SUBSCRIBER NOTE: Platts proposes to amend EC Canada-USAC clean MR tanker freight basis

S&P Global Platts proposes to change the load port basis for its East Coast Canada-US Atlantic Coast 38,000 mt Medium Range clean tanker assessment from Saint John to Come by Chance, with effect from October 1, to reflect changing spot market trade flows.

Platts understands that a substantial part of spot fixtures on this route now involve Come by Chance as the origination point. Market data observed by Platts showed that more than three-quarters of spot fixtures on the East Coast Canada-USAC Medium Range clean tanker route were basis Come by Chance in January-August. Platts understands that most of the vessels originating at Saint John are fixed on a time-charter basis.

Spot market freight for voyages that begin at Come by Chance typically hold a substantial premium to those that originate at Saint John.

Under the proposed change, Platts would continue to reflect all spot market data on the East Coast Canada-USAC Medium Range clean tanker route, but fixtures for other ports would be normalized to a Come by Chance load port basis.

The affected assessments are: Assessment name Code Clean East Coast Canada-USAC 38kt MR Lumpsum TCAYX00 Clean East Coast Canada-USAC 38kt MR $/mt TCAYW00

These assessments appear on Platts Global Alert page 1912, in the Clean Tankerwire and in the Platts price database.

Please send any comments or questions by September 14 to shipping@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.