Platts clarifies port basis, costs for USGC Aframax Lightering assessment

Platts, part of S&P Global Commodity Insights, would like to clarify that its US Gulf Coast Aframax Lumpsum Lightering assessment reflects full-service lightering activity for VLCCs in the USGC, basis the Galveston Offshore Lightering Area (GOLA), offshore Houston.

According to data from Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights, of all the VLCCs that loaded on the Gulf Coast from January through October 2022, about 50% lightered at GOLA, compared with 48% in the whole of 2021 and 54% in 2020. Additionally, Platts understands that companies providing lightering services in the spot market typically price these basis Houston-STS GOLA.

The USGC Aframax Lumpsum Lightering assessment reflects the cost of a three-day, full-service lightering operation for 500,000 barrel cargoes loading seven to 10 days forward in the USGC.

Platts would also like to clarify that this assessment includes the cost of bunker fuel as well as typical service items for a full-service lightering operation, such as servicing ships, mooring masters, and port costs. It does not, however, include wharfage and dockage costs as Platts understands these are typically additional costs for the charterer's account.

The affected assessments are:

These assessments appear in Dirty Tankerwire; on Platts Global Tanker Alert pages PGT1972, and PGT1973; Platts Shipping Alert pages SHP2440 and SHP2441; as well as in the Platts price database under the codes above.

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