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Platts to amend cargo sizes for Caribbean Suezmax assessments

S&P Global Platts will 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.

The cargo size change was first proposed in a subscriber note published October 4. (https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/092719-platts-proposes-to-discontinue-90kt-150-kt-americas-freight-assessments)

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 will 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 will change the cargo size basis for its Suezmax Caribbean-UK Continent and Caribbean-Mediterran ean freight assessments to 145,000 mt from 130,000 mt.

The changes will affect the following:

Assessment:
Code:
Caribbean-UK Continent cargo size
PFAGVSZ
Caribbean-UK Continent Worldscale
PFAGV10
Caribbean-UK Continent $/mt
TDAAU00
Caribbean-Mediterran ean cargo size
PFAGUSZ
Caribbean-Mediterran ean Worldscale
PFAGU10
Caribbean-Mediterran ean $/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
PFAOB00
Caribbean-US Gulf Coast $/mt TDAAZ00
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.

Please send any comments or questions to shipping@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.