Platts to introduce dry season IPP cost adjustments for Manaus from July 20, 2026

Platts, part of S&P Global Energy, will introduce a seasonal adjustment to its import parity prices for ultra low sulfur diesel (BUMAB00), jet fuel (BJMAB00) and gasoline (BGMAB00) at the northern Brazilian port of Manaus, to reflect additional logistics costs incurred during the Amazon River dry season, effective July 20, 2026.

Vessels entering Manaus during the dry season, typically between September and December, often need to start reducing cargo volumes due to lower draft at the Tabocal stretch of the river. The transshipment happens at the nearby Itacoatiara port, before the vessel can reach Manaus.

When the draft falls below the standard depth (11.5 meters), part of the cargo must be offloaded and transported separately via barge. The relationship between river depth and cargo relief requirements is nonlinear, and the magnitude of the relief depends on the severity of the drought that year.

Additional ship-to-barge costs at Itacoatiara can reach up to Real 35/cubic meter, while barge freight carries a Real 60/cubic meter premium, totaling Real 95/cubic meter.

The adjustment will be calculated based on the proportion of cargo requiring transshipment, with costs varying at key river depth thresholds as shown below:

The adjustment formula will be: IPP Adjustment (Real/cubic meter) = (% Cargo Relieved) × Real 95. Platts will monitor ship-to-barge costs and port demurrage changes in the region that eventually stem from the dry season to adjust costs accordingly.

The IPPs for ultra-low sulfur diesel, jet fuel and gasoline in Manaus appear in Latin American Wire and on fixed page 166 of Platts Global Alert (PGA) and Platts Refined Products Alert (PRF), with their weekly averages published in Platts Brazil Fuels Weekly and its Portuguese version Platts Combustíveis Brasil, as well as on PGA and PRF fixed page 168.

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