Platts launches yearly, dynamic carbon-accounted base rates, EUA charges for assessed routes

Platts, part of S&P Global Commodity Insights, has launched yearly and dynamic carbon-accounted base rates on 823 assessed routes involving EU ports, effective Dec. 2.

The rates assessed in $/mt expand the current suite of Platts Base Rates based on conventional fuel, which was launched on May 15, 2023.

Details can be referenced in the subscriber methodology note here.

The new carbon-accounted Base Rates reflect all the costs of a round trip for a tanker, considering one or more loading and discharge ports.

These rates include fuel expenses, port costs, agency fees, other well-known miscellaneous costs and EUA charges.

In line with EU Directive 2023/959 of May 10, 2023, the carbon-accounted Base Rates fully reflect the costs to offset:

100% of carbon dioxide emissions for intra-EU voyages and time spent in European Economic Area (EEA) berths.

50% of carbon dioxide emissions for all inbound and outbound voyages between EU and non-EU member states.

0% of carbon dioxide emissions, while the vessel is in non-EU member state ports.

The yearly carbon-accounted Base Rates include an average of spot values of EU Allowances (EUA), from Oct. 1 of the previous year to Sept. 30 of the current year (symbol code ABQVQ00).

The dynamic carbon-accounted Base Rates include the spot value of EUA for the corresponding date (symbol code EADLP00).

Additionally, yearly, and dynamic EUA charges have been published as standalone values to represent the estimated cost of carbon emissions of each assessed route.

The charges have been calculated based on the distances within Emission Control Areas (ECA) and outside ECA for each assessed route and are expressed in USD.

The methodology adheres to the phased-in approach outlined by the European Parliament regarding the reporting and payment of emissions, as indicated below:

70% of emissions reported in 2025 payable in 2026.

100% of emissions reported in 2026 payable in 2027.

The yearly and dynamic carbon-accounted Base Rates can be accessed on Platts Connect under Tanker Freight.

Please send all comments or questions to tankers@spglobal.com and pricegroup@spglobal.com.

For written comments, please indicate clearly if they 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.