Platts to amend carbon-accounted Aframax freight assessment methodology Nov. 1

Platts, part of S&P Global Commodity Insights, will amend the assessment methodology for its daily carbon-accounted Aframax dirty tanker freight assessment methodology on the 80,000 mt UK Continent-to-UK Continent and 70,000 mt US Gulf Coast-to-UKC routes effective Nov. 1, after clarifying the provisions of Directive (EU) 2023/959 regarding evasive port calls in the final compromise text on the EU's Emission Trading System released by the European Parliament Environmental and the Council in the Official Journal of the EU on May 16, 2023, in the following document.

The most recent methodology update is published here.

Carbon-accounted assessments on the 80,000 mt UKC-to-UKC route will reflect the costs of offsetting 50% of the carbon dioxide emissions on the Sullom Voe, Flotta-to-Rotterdam port-to-port combinations included in the annual flat rate basket, and 100% of the emissions from Mongstad to Le Havre.

On the 70,000 mt USGC-UKC run, zero carbon emissions will be considered to be offset for the Nederland-to-Fawley leg of the three port-to-port annual flat rate basket underlying the assessment, as the UK port of Fawley is outside of EU/EEA ports of call for tankers. Hence, the costs of offsetting carbon emissions on the route will be reflected for a two-route basket at 50% from Houston and Corpus Christi to Rotterdam.

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

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