Platts to amend Capesize Australia to China TCE calculations June 1

Platts, part of S&P Global Commodity Insights, will amend the calculation of its time charter equivalent (TCE) assessments on the Capesize Port Hedland to Qingdao route on June 1, 2022, to remove the additional waiting days that were needed to meet Australia's COVID-19 quarantine regulations.

This follows a circular from Pilbara Ports Authority on March 22, 2022, allowing for vessels to berth earlier than 14 days at Port Hedland, subject to certain COVID-19 testing protocols being met. In addition, market feedback since then has been that most Capesize shipowners and ship-operators have now adjusted their operations back to the typical standards which were in place prior to the onset of the COVID-19 pandemic.

The TCE calculations were amended on Nov. 2, 2020 to allow for the completion of 14 days from the ballast port, Qingdao, north China before the vessel was allowed to berth in Port Hedland, Western Australia. That subscriber note can be viewed here.

The affected assessments are:

These assessments appear in Dry Freight Wire, Platts Shipping Alert pages 612, 613, 614 and 615, as well as Platts Tanker Alert pages 3970, 3971, 3972 and 3973 and in the Platts price database under the codes above.

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