SUBSCRIBER NOTE: Platts alters dry bulk Panamax New Orleans-Fangcheng assessment format

Following market feedback to the December 1, 2014 launch of the dry bulk freight Panamax assessment reflecting 60,000 mt cargoes loading in New Orleans, US Gulf Coast and discharging at Fangcheng, South China, Platts is changing this assessment from the current format of a differential to the New Orleans-Qingdao route to an outright $/mt freight rate. This change is effective immediately.

The name of this assessment, which appears on the fixed page PGA - MH3938 will be amended from the current "Differential Qingdao-Fangcheng Panamax" to "New Orleans-Fangcheng Panamax", reflecting the reporting format which is preferred by industry participants. The description will also be changed in the Dry Freight Wire publication from the current "Differential from basis Qingdao to Fangcheng, South China 60" to "New Orleans, US Gulf Coast-Fangcheng, South China 60".

This route will continue to be assessed at $/mt with no changes to the freight rate assessment methodology and only the relevant descriptions will be amended.

Please send all comments or questions to shipping@platts.com and pricegroup@platts.com.

For written comments, please provide a clear indication if comments 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 upon request.