Platts proposes to amend Capesize PC5 assessment name Oct 1

Platts, part of S&P Global Commodity Insights, proposes to amend the assessment name for its Capesize PC5 assessment, Port Hedland, Northwest Australia to Qingdao, China (IOFAC00) to better reflect the wider liquidity and volume of iron ore shipments from the Western Australia region, effective Oct. 1.

As per current practice, fixtures and indications for both Port Hedland and Dampier ports in Western Australia are considered to arrive at the PC5 assessment. Platts, based on feedback and prevailing market practice, understands that the majority of participants involved in the shipping of iron ore refer to the description Western Australia for shipments originating from this region. Hence, Platts proposes to amend the description from Port Hedland, Northwest Australia-Qingdao, China to Western Australia-Qingdao, China.

The assessment follows a 5:30 pm Singapore timestamp and appears in Platts Dry Freight Wire, Dry Freight Wire Monthly, SBB Steel Markets Daily and Steel Raw Materials Monthly.

Please submit any further feedback, comments or questions to PL_Global_Shipping_Editors@spglobal.com and pricegroup@spglobal.com by Aug. 30, 2024.

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 upon request.