Freight Methodology PDF
Freight Methodology PDF
Freight Methodology PDF
Freight
Latest update: August 2019
Revision history 39
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Specifications guide Freight: August 2019
Definitions of the trading locations for which Platts publishes daily indexes or assessments
The following specifications guide contains the primary specifications for Platts global freight assessments. All the assessments listed here employ Platts Assessments Methodology, as published at
https://www.spglobal.com/platts/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf.
These guides are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification questions.
This guide is current at the time of publication. Platts may issue further updates and enhancements to this guide and will announce these to subscribers through its usual publications of record. Such
updates will be included in the next version of this guide. Platts editorial staff and managers are available to provide guidance when assessment issues require clarification.
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 2
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 3
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 4
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 5
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 6
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 7
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 8
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 9
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 10
Specifications guide Freight: August 2019
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 11
Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
Oil tanker & barge freight East Coast Canada: Atlantic coast, including the Gulf of St TANKER SIZES & LAYCANS
Lawrence
Vessel class Typical size Laycans assessed
Platts tanker and barge freight assessments reflect the (dwt) (days forward)
transactable value of chartering a vessel at the following times: US West Coast: Seattle to Los Angeles East of Suez
Handysize/MR 25,000-55,000 7-15
LR1 55,000-80,000 7-15
Singapore 16:30 – East of Suez Tankers (Clean and Dirty) US Gulf Coast: Pascagoula, Mississippi to Corpus Christi, Texas LR2 80,000-120,000 7-21
Aframax 80,000-120,000 10-20
London 16:30 – West of Suez EMEA Tankers & Barges (Clean and US Atlantic Coast: North of Cape Hatteras to Portland, Maine Suezmax 120,000-200,000 10-20
Dirty) VLCC 160,000-320,000 10-25
West of Suez - EMEA
Persian Gulf: All ports in the Persian Gulf (also known as the Intermediate 10,000-25,000 5-15
Houston 13:30 – West of Suez Americas Tankers (Clean and Arab Gulf), up to and including the Gulf of Oman Handy-size/MR* 25,000-55,000 5-15
Dirty) MR** 25,000-55,000 7-25
LR1 55,000-80,000 7-25
Indonesia: All ports in Indonesia
LR2 80,000-120,000 7-25
Panamax 50,000-80,000 7-25
Tanker assessments
South Korea: All ports in South Korea Aframax 80,000-120,000 7-25
Dirty tankers are defined as those carrying crude, fuel oil or Suezmax 120,000-200,000 10-30
VLCC 160,000-320,000 10-35
other “dirty” petroleum products such as vacuum gasoil or dirty Japan: All ports in Japan West of Suez - Americas
condensate. Platts also publishes separate assessments for MR 25,000-55,000 3-10
smaller dirty tankers and barges dedicated to moving just fuel China: All ports in China LR1 55,000-80,000 7-20
Panamax 50,000-80,000 5-20
oil. Clean tankers and barges carry light ends such as gasoline or
Aframax Lightering*** 500,000 barrels 7-10
naphtha, or middle distillates such as gasoil and jet fuel. East Coast Australia: All ports in East Coast Australia Suezmax 120,000-200,000 7-25
VLCC 160,000-320,000 15-45
Location: Platts assesses a number of key shipping regions West Coast Australia: All ports in West Coast Australia *For a European voyage.
under broad geographic descriptions. A list of those descriptions, **For voyages from Europe to anywhere else in the world.
***For three-day turnaround with $/day overtime charged for additonal time
and the markets they represent, are as follows: South Coast Australia: All ports in South Coast Australia
UK Continent: Bilbao to Hamburg, plus southern Sweden and North Coast Australia: All ports in North Coast Australia Size and specifications: The tonnage specified in the Platts
western Norway assessment tables represents the weight of the cargo carried.
Red Sea: All ports in the Red Sea Platts may normalize freight rates for charters of a different size
Mediterranean: All ports from Gibraltar to Istanbul for assessment purposes, including pro-rating the market rate
East Coast India: All East Coast India ports to the size of the cargo reflected in the assessment.
Baltic: All ports in Russia (Baltic), Latvia, Estonia, Lithuania,
Sweden (Baltic), Germany (Baltic) and Poland West Coast India: All West Coast India ports Tanker assessments are typically based on double-hull vessels up
to 15 years of age. Where there is a broadly equal amount of market
Black Sea: All ports in the Black Sea East Africa: From the Horn of Africa to Mozambique activity taking place for both well-approved, modern tonnage and
older, less approved tonnage in the same market concurrently,
Caribbean: Venezuela, northern Colombia and the islands in the West Africa: From Ghana to Namibia Platts assessments will be based on the higher-end quality of the
Caribbean Sea market. The aim is to reflect where the bulk of spot market activity
South Africa: All ports in South Africa is taking place in each of the routes Platts assesses.
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Specifications guide Freight: August 2019
Timing: Platts assesses different laycan date ranges according Voe-LOOP, Mongstad-Houston and Flotta-Corpus Christi. Platts 21 days forward. It also reflects the daily lump-sum demurrage
to prevailing regional market practice. Platts reflects fixtures spot Worldscale assessments are applied to this basket to rate of dirty Suezmax tankers, typically loading a135,000 mt
that fall within the typical date ranges in its assessments. produce the $/mt assessment. The basket is updated annually, cargo seven to 21 days forward.
