Press Release
S&P Global Energy’s Platts dry freight assessments used as settlement basis for new CME Group futures contracts
Five financially settled contracts reference Capesize and Panamax dry freight routes linked to iron ore and grain flows
LONDON, November 2, 2026 — S&P Global Energy, the leading independent provider of information, data, analysis and benchmark prices for global commodity markets today announced that Platts dry freight price assessments are being used as the settlement basis for five new financially settled dry freight futures contracts listed by CME Group. Platts is part of S&P Global Energy.
"The use of Platts dry freight assessments as the settlement basis for these contracts is an important milestone for Platts and for the freight markets we serve," said Vera Blei, Head of Platts, S&P Global Energy. " Platts assessments are grounded in transparent, independent physical market methodology and reflect the role those assessments play in helping market participants understand connected commodity markets."
The contracts cover two Capesize routes, Western Australia–Qingdao and Tubarão–Qingdao, and three Panamax assessments: Santos–Qingdao, Santos–Qingdao prompt and New Orleans–Qingdao. Each contract is for 1,000 metric tons and settles against the monthly average of the relevant Platts assessment, in US dollars per metric ton.
"Freight rates can move sharply with shifts in global trade, vessel supply and commodity flows, and that volatility makes effective hedging essential for participants across the supply chain," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "These cash-settled contracts give clients a transparent way to manage that exposure."
The routes put Brazilian and US Gulf grain freight to China in the same offering as Australian and Brazilian iron ore voyages. Listed contract months are tradable out to December 2027.
"Freight is integral to the economics of moving grain and iron ore," said Peter Norfolk, Global Director, Platts Shipping & Freight, S&P Global Energy. "Using these assessments as settlement basis gives market participants another independent price reference for understanding freight cost alongside the cargoes they trade, grounded in the physical voyage market."
CME Group has listed the contracts for trading on CME Globex and for clearing through CME ClearPort.
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About S&P Global Energy
At S&P Global Energy, our comprehensive view of global commodities markets enables our customers to make superior decisions and create long-term, sustainable value. Our four core capabilities are: Platts for pricing and news; CERA for research and advisory; Horizons for physical, digital and environmental value chain intelligence; and Events for industry collaboration.
S&P Global Energy is a division of S&P Global (NYSE: SPGI). S&P Global enables businesses, governments, and individuals with trusted data, expertise, and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape. Learn more at www.spglobal.com/energy