Platts launches two new Capesize freight assessments to China

S&P Global Platts has started publishing two new Capesize dry bulk freight assessments, reflecting the increasing liquidity of Australian thermal coal and Canadian iron ore movements into East China, from Nov. 2, 2020.

The PC23 Capesize assessment reflects the freight rate for 130,000 mt (plus/minus 10%) thermal coal cargoes from Newcastle, east coast Australia to Zhoushan, East China, loading 10-30 days forward from the date of publication.

The PC24 Capesize assessment reflects the freight rate for 170,000 mt (plus/minus 10%) iron ore cargoes from Seven Islands, east coast Canada to Qingdao, East China, loading 20-40 days forward from the date of publication.

Both assessments are published on a dollar per metric ton basis and follow the Singapore publishing schedule timestamp at the Asian market close at 5:30 pm Singapore time (0930 GMT).

The volume of thermal coal from Newcastle in Australia to China hauled on Capesize ships was at 21 million mt and 25.5 million mt in 2018 and 2019 respectively, according to Platts trade flow software cFlow. Zhoushan port was the destination for the majority of thermal coal cargoes.

Canada is the world's fourth largest seaborne iron ore exporter after Australia, Brazil and South Africa, following steady increases over the last few years. China's iron ore imports from Canada stood at 7.8 million mt and 11.3 million mt in 2018 and 2019 respectively, according to Chinese customs data. Over January-June 2020, China imported 5.5 million mt of Canadian iron ore.

These assessments appear in Platts Dry Freight Wire and on Shipping Alert pages SHP 610, SHP 635, SHP 628, SHP 629, SHP 364, SHP 611 and Platts Global Alert pages PGA 3930, PGA 3931, PGA 3911, PGA 3910,PGA 3918, PGA 3919, PGA 3910 under the following price database codes:

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