Fixtures reported for dates outside of these typical ranges when the Worldscale Association establishes new flat rates for
may be normalized to the assessed laycans for assessment the year. Turkish Straits delays: The Turkish Straits delays assessment
purposes. reflects the delays incurred by ships over 200m LOA transiting
Lump-sum assessments: In some tanker markets, freight is through the Dardanelles and Bosporus Straits northbound and
Tanker freight is commonly traded in the spot market as a traded and assessed on a US dollar lump-sum basis, reflecting southbound.
percentage of Worldscale flat rates or as a “lump-sum” rate. the total cost of chartering a ship of a specified size on a
Platts also publishes the equivalent US dollars per metric particular voyage. Lump-sum trades typically include harbor ECA charges: Platts tanker assessments prior to 2016 did not
ton rate for all tanker routes assessed, except for the US Gulf dues, port costs and other transportation costs. For routes reflect the additional costs associated with using 0.1% sulfur
Coast Aframax lump-sum lightering assessment which is basis which are assessed on a lump-sum basis, the $/mt assessment bunker fuel in the Emission Control Areas (ECA) in the Baltic
500,000 barrels. is calculated by dividing the lump-sum total by the size of the and North Sea. As such, the value of spot fixtures in the tanker
cargo assessed. In the Americas, USGC-loading VLCC freight markets which were used in its assessments during that time
Worldscale assessments: In markets where freight is traded assessments are assessed on a reverse lightering basis, were normalized, when those spot fixtures included ECA charges
on a Worldscale basis, Platts publishes freight assessments in excluding port costs and lightering charges. based on the use of low-sulfur fuels in those zones. From 2016,
“points”, which reflect a percentage of the prevailing Worldscale the additional costs of complying with ECA regulations were
annual flat rate. Replacements: Assessments are based on original vessel included within the Worldscale flat rates. These costs were
fixtures. In the event that a fixture fails and a replacement ship calculated by Worldscale using a breakdown of voyage distances
For example, if the Worldscale annual flat rate – also known as is subsequently promptly fixed, the replacement rate may be within and outside the ECA.
Worldscale 100 – is set at $10.00 per metric ton for a specific normalized to the assessed laycan.
voyage, a Platts assessment of 50 points for that voyage would
Barge assessments
mean that the class of ship being assessed is being chartered Canals: Assessments for voyages which would involve a canal
for $5.00 per metric ton of freight on that voyage. transit, including the Suez Canal and the Panama Canal, include Platts publishes daily assessments for a number of European
canal fees. barge routes from the Rotterdam trading hub to destinations in
The Worldscale flat rates are published each year by the the Antwerp-Rotterdam-Amsterdam (ARA) area, Germany and
Worldscale Association. From time to time, the Worldscale Singapore demurrage: The Dirty Demurrage FOB Singapore Switzerland. These assessments are published in US dollars per
Association publishes revisions to these flat rates in its circulars. assessment reflects the daily lump-sum demurrage rate of metric ton.
Platts reviews these changes with the industry for possible dirty Aframax tankers, typically loading an 80,000 mt cargo
inclusion into Platts freight calculations. Platts will update the seven to 15 days forward. The Clean Demurrage FOB Singapore Size: The tonnage reflected is 2kt for clean assessments and 4kt
market of any such changes through published subscriber notes. assessment reflects the daily lump-sum demurrage rate of clean for dirty assessments. Platts may consider charters of a similar
Medium Range tankers, typically loading a 30,000 mt cargo, as a size for assessment purposes, but these will be normalized to
Platts determines the equivalent $/mt freight rate based on a daily lump-sum rate seven to 15 days forward. the assessed size.
basket of Worldscale flat rates comprising several key routes
between the two regions specified in the assessment. For Black Sea demurrage: The Turkish Straits demurrage Timing: Barge assessments reflect charters for journeys two to
example, the UKC-USGC $/mt assessment for chartering a assessment reflects the daily lump-sum demurrage rate of dirty seven days forward from the date of publication.
Suezmax is based on a basket of the following routes: Sullom Aframax tankers, typically loading an 80,000 mt cargo seven to
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 18
Specifications guide Freight: August 2019
LPG freight
Assessment Code Mavg Laycan Cargo size Currency UOM
Asia
VLGC Persian Gulf-Japan AAPNI00 AAPNI03 20-40 days 44 kt US$ MT
VLGC Persian Gulf-South China AAPNG00 AAPNG03 20-40 days 44 kt US$ MT
VLGC Persian Gulf-East China AAPNH00 AAPNH03 20-40 days 44 kt US$ MT
Pressurized Thailand-Guangzhou AAPNJ00 AAPNJ03 7-15 days 1-3 kt US$ MT
Pressurized Thailand-Guangxi AAPNK00 AAPNK03 7-15 days 1-3 kt US$ MT
Pressurized Thailand-Shantou AAPNL00 AAPNL03 7-15 days 1-3 kt US$ MT
Pressurized Japan-Shanghai AAPNM00 AAPNM03 7-15 days 1-3 kt US$ MT
Pressurized Korea-Shanghai AAPNN00 AAPNN03 7-15 days 1-3 kt US$ MT
Americas
VLGC Freight Houston-Japan ($/mt) AAXIS00 AAXIS03 15-45 days 44 kt US$ MT
VLGC Freight Houston-Japan (cts/gal) AAXIT00 AAXIT03 15-45 days 44 kt US Cents Gallon
VLGC Freight Houston-NWE ($/mt) AAXIQ00 AAXIQ03 15-45 days 44 kt US$ MT
VLGC Freight Houston-NWE (cts/gal) AAXIR00 AAXIR03 15-45 days 44 kt US Cents Gallon
LPG freight for assessment purposes. with spot fixtures for nearby loading locations including Qatar
and Bahrain normalized where needed. “Japan” deliveries are
Platts liquefied petroleum gas (LPG) freight assessments reflect Timing: Platts assesses different laycan date ranges according normalized to Chiba for freight assessments, while “East China”
the transactable value of chartering a Very Large Gas Carrier to prevailing regional market practice. Platts reflects fixtures and “South China” are normalized to Shanghai and Guangzhou/
(VLGC) at the following times: that fall within the typical date ranges in its assessments. Shenzhen respectively.
