Effective April 1, 2021, S&P Global Platts has specified that its VLCC freight assessments for West Africa-East Coast India and West Africa-West Coast India reflect a dual port loading basis of Bonny, Nigeria, and Dalia, Angola.
Platts first proposed this in a subscriber note published Jan. 20, 2021: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/012021-platts-proposes-to-amend-west-africa-to-india-lumpsum-dirty-tanker-assessments-to-basis-bonny-dalia-dual-loading
Platts understands that VLCC freight rates on both West Africa-to-West Coast India and West Africa-to-East Coast India routes can vary significantly according to loading ports, with ports in Nigeria and Cameroon typically charging a premium compared with ports in Angola. Given that VLCCs typically have dual-port loadings and hence reflect port costs from two loading locations, the Platts VLCC lumpsum freight assessments for West Africa-to-West Coast India and West Africa-to-East Coast India will now reflect dual-port loadings at Bonny and Dalia, in order to reflect the variability of port costs in the loading region.
Platts may publish price information, including fixtures, involving other load ports or load port combinations, but this may be normalized to the stated dual port basis for assessment purposes.
The affected assessments are:
These assessments are published in Dirty Tankerwire; on Platts Global Tanker pages 1970 and 1971, Platts Shipping Alert pages 1440 and 1441, and Platts Global Alert page 919; as well as in the Platts price database under the codes above.
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