on Platts Global Alert pages 1973 and 1963, on Platts Shipping Alert 2441 and 2431, and in the Platts Dirty Tankerwire Monthly. All prices are also published in the Platts price database under the codes above.

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