Fixtures reported for dates outside of these typical ranges
Singapore 17:00 – Asia Pacific and Middle East VLGC freight may be normalized to the assessed laycans for assessment Pressurized freight rate assessments: Platts publishes five
purposes. assessments for the cost of freight along significant shipping
Houston 13:30 – Americas VLGC freight routes in the Asia Pacific region’s pressurized LPG markets.
These assessments are published in dollars per metric ton, and
Asia Pacific and Middle East VLGC freight
LPG freight is commonly traded in the spot market on a US reflect the cost of shipping pressurized LPG in small tankers
dollar lump-sum or US dollar/mt basis, reflecting the total cost Refrigerated freight rate assessments: Platts publishes three typically carrying between 1,000 mt and 3,000 mt of mixed LPG.
of chartering a ship of a specified size on a particular voyage. assessments for the cost of freight along major shipping Platts surveys the market and reflects spot charter fixtures
Lump-sum trades typically include harbor dues, port costs and routes in the refrigerated LPG markets. These assessments in the assessments, for cargoes loading 7 or more days after
other transportation costs. For routes which are assessed on a are published in dollars per metric ton, and reflect the cost of the date of assessment. The routes assessed are (1) Thailand
lump-sum basis, the $/mt assessment is calculated by dividing shipping refrigerated LPG in VLGCs. Platts surveys the market to the port of Guangzhou, (2) Thailand to the port of Guangxi,
the lump-sum total by the size of the cargo assessed. and reflect spot charter fixtures in the assessments, for cargoes (3) Thailand to the port of Shantou, (4) Japan to the port of
loading 20 or more days after the date of assessment. The Shanghai and (5) Korea to the port of Shanghai. For assessment
Size and specifications: The tonnage specified in the Platts three routes assessed are Persian Gulf to Japan, Persian Gulf to purposes, “Thailand” loadings are normalized to Map Ta Phut,
assessment tables represents the weight of the cargo carried. South China and Persian Gulf to East China. For the purposes “Korea” loadings are normalized to Ulsan/Onsan, and “Japan” to
Platts may normalize freight rates for charters of a different size of normalization, “Persian Gulf” reflects the port of Ras Tanura, the port of Chiba.
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 19
Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
Dry bulk carriers are defined as those ships carrying dry bulk normalize freight rates for charters of a different size for
material, including iron ore, thermal coal, metallurgical coal, assessment purposes, including pro-rating the market rate to
alumina, bauxite, nickel, concentrates and ores, cement, the size of the cargo reflected in the assessment. In addition,
fertilizers, sand, carbon steel products, stainless steel products, any loadings or deliveries to alternate ports; or fixtures outside
aluminum ingot, copper cathode, ferrous scrap, nonferrous of specified laycans; may be normalized to the stated basis for
scrap, limestone and dry edibles (sugar, grains, oilseeds). assessment purposes.
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 21
Specifications guide Freight: August 2019
IRON ORE
Assessment CODE Mavg Cargo Size CURRENCY UOM
DBF Iron Ore Tubarao Brazil ECSA-Rdam Netherlands 170kt $/mt Capesize IOTBE00 IOTBE03 170kt US dollars mt
DBF Iron Ore Mormugao WC India-Qingdao N China 50kt $/Mt Supramax IOWIC00 IOWIC03 50kt US dollars mt
DBF Iron Ore Mormugao WC India-Qingdao N China 75kt $/Mt Panamax IDBFI00 IDBFI03 75kt US dollars mt
DBF Iron Ore Paradip EC India-Qingdao N China 50kt $/Mt Supramax IOEIC00 IOEIC03 50kt US dollars mt
DBF Iron Ore Tubarao Brazil ECSA-Tubarao, S Brazil-Qingdao, N China 170kt $/mt Capesize IOFBC00 IOFBC03 170kt US dollars mt
DBF Iron Ore Yuzhny Ukraine-Qingdao N China 160kt $/Mt Capesize IOBSC00 IOBSC03 160kt US dollars mt
DBF Iron Ore Paradip EC India-Qingdao N China 50kt $/Mt Supramax IOEIC00 IOEIC03 50kt US dollars mt
DBF Iron Ore Port Hedland, W Australia-Qingdao N China 170kt $/Mt Capesize IOFAC00 IOFAC03 170kt US dollars mt
DBF Iron Ore Saldanha Bay, S Africa-Qingdao N China 170kt $/Mt Capesize IOFSA00 IOFSA03 170kt US dollars mt
DBF Iron Ore Freight Diff basis Qingdao to Beilun, E China IOFEC00 IOFEC03 170kt US dollars mt
DBF Iron Ore Freight Diff basis Qingdao to Caofeidian, Tianjin, Xingang, N China IOFNC00 IOFNC03 170kt US dollars mt
DBF Iron Ore Freight Diff basis Qingdao to Zhanjiang, Fangcheng, S China IOFSC00 IOFSC03 170kt US dollars mt
DBF Iron Ore Port Cartier Canada-Rotterdam Netherlands 70kt $/mt Panamax IOCRN00 IOCRN03 70kt US dollars mt
Iron ore Timing: Assessments reflect vessels chartered for loading two to
eight weeks forward from the date of assessment.
