Platts proposes to launch Aframax carbon emission charges Sept. 1, 2023

Platts, part of S&P Global Commodity Insights, proposes to launch carbon emission charge assessments for its daily Aframax dirty tanker freight assessments on the UK Continent-UK Continent, Baltic-to-UKC, Ceyhan-Mediterranean, Black Sea-to-Med and US Gulf Coast-to-UKC/Med routes, effective Sept. 1, 2023 to complement the all-inclusive carbon-accounted freight assessments launched on the above stated six routes in 2022.

The carbon emission charge assessments will reflect the additional cost to offset 100% of the carbon dioxide emissions created on voyages involving European Union ports and European Economic Area berths taking into account recent guidance in the final compromise text on the European Union's Emission Trading System released by the European Parliament Environmental Committee on Feb 9 in the following DOCUMENT.

In line with the final EP compromise text the carbon emission charge assessments will reflect the cost to offset 100% of:

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

Platts publishes the values as defined in the relevant European legislation and will reflect any updates accordingly. The most recent methodology update is published HERE.

The proposed assessments will be published in Worldscale points and in US dollars/mt.

The subscriber launch note for the EMEA-loading and Americas-loading carbon-accounted freight assessments was published HERE on Nov. 1, 2022.

On June 1, the methodology underlying the carbon-accounted Aframax freight assessments has been amended to reflect the recent EP EC guidance referenced above.

The calculations use the daily EU Emission Allowance Nearest-December price (EADLP00) as published by Platts. The tank-to-wake carbon emissions based on the fuel consumption will be calculated using the carbon conversion factors published in Annex 1 of Regulation (EU) 2015/757 of the European Parliament and of the Council on the monitoring, reporting and verification of carbon dioxide emissions from maritime transport.

These carbon conversion factors, published by Platts since Aug. 1, 2022, are:

Please send any feedback, comments or questions by July 28 to shipping@spglobal.com and pricegroup@spglobal.com.

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