Platts proposes to launch Aframax 80,000 mt Vancouver-US West Coast assessment Oct. 1

Platts, part of S&P Global Commodity Insights, proposes to launch a daily freight assessment for the Aframax 80,000 mt Vancouver-US West Coast route effective Oct. 1, 2024.

Platts recognizes the need for greater transparency into the cost of freight for waterborne crude exports out of Westridge terminal in Vancouver to the USWC following the 590,000 b/d expansion of Canada's Trans Mountain Pipeline.

Spot freight market activity has ramped up significantly since the expansion began commercial operations May 1, 2024. According to S&P Global Commodities at Sea data, just over 92% of all Aframaxes loading Trans Mountain Pipeline barrels at Westridge terminal since the startup either discharged onshore USWC or offshore at the Pacific Area Lightering terminal.

The assessment would reflect the cost of voyages on Aframaxes delivering barrels directly to USWC refineries unloading at Long Beach, as well as for Aframaxes shuttling crude to PAL, where VLCCs undergo ship-to-ship-transfer operations for final delivery into Asia.

The basket would include the following routes:

The assessment will reflect freight for ships loading five to 20 days from the day of fixing, in line with existing Platts specifications for Aframaxes loading in the Americas.

The assessment will follow the 1330 Houston timestamp and the Houston publishing schedule. The assessments would be published in the Platts Dirty Tankerwire, Platts Dirty Tankerwire Monthly, and on Platts Shipping Alert and Platts Tanker Alert pages SHP2430, SHP2431, PGT1962, and PGT1963.

Please send all comments or questions by Aug. 20 to tankers@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.