Assessments reflect iron ore freight between key production
centers, such as Australia, India (east and west coasts), Brazil Normalization: Platts freight assessments are based off freight
and South Africa, to key consumption centers, such as Qingdao differentials to major import ports from the basis port of
in North China. Freight assessments from East Coast India Qingdao in North China. This is on a Free Out (discharge costs
typically account for two-port co-loadings from Haldia and borne by charterer in $/mt) basis to other ports in North China
Paradip. (Caofeidian, Tianjin & Xingang), East China (Beilun) and South
China (Zhanjiang & Fangcheng).
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 22
Specifications guide Freight: August 2019
THERMAL COAL
Assessment CODE Mavg Cargo Size CURRENCY UOM
DBF Thermal Coal Puerto Bolivar Colombia-Rotterdam Netherlands 150kt $/mt Capesize CIBCR00 CIBCR03 150kt US dollars mt
Thermal Coal Discharge Fangcheng China Diff vs Richards Bay-Qingdao 160kt Capesize CIFSC00 CIFSC03 160kt US dollars mt
DBF Thermal Coal Gladstone NE Australia-Kashima Japan 150kt $/mt Capesize CIGAJ00 CIGAJ03 150kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Fangcheng S China 160 kt Capesize $/Mt CIFSC00 CIFSC03 160kt US dollars mt
Thermal Coal Discharge Dahej WCI Diff vs S Kalimantan-Mundra 75kt Panamax CIIDI00 CIIDI03 75kt US dollars mt
Thermal Coal Discharge Paradip ECI Diff vs S Kalimantan-Ennore 75kt Panamax CIIEE00 CIIEE03 75kt US dollars mt
DBF Thermal Coal S Kalimantan Indo-Krishnapatnam EC India 75kt $/Mt Panamax CIIEI00 CIIEI03 75kt US dollars mt
Thermal Coal Discharge Kandla WCI Diff vs S Kalimantan-Mundra 75kt Panamax CIIKW00 CIIKW03 75kt US dollars mt
Thermal Coal Discharge New Mangalore WCI Diff vs S Kalimantan-Mundra 75kt Panamax CIINM00 CIINM03 75kt US dollars mt
Thermal Coal Discharge basis Paradip ECI Diff vs S Kalimantan-Vizag 75kt Panamax CIIVI00 CIIVI03 75kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Kandla WC India 55kt $/mt Ultramax CRBKA00 CRBKA03 55kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Port Qasim Pakistan 50kt $/mt Supramax CRBPB00 CRBPB03 50kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Krishnapatnam EC India 55 kt $/Mt Supramax CIKEI00 CIKEI03 55kt US dollars mt
DBF Thermal Coal Ventspils Latvia-Rdam Netherlands 70kt $/Mt Panamax CILTN00 CILTN03 70kt US dollars mt
DBF Thermal Coal Qinhuangdao N China-Guangzhou S China 50kt $/Mt Supramax CIQGU00 CIQGU03 50kt US dollars mt
DBF Thermal Coal Qinhuangdao N China-Guangzhou S China 40kt $/Mt Handymax CIQIG00 CIQIG03 40kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Qingdao N China 160kt Capesize $/Mt CIQNC00 CIQNC03 160kt US dollars mt
Thermal Coal Discharge Dahej WCI Diff vs Richards Bay-Mundra 75kt Panamax CIRBD00 CIRBD03 75kt US dollars mt
Thermal Coal Discharge New Mangalore WCI Diff vs Richards Bay-Mundra 75kt Panamax CIRBI00 CIRBI03 75kt US dollars mt
Thermal Coal Discharge Kandla WCI Diff vs Richards Bay-Mundra 75kt Panamax CIRBK00 CIRBK03 75kt US dollars mt
Thermal Coal Discharge Vizag ECI Diff vs Richards Bay-Krishnapatnam 75kt Panamax CIRBV00 CIRBV03 75kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Krishnapatnam EC India 150kt $/Mt Capesize CIREI00 CIREI03 150kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Mundra WC India 150kt $/Mt Capesize CIRWI00 CIRWI03 150kt US dollars mt
Thermal Coal Discharge Ennore ECI Diff vs Richards Bay-Krishnapatnam 75kt Panamax CISAE00 CISAE03 75kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Krishnapatnam EC India 75kt $/Mt Panamax CISAK00 CISAK03 75kt US dollars mt
Thermal Coal Discharge Vizag ECI Diff vs Richards Bay-Krishnapatnam 55kt Supramax CISAV00 CISAV03 55kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Navlakhi WC India 55kt $/mt Supramax CIIEN00 CIIEN03 55kt US dollars mt
DBF Thermal Coal Richards Bay S Africa-Paradip EC India 55kt $/mt Supramax CIIEM00 CIIEM03 55kt US dollars mt
DBF Thermal Coal S Kalimantan Indo-Navlakhi WC India 55kt $/mt Supramax CIIEK00 CIIEK03 55kt US dollars mt
DBF Thermal Coal S Kalimantan Indo-Paradip EC India 55kt $/mt Supramax CIIEJ00 CIIEJ03 55kt US dollars mt
