SUBSCRIBER NOTE: Platts launches Panamax North Pacific dry bulk TCE assessment

Following a period of industry consultation and feedback, S&P Global Platts has launched a daily Time Charter Equivalent, or TCE, assessment for Panamax dry bulk vessels for North Pacific voyages, reflecting the market's growing interest in these prices, effective August 1, 2018.

The TCE assessments reflect the $/day pricing derived from the respective voyage rates published on a $/mt basis in Dry Freight Wire.

S&P Global Platts had proposed to launch the TCE assessment effective August 1, 2018 in a subscriber note published on June 25, 2018 (https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/062518-p latts-proposespanamax-north-pacific-dry-bulk-tce-assessment).

The TCE is calculated using bunker prices published by Platts.

The port charges, vessel speed and consumption used in the TCE calculations are arrived at by extensive market survey and reflect market practice.

The assessment is basis loading and discharge on Sundays and holidays included per weather working day at both ends; sea margin of 7% and total commission at 5%.

The TCE assessment, including vessel description and route, is the following:

Panamax 81,000 dwt

Terms based on: Route Load/Discharge Turn-time Vessel Bunkering rates at Load/Discharge Delivery Port PPTCE44 scale/15,000 12/24 North South China Korea

Please send all comments or questions to shipping@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make those not marked as confidential available to the public upon request.