Platts to increase LNG ship and cargo sizes from August 1

Effective August 1, 2012, and following market feedback, Platts will increase the standard ship and cargo size of 125,000-155,000 cubic meters to 135,000-175,000 cu m in its global LNG assessments.

The larger cargo sizes will be reflected in Platts daily spot price assessments of the Japan/Korea Marker, Southwest Europe, Northwest Europe, DES West India, FOB Middle East and netback FOB Australia.

The larger ship sizes will be reflected in the Asia Pacific and Atlantic day rate assessments and global freight costs. Platts will normalize to reflect cargo sizes of 145,000 cu m.

The methodology change is in response to an increase in modern LNG vessel sizes globally and discounted rates for smaller, less efficient vessels.

Platts monitors changes in shipping practices to ensure its assessments are in line with shipping logistics.

Please direct any comments or questions to lng@platts.com with a cc to pricegroup@platts.com.