Thermal Coal Loading E Kalimantan Indo Diff vs S Kalimantan Indo 55kt $/mt Supramax CIIEL00 CIIEL03 55kt US dollars mt
DBF Thermal Coal S Kalimantan Indo-Krishnapatnam EC India 55 kt $/Mt Supramax CISKK00 CISKK03 55kt US dollars mt
Thermal Coal Discharge Mundra WCI Diff vs S Kalimantan-New Mangalore 55kt Supramax CISKN00 CISKN03 55kt US dollars mt
Thermal Coal Discharge Mundra WCI Diff vs Richards Bay-New Mangalore 55kt Supramax CISKO00 CISKO03 55kt US dollars mt
Thermal Coal Discharge Vizag ECI Diff vs S Kalimantan-Krishnapatnam 55kt Supramax CISKV00 CISKV03 55kt US dollars mt
DBF Thermal Coal E Kalimantan Indo-Guangzhou China 65kt $/mt Panamax CRYAE00 CRYAE03 65kt US dollars mt
DBF Thermal Coal E Kalimantan Indo-Guangzhou China 50kt $/mt Supramax CRYAD00 CRYAD03 50kt US dollars mt
DBF Coal Hampton Roads Virginia USEC-Qingdao N China 140kt $/Mt Capesize CIVAC00 CIVAC03 140kt US dollars mt
DBF Thermal Coal Hampton Roads Virgina US East Coast-Isdemir Turkey 70kt $/mt Panamax CIHIT00 CIHIT03 70kt US dollars mt
DBF Thermal Coal Newcastle SE Australia-Pohang S Korea 130kt $/mt Capesize CINAK00 CINAK03 130kt US dollars mt
DBF Thermal Coal Newcastle SE Australia-Kinuura Japan 75kt $/mt Panamax CINAJ00 CINAJ03 75kt US dollars mt
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Specifications guide Freight: August 2019
THERMAL COAL
Assessment CODE Mavg Cargo Size CURRENCY UOM
DBF Thermal Coal Richards Bay S Africa-Rotterdam Netherlands 150kt $/mt Capesize CIRBN00 CIRBN03 150kt US dollars mt
Freight Rate Dry Bulk Richards Bay-West Coast India Panamax $/mt CSAKL00 CSAKL03 75kt US dollars mt
Freight Rate Dry Bulk Richards Bay-East Coast India Panamax Euro/mt CSAKM00 US dollars mt
Freight Rate Dry Bulk Richards Bay-East Coast India Panamax $/mt CSAKN00 CSAKN03 75kt US dollars mt
Freight Rate Dry Bulk Richards Bay-West Coast India Panamax Euro/mt CSAKO00 US dollars mt
Freight Rate Dry Bulk Kalimantan-West Coast India Panamax $/mt CSAKP00 CSAKP03 75kt US dollars mt
Freight Rate Dry Bulk Kalimantan-West Coast India Panamax Euro/mt CSAKQ00 US dollars mt
Freight Rate Dry Bulk Kalimantan-East Coast India Panamax $/mt CSAKR00 CSAKR03 75kt US dollars mt
Freight Rate Dry Bulk Kalimantan-East Coast India Panamax Euro/mt CSAKS00 US dollars mt
Thermal coal for Panamax and Supramax vessels loading between July 11 and other Indian ports in West Coast India (Dahej, New Mangalore &
July 21. For Capesize vessels, on July 1, Platts assesses rates for Kandla) and East Coast India (Ennore & Vizag).
Platts thermal coal Panamax assessments reflect gearless vessels loading between July 21 and August 5.
vessels; spot fixtures for geared vessels may be normalized for Implied Freight: The Newcastle, Australia to Kinuura, Japan
assessment purposes. Ultramax and Supramax assessments for Normalization: Platts freight assessments to China are based 75kt Panamax freight assessment is an implied number derived
thermal coal reflect geared vessels. off freight differentials to major import ports from the basis port from the Hay Point, Australia, to Qingdao, China, Panamax Time
of Qingdao in North China. This is on a Free In (loading costs Charter Equivalent (TCE) assessment. Platts has included port
Timing: Assessments reflect Panamax and Supramax vessels borne by the charterer in $/mt) & Out ($/mt) basis to South charges, vessel speed and fuel consumption. After a robust
chartered for loading 10 to 20 days forward from the date of China (Fangcheng). To India, Platts freight assessments are survey of market participants, Platts has arrived at these values
publication. Capesize assessments reflect vessels chartered 20 basis Mundra in West Coast India and basis Krishnapatnam, that reflect standard market practice. The bunkering port
to 35 days forward. For example, on July 1, Platts assesses rates Paradip in East Coast India. They are based on a Free In & Out to considered is Shanghai.
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 24
Specifications guide Freight: August 2019
Metallurgical coal, petcoke and scrap loading 14-45 days forward from the date of assessment.
