Maritime & Shipping, Dry Freight

December 02, 2024

Platts launches weighted average Global Supramax dry bulk TCE indexes from Dec 2

Platts, part of S&P Global Commodity Insights, has launched daily global weighted average Supramax time charter equivalent, or TCE, indices reflecting Atlantic and Pacific trade, basis 0.5% sulfur bunker fuel and scrubber-fitted ships, and comprising ton-mile rates of eleven key TCE assessments, effective Dec. 2, 2024. The new indices are called GSP 11 and GSP 11S.

Platts first proposed these assessments in a subscriber note published October 21 and available here (opens in a new tab)followed by a decision note published Nov. 4 here (opens in a new tab).

The new GSP 11 index is a demand-weighted average of eleven key TCE assessments basis 0.5% sulfur bunker fuel, while GSP 11S is an average of the same TCE assessments basis scrubber-fitted ships.

These new indexes reflect an important part of the global dry bulk market that is otherwise not reflected in existing price benchmarks. Supramax vessels in both the Atlantic and Pacific Oceans typically remain within the regions and the associated flows depend significantly on triangulation, which helps to minimize ballast time as well as boost tonnage utilization and earnings.

The new indices reflect this important vessel flow that includes the movement of commodities such as grains, coal, scrap, petcoke and limestone.

The new GSP 11 index assessments for the 57,000 dwt Supramax class vessel are derived by applying an allocated weighting to the daily Supramax TCE assessments of eleven key voyages published at 1630 pm London time. The index assessment will not be published on days when either Singapore or London, or both locations have a public holiday.

The weightings for the individual TCE assessments are:

Basis bunker fuel 0.5%: Route Voyage Weighting (%)

PSTCE33L Newcastle, Australia-Campha, Vietnam 5%
PSTCE22L S Kalimantan, Indonesia-Paradip, India 18%
PSTCE24L E Kalimantan, Indonesia-Guangzhou, China 9%
PSTCE21L Richards Bay, South Africa-Paradip, India 6%
PSTCE19L Mina Saqr, UAE-Paradip, India 20%
PSTCE12L New Orleans, Louisiana to Kashima, Japan 20%
PSTCE17L Houston, Texas to Krishnapatnam, India 5%
PSTCE11L New Orleans, Louisiana to Iskenderun, Turkey 4%
PSTCE291L Santos, Brazil to Qingdao, China 2%
PSTCE32L San Lorenzo, Argentina to Bejaia, Algeria 9%
PSTCE16L Rotterdam, Netherlands to Aliaga, Turkey 2%

Basis scrubber fitted: Route Voyage Weighting (%)

PSTCE33 Newcastle, Australia-Campha, Vietnam 5%
PSTCE22 S Kalimantan, Indonesia-Paradip, India 18%
PSTCE24 E Kalimantan, Indonesia-Guangzhou, China 9%
PSTCE21 Richards Bay, South Africa-Paradip, India 6%
PSTCE19 Mina Saqr, UAE-Paradip, India 20%
PSTCE12 New Orleans, Louisiana to Kashima, Japan 20%
PSTCE17 Houston, Texas to Krishnapatnam, India 5%
PSTCE11 New Orleans, Louisiana to Iskenderun, Turkey 4%
PSTCE291 Santos, Brazil to Qingdao, China 2%
PSTCE32 San Lorenzo, Argentina to Bejaia, Algeria 9%
PSTCE16 Rotterdam, Netherlands to Aliaga, Turkey 2%

The assessments appear in Dry Freight Wire, Platts Shipping Alert pages MH3976, SH2614, MH3970, SH0612, SH2615, MH3977, MH3971 and SH0613, and in the Platts price database under the codes above.

Please send all feedback, comments or questions to shipping@spglobal.com and pricegroup@spglobal.com.

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