Platts proposes to launch three KMAX 9-derived Panamax dry bulk freight assessments

Platts, part of S&P Global Commodity Insights, proposes to launch three daily dry bulk Panamax freight assessments for 60,000 mt wheat shipments to Indonesia as implied rates derived from the Platts KMAX 9 index.

The KMAX 9 Index is a daily weighted average Kamsarmax time charter equivalent (TCE) index reflecting ton-mile demand on nine key TCE assessments. The KMAX 9 index assessment for the 81,000 dwt Kamsarmax class vessel is derived by applying an allocated weighting to the daily Panamax TCE assessments of six key voyages published at the Singapore close and three key voyages published at the London close.

The freight element of the calculation for the three proposed implied freight assessments would be based on the daily value of the KMAX 9 index, while costs and expenses specific to each route would reflect standard market practice.

Platts would include port charges, loading and discharge rates, vessel speed, fuel consumption and other relevant expenses specific to each route after a robust survey of market participants.

The three proposed routes would be based on the following time-charter trip assumptions:

The proposed assessments would be published in US dollars/mt and reflect a lay days-cancelling period of 15-30 days forward.

The assessments will follow the KMAX 9 publication schedule.

The KMAX 9 index assessment will not be published on days when either Singapore or London, or both locations are out on a public holiday.

Please send any feedback, comments, or questions by Nov. 3 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.