Platts metallurgical coal Panamax assessments reflect gearless In addition to its daily assessments, Platts assesses a weekly
vessels; spot prices for geared vessels may be normalized for spot market freight rate for the chartering of Panamax dry bulk
assessment purposes. vessels for metallurgical coal. The assessment reflects FOB
cargoes loading from Vancouver on the west coast of Canada
Timing: Assessments for Australia to China reflect vessels to Vizag on the east coast of India. The assessment reflects the
chartered for loading seven to 45 days forward from the date of value that prevails at the Asian market close of 17:30 Singapore
assessment. For example, on July 1, Platts assesses rates for time every Friday. Price assessments for Canada to India
vessel loadings between July 8 and August 15. Assessments reflect vessels for loading 15-45 days forward from the date of
for US to ARA/Brazil/China/India reflect vessels chartered for assessment.
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Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
LIMESTONE
Assessment CODE Mavg Cargo Size CURRENCY UOM
DBF Limestone Mina Saqr UAE-Paradip EC India 50kt $/mt Supramax MLSAA00 MLSAA03 50kt US dollars mt
Limestone Loading Salalah Oman Diff vs Mina Saqr-Paradip 50 kt $/mt Supramax MLSAB00 MLSAB03 50kt US dollars mt
Limestone Discharge Chennai EC India Diff vs Mina Saqr-Paradip 50 kt $/mt Supramax MLSAC00 MLSAC03 50kt US dollars mt
Limestone
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 28
Specifications guide Freight: August 2019
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Specifications guide Freight: August 2019
Dry bulk Time Charter Equivalents (TCEs) The TCE is calculated using bunker prices published by Platts. reflect market practice. All assessments are basis loading and
The Durban and Rotterdam bunker prices, which are assessed discharge on Sundays and holidays include per weather working
Platts also publishes daily spot market Time Charter Equivalent out of London, are normalized to the Singapore close for use in day at both ends; sea margin of 5% and total commission at 5%.
assessments for dry bulk vessels. Each TCE assessment for the respective Asian TCE assessments.
Supramax, Ultramax, Panamax and Capesize vessels reflects the
$/day pricing derived from the respective voyage rates published The port charges, vessel speed and consumption used in the
by Platts on a $/mt basis. TCE calculation are arrived at by extensive market survey and
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 30
Specifications guide Freight: August 2019
BOX RATES
Assessment CODE Mavg Cargo Size CURRENCY UOM
Head-haul
Head-haul
PCR1 North Asia – North Continent PCR0100 PCR0103 FEU US Dollars mt
PCR3 North Asia – Mediterranean PCR0300 PCR0303 FEU US Dollars mt
PCR5 North Asia – East Coast North America PCR0500 PCR0503 FEU US Dollars mt
PCR9 North Continent – East Coast North America PCR0900 PCR0903 FEU US Dollars mt
PCR11 North Asia - UK PCR1100 PCR1103 FEU US Dollars mt
PCR13 North Asia - West Coast North America PCR1300 PCR1303 FEU US Dollars mt
Back-haul
PCR2 North Continent – North Asia PCR0200 PCR0203 FEU US Dollars mt
PCR4 Mediterranean – North Asia PCR0400 PCR0403 FEU US Dollars mt
PCR6 East Coast North America – North Asia PCR0600 PCR0603 FEU US Dollars mt
PCR10 East Coast North America – North Continent PCR1000 PCR1003 FEU US Dollars mt
PCR12 UK - North Asia PCR1200 PCR1203 FEU US Dollars mt
PCR14 West Coast North America - North Asia PCR1400 PCR1403 FEU US Dollars mt
Platts Container Index (weighted average of above routes) PCTI00 PCTI03 FEU US Dollars mt
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 31
Specifications guide Freight: August 2019
Box rates PLATTS CONTAINER INDEX transporting a forty-foot container and are expressed in $/FEU.
Route Weighted value These assessments are calculated using $/mt bunker prices in
Container vessels are defined as those that carry their load in North Asia - North Continent 10.43% representative ports, published by Platts, as follows:
North Asia - UK 10.43%
standardized intermodal containers, typically 20-foot or 40-foot
North Asia - ECNA 8.87%
equivalent (FEU) containers. Container vessel sizes are also North Asia - WCNA 8.20% IFO380
measured in TEUs. North Asia - Med 6.87%
North Continent - ECNA 3.95% PCR1 and PCR2: Singapore, Gibraltar, Colombo and Rotterdam
Platts box rate assessments reflect the transactable value for WCNA - North Asia 11.32%
carrying 40-ft equivalent (FEU) containers at 16:30 London time. North Continent - North Asia 10.00% PCR5 and PCR6: New York, Savannah, Charleston, Norfolk,
