S&P Global Platts has launched US Gulf Coast-Brazil freight assessments for Long Range 1 tankers, effective October 1.
The new tanker assessments were first proposed in a subscriber note published August 1 (https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/080119-p latts-proposes-to-launch-usgc-brazil-lr1-freight-assessment).
The new assessments reflect the significant increase in the volume of diesel and other clean products moving between these two regions on larger LR1 vessels since H2 2018, and also follow recent infrastructure expansions in Brazil.
The new assessments are assessed on a Worldscale basis and published as Worldscale points.
Platts also publishes the equivalent US dollar per metric ton value for these assessments.
The new assessments are:
USGC-North Brazil: This assessment reflects the cost of chartering a clean LR1 tanker to transport a 60,000 mt cargo from the US Gulf Coast to the region north of Salvador, for loading seven to 20 days forward. The assessment reflects loadings from the Port of South Louisiana and Houston; and discharge at Sao Luis and Maceio.
USGC-Brazil: This assessment reflects the cost of chartering a clean LR1 tanker to transport a 60,000 mt cargo from the US Gulf Coast to the region comprising Salvador and below in Brazil, for loading seven to 20 days forward. The assessment reflects loadings from the Port of South Louisiana, Houston and Corpus Christi; and discharge at Santos, Salvador and Tramandai.
Symbols will are as follows: Clean USGC-Brazil LR1 60kt $/mt: TCBRA00 Clean USGC-Brazil LR1 60kt $/mt MAvg: TCBRA03 Clean USGC-Brazil LR1 60kt Worldscale: TCBRB00 Clean USGC-Brazil LR1 60kt Worldscale MAvg: TCBRB03 Clean USGC-Brazil LR1 60kt cargo size: TCBRASZ Clean USGC-North Brazil LR1 60kt $/mt: TCNBA00 Clean USGC-North Brazil LR1 60kt $/mt MAvg: TCNBA03 Clean USGC-North Brazil LR1 60kt Worldscale: TCNBB00 Clean USGC-North Brazil LR1 60kt Worldscale MAvg: TCNBB03 Clean USGC-North Brazil LR1 60kt cargo size: TCNBASZ
The new assessments are published on the Shipping Alert page SH2330, on the Platts Global Alert page MH1924, in the Clean Tankerwire and in the Platts price database under the above codes.
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