Platts to amend Capesize Australia to China TCE calculations Nov 2

S&P Global Platts will amend the calculation of its time charter equivalent (TCE) assessments on the Capesize Port Hedland to Qingdao route on Nov. 2, 2020, to take into account the additional days required to meet Australia's current quarantine regulations.

The TCE calculation will allow 14 days from the ballast port, Qingdao in north China, to expire before the vessel is allowed to berth in Port Hedland, Western Australia.

Platts will continue to monitor and review Australia's quarantine restrictions and will adjust the calculation basis back to the typical standard once these additional restrictions are lifted.

Since June 16, Western Australia's Port of Port Hedland will generally consider vessels to berth only after they have completed a 14-day quarantine period from when they departed from the last international port. The transit time between the last international port and the iron ore export port in Western Australia is considered part of the 14-day quarantine period in Australia's effort to control the spread of COVID-19.

Based on feedback from market participants, Platts understands that Capesize ships are complying with this restriction by either slowing their ballast speed, or waiting outside the Western Australian port limits until they complete the 14-day quarantine period.

The TCE routes affected by the change in calculations and their corresponding price database codes are:

These assessments appear in Dry Freight Wire, Platts Shipping Alert pages 612, 613, 614 and 615, as well as Platts Tanker Alert pages 3970, 3971, 3972 and 3973.

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