UK - North Asia 10.00% Busan, Hong Kong, Tokyo and Vladivostok
ECNA - North Asia 8.03%
Location: Platts assesses a number of key shipping regions
Med-North Asia 7.66%
under broad geographic descriptions. ECNA - North Continent 4.23% PCR13 and PCR14: Los Angeles, Seattle, Busan, Hong Kong,
Total 100.00% Tokyo and Vladivostok
North Continent: Bilbao to Hamburg
LSMGO
Mediterranean: All ports from Gibraltar to Istanbul publishes the Platts Container Index assessment, which is
based on a weighted average of the assessed routes. The PCR1 and PCR2: Singapore, Gibraltar and Rotterdam
East Coast North America: Atlantic Coast including Canada percentages have been derived from Platts Cflow data. The raw
data captured uses AIS to track ship movements from region to PCR5 and PCR6: New York, Savannah, Charleston, Norfolk,
West Coast North America: Pacific Coast including Canada region. The percentage breakdown is as follows: Busan and Hong Kong
Timing: Assessments reflect spot market container prices for Canals: Assessments for voyages which involve a canal transit, PCR13 and PCR14: Los Angeles, Seattle, Busan and Hong Kong
loading five to 25 days forward from the date of assessment. including the Suez Canal and the Panama Canal, are inclusive of
any canal fees. The bunker charge round voyage percentage weighting
Platts assesses daily spot market $/FEU rates for carrying allocation, vessel speed and consumption used in the bunker
an FEU container on several routes. In addition, Platts also Platts bunker charge assessments reflect the bunker costs for charge calculations are arrived at by extensive market survey
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 32
Specifications guide Freight: August 2019
and reflect market practice. All assessments include a sea PCR13 and PCR14: 18 knots normal and 15 knots slow-steaming Panama Canal Northbound Transit: 1.0 day
margin of 5%. The voyage durations are arrived at by extensive
market survey and are basis vessels proceeding on a round The container vessel sizes used in the assessments are: Panama Canal Southbound Transit: 1.0 day
voyage to ports in geographical rotation within the below ranges:
PCR1 and PCR2: 18,000 TEU Suez Canal Northbound Transit: 1.0 day
PCR1 and PCR2: Tokyo, Nagoya, Kobe, Busan, Xingang, Qingdao,
Shanghai, Ningbo, Keelung, Xiamen, Hong Kong/Yantian, PCR5 and PCR6: 9,000 TEU Suez Canal Southbound Transit: 1.0 day
Kaoshiung, Cai Mep, Singapore, Colombo, Le Havre, Antwerp,
Rotterdam, Hamburg. PCR13 and PCR14: 10,000 TEU The container volume split allocation used in the assessments
are:
PCR5 and PCR6: Kaoshiung, Hong Kong/Yantian, Xiamen, The container vessel bunker consumption used in the
Keelung, Ningbo, Shanghai, Qingdao, Xingang, Busan, Kobe, assessments, basis metric tons are: PCR1 and PCR2: 65% and 35%
Nagoya, Tokyo, Long Beach/Los Angeles, Jacksonville, Savannah,
Charleston, Norfolk, New York, Boston. PCR1 and PCR2: 124/mt per day at normal speed; 92/mt slow- PCR5 and PCR6: 70% and 30%
steaming
PCR13 and PCR14: Kaoshiung, Hong Kong/Yantian-Xiamen, PCR13 and PCR14: 70% and 30%
Keelung, Ningbo, Shanghai, Qingdao, Xingang, Busan, Kobe, PCR5 and PCR6: 108/mt per day at normal speed; 72/mt per day
Nagoya, Tokyo, Vancouver, Oakland, Long Beach/Los Angeles. slow-steaming The above variables used in calculating bunker charge
assessments are regularly updated to reflect market practice
The container vessel speeds used in the assessments are: PCR13 and PCR14: 112/mt per day at normal speed and 76/mt and new regulations.
per day slow-steaming
PCR1 and PCR2: 17 knots normal, 15 knots slow-steaming The Platts Bunker Excluded (PBX) container spot rate
The canal transit allocations, in days, used in the assessments assessments are calculated by deducting the daily values
PCR5 and PCR6: 18 knots normal and 15 knots slow-steaming are: of bunker charge assessments from the container rate
assessments for the above routes and are also on a $/FEU basis.
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 33
Specifications guide Freight: August 2019
Petrochemical freight
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 34
Specifications guide Freight: August 2019
Liquid chemicals
Assessment CODE Mavg Cargo Size CURRENCY UOM
Asia
From India
India-East China 3 kt (Friday) AAVCX00 AAVCX03 3kt US dollars mt
India-East China 5-7 kt (Friday) AAVCZ00 AAVCZ03 5-7kt US dollars mt
India-Indonesia 5-7 kt (Friday) AAVCY00 AAVCY03 5-7kt US dollars mt
India-Middle East 5-7 kt (Friday) AAVDB00 AAVDB03 5-7kt US dollars mt
