SUBSCRIBER NOTE: Platts changes Australia-Korea Capesize dry bulk cargo size

Following a period of industry consultation and feedback, S&P Global Platts has changed the cargo size assessed for Capesize dry freight rates on the Newcastle, Southeast Australia to Pohang, South Korea route from 150,000 mt to 130,000 mt (Platts code: CINAK00, Page Number: MH3918, EP3918, GC0952) on October 3, 2016. This change in cargo size was first proposed by Platts in a subscriber note published on July 20, 2016.

The change is a result of industry feedback and in response to market changes. Platts understands that charterers typically move cargoes loaded out of Newcastle basis 130,000 mt (plus/minus 10%) due to the supplied stem size and the maximum draft available of 15.2 meters. Platts will normalize any other cargo size on these routes to 130,000 mt basis.

Please send any further feedback or questions to shipping@spglobal.com and pricegroup@spglobal.com.