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SUBSCRIBER NOTE: Platts clarifies consideration of lump sums in LNG freight ballast rates

S&P Global Platts would like to clarify that its LNG ballast rate assessments also take into consideration any lump sum positioning or repositioning costs that may be incurred in spot fixtures.

Platts LNG ballast rate assessments can be found using the following symbols: LNG Pacific Ballast Rate (AAXTN00) LNG Atlantic Ballast Rate (AAXTM00)

The ballast rates reflect the number of days for which hire is payable during the ballasting part of a spot voyage. In tight markets the ballast rate tends to be a higher percentage, with delivery closer to last discharge port and/or re-delivery closer to the next loadport. In this situation a lump sum may also be included in the total charter cost to position or reposition the carrier after the cargo is discharged: in such occasions Platts ballast rate assessments factor this lump sum into the percentage of the total day rate.

Platts day rate and ballast rates are combined to calculate the recently-launched Time Charter Rates (TCRs), which reflect round-trip economics (inclusive of day rates, ballast rates and any applicable lump sum, on key routes: Australia (Dampier) - Japan (Futtsu) US Gulf Coast (Sabine Pass) - Japan (Futtsu) US Gulf Coast (Sabine Pass) - Northwest Europe (Zeebrugge)

The TCRs were launched November 1, 2019, but data is available for these TCRs back to September 2018. When assessing LNG freight rates Platts contacts ship brokers, ship owners, charterers and other active spot market participants in its data gathering process.

Please send feedback, questions and comments to lngeditorialteam@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 upon request.