Platts amends carbon-accounted Aframax freight assessment methodology Nov. 1

Platts, part of S&P Global Commodity Insights, has amended the assessment methodology for its daily carbon-accounted Aframax dirty tanker freight assessment methodology on the 80kt UK Continent-to-UK Continent and 70kt US Gulf Coast-to-UKC routes effective Nov. 1.

The amendment comes after clarifying the provisions of Directive (EU) 2023/959 regarding "evasive port calls" in the final compromise text on the European Union's Emission Trading System, which the European Parliament Environmental and the Council in the Official Journal of the European Union released May 16. The most recent methodology update is published here.

Carbon-accounted assessments on the 80kt UKC-to-UKC route 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 70kt USGC-UKC run, zero carbon emissions are 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 costs of offsetting carbon emissions on the route reflect a two-route basket at 50% from Houston and Corpus Christi to Rotterdam.

Effective Nov. 1, the $/mt carbon emission charge assessment on the route also reflects 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.

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.