Subscriber note: Platts to assess Worldscale rates to quarter points

Platts proposes to publish its Worldscale basis oil tanker rate assessments to quarter points with effect from January 2, 2013. This change reflects a growing trend towards smaller trading increments in the shipping markets. By publishing its basis assessments to quarter points, Platts will be better able to reflect specific market values on a daily basis. Currently, Platts' Worldscale basis assessments are published in whole points. For example, Platts' Cross-Mediterranean clean assessment for November 12, 2012 was published as 160 basis points. Under the proposed change, Platts would publish 160.00 points, and could potentially have published an assessment of 160.25, 160.50, or 160.75. Platts' assessments in dollars per tonne would continue to be published to two decimal places, as they are currently. Please send comments and questions by December 21, 2012, to tankers@platts.com and pricegroup@platts.com.