S&P Global Platts proposes to change the cargo size reflected in several of its Americas Suezmax assessments, effective January 2, 2020, to better reflect the way freight in those markets is predominantly traded.
Platts has observed that there has been a shift to fixing on a larger cargo basis for Suezmax voyages loading in the Caribbean in recent years, as market participants look to maximize economies of scale on routes traded on a Worldscale basis and also to take advantage of recent port upgrades and draft capabilities.
Spot fixtures and freight indications for regional Suezmax voyages loading in the Caribbean are now typically negotiated on a 150,000 mt basis.
Platts proposes to change the cargo size basis for its Suezmax Caribbean-US Gulf Coast and Caribbean-US Atlantic Coast freight assessments to 150,000 mt, from the current 130,000 mt and its cross-Caribbean Suezmax assessment to 150,000 mt from 140,000 mt.
For trans-Atlantic voyages out of the Caribbean, Platts has observed that the market predominantly trades on a 145,000 mt basis.
Platts proposes to change the cargo size basis for its Suezmax Caribbean-UK Continent and Caribbean-Mediterranean freight assessments to 145,000 mt from 130,000 mt.
The proposed change would affect the following:
Assessment: Code: Caribbean-UK Continent cargo size PFAGVSZ Caribbean-UK Continent Worldscale PFAGV10 Caribbean-UK Continent $/mt TDAAU00
Caribbean-Mediterranean cargo size PFAGUSZ Caribbean-Mediterranean Worldscale PFAGU10 Caribbean-Mediterranean $/mt TDAAS00
Caribbean-US Atlantic Coast cargo size PFAOASZ Caribbean-US Atlantic Coast Worldscale PFAOA00 Caribbean-US Atlantic Coast $/mt TDAAW00
Caribbean-US Gulf Coast cargo size PFAOBSZ Caribbean-US Gulf Coast Worldscale PFAOB00 Caribbean-US Gulf Coast $/mt TDAAZ00
Caribbean-Caribbean cargo size TDCARSZ Caribbean-Caribbean Worldscale TDCCS00 Caribbean-Caribbean $/mt TDCAR00
These assessments appear on Platts Global Alert page 1972, on Platts Shipping Alert page 2440, in the Dirty Tankerwire and in the Platts price database under the codes above.
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