India-Pakistan 5-7 kt (Friday) AAVDA00 AAVDA03 5-7kt US dollars mt
PX India-East China (Friday) PXAEC00 PXAEC03 10kt US dollars mt
PX India-South China/Taiwan (Friday) PXASC00 PXASC03 10kt US dollars mt
From/to Korea/USGC
Korea-East China 2-3 kt (daily) AAVBV00 AAVBV03 2-3kt US dollars mt
Korea-East China 5 kt (daily) AAVCA00 AAVCA03 5kt US dollars mt
Korea-India 2-3 kt (daily) AAVBX00 AAVBX03 2-3kt US dollars mt
Korea-South China 5 kt (daily) AAVCB00 AAVCB03 5kt US dollars mt
Korea-Taiwan 2-3 kt (daily) AAVBU00 AAVBU03 2-3kt US dollars mt
Korea-Taiwan 5 kt (daily) AAVBZ00 AAVBZ03 5kt US dollars mt
Korea-USG 10-12 kt (daily) AAVBY00 AAVBY03 10-12kt US dollars mt
USG-East China 10-12 kt (daily) AAVCE00 AAVCE03 10-12kt US dollars mt
USG-Korea 10-12 kt (daily) AAVCC00 AAVCC03 10-12kt US dollars mt
USG-Taiwan 10-12 kt (daily) AAVCD00 AAVCD03 10-12kt US dollars mt
Intra NE Asia 5 kt (Friday) AARJR00 AARJR03 5kt US dollars mt
Korea-East China 2-3 kt (Friday) AARJU00 AARJU03 2-3kt US dollars mt
Korea-Taiwan 2-3 kt (Friday) AARJV00 AARJV03 2-3kt US dollars mt
Korea-USG 5 kt (Friday) AARJS00 AARJS03 5kt US dollars mt
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 35
Specifications guide Freight: August 2019
Liquid chemicals
Assessment CODE Mavg Cargo Size CURRENCY UOM
Europe
Rotterdam-USG 1-2 kt Weekly AARIZ00 AARIZ03 1-2kt US dollars mt
Rotterdam-FE Asia 1-2 kt Weekly AARJB00 AARJB03 1-2kt US dollars mt
Rotterdam-SE Asia 1-2 kt Weekly AARJD00 AARJD03 1-2kt US dollars mt
Rotterdam-Med 1-2 kt Weekly AARJF00 AARJF03 1-2kt US dollars mt
Rotterdam-USG 5 kt Weekly AARJA00 AARJA03 5kt US dollars mt
Rotterdam-FE Asia 5 kt Weekly AARJC00 AARJC03 5kt US dollars mt
Rotterdam-SE Asia 5 kt Weekly AARJE00 AARJE03 5kt US dollars mt
Rotterdam-Med 5 kt Weekly AARJG00 AARJG03 5kt US dollars mt
Americas
USGC-Far East Asia 1-2kt (weekly) AARJH00 AARJH03 1-2kt US dollars mt
USGC-Southeast Asia 1-2kt (weekly) AARJJ00 AARJJ03 1-2kt US dollars mt
USGC-Europe 1-2kt (weekly) AARJL00 AARJL03 1-2kt US dollars mt
USGC-Mexico 1-2kt (weekly) AARJN00 AARJN03 1-2kt US dollars mt
USGC-Far East Asia 5kt (weekly) AARJI00 AARJI03 5kt US dollars mt
USGC-Southeast Asia 5kt (weekly) AARJK00 AARJK03 5kt US dollars mt
USGC-Europe 5kt (weekly) AARJM00 AARJM03 5kt US dollars mt
USGC-Mexico 5kt (weekly) AARJO00 AARJO03 5kt US dollars mt
Liquid chemicals
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 36
Specifications guide Freight: August 2019
Gas chemicals
Assessment CODE Mavg Cargo Size CURRENCY UOM
Asia
Ethylene (pressurized)
Korea-Taiwan/China 2-4 kt Weekly AAXOQ00 2-4kt US dollars mt
Middle East-SE Asia 5 kt Weekly AAXOR00 5kt US dollars mt
Thailand-Indonesia/SE Asia 5 kt Weekly AAXOS00 5kt US dollars mt
Propylene/Butadiene (pressurized)
Korea-Taiwan/China 1.5 kt Weekly AAXOV00 1.5kt US dollars mt
Korea-SE Asia 1.5 kt Weekly AAXOX00 1.5kt US dollars mt
Intra ASEAN 1.5 kt Weekly AAXOZ00 1.5kt US dollars mt
Europe
Europe-Asia AAXOO00 - 5kt US dollars mt
Europe-Asia AAXPC00 - 5-10kt US dollars mt
Europe-Turkey/Med AAXOT00 - 5kt US dollars mt
Europe-USA 5-10 kt Weekly AAXPA00 - 5-10kt US dollars mt
Americas
Ethylene (refrigerated/pressurized)
US-Europe 5kt weekly AAXOG00 - 5kt US dollars mt
US-Venezuela 5kt weekly AAXON00 - 5kt US dollars mt
US-Mexico 5kt weekly AAXOP00 - 5kt US dollars mt
Latin America-Asia 5kt weekly AAXOM00 - 5kt US dollars mt
Latin America-Europe 5kt weekly AAXOH00 - 5kt US dollars mt
Propylene/Butadiene (refrigerated)
US-Southeast Asia 5-10kt weekly AAXOU00 - 5-10kt US dollars mt
US-North Asia 5-10kt weekly AAXOW00 - 5-10kt US dollars mt
US-Europe 5-10kt weekly AAXOY00 - 5-10kt US dollars mt
VCM (pressurized)
US-Asia 1.5kt weekly AAXPE00 - 1.5kt US dollars mt
Gas chemicals
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 37
Specifications guide Freight: August 2019
POLYMERS
Assessment CODE Mavg Wavg Cargo Size Laycans CURRENCY UOM
Middle East-East China >100 kt Weekly AAPSM00 >100kt 15-30 days US dollars mt
Middle East-East China 25-100 kt Weekly AAPRT00 AAPRT03 25-100kt 15-30 days US dollars mt
Middle East-India >100 kt Weekly AAPSO00 >100kt 15-30 days US dollars mt
Middle East-India 25-100 kt Weekly AAPRV00 AAPRV03 25-100kt 15-30 days US dollars mt
Middle East-SE Asia >100 kt Weekly AAPSP00 >100kt 15-30 days US dollars mt
Middle East-SE Asia 25-100 kt Weekly AAPRW00 AAPRW03 25-100kt 15-30 days US dollars mt
Middle East-South China >100 kt Weekly AAPSN00 >100kt 15-30 days US dollars mt
Middle East-South China 25-100 kt Weekly AAPRU00 AAPRU03 25-100kt 15-30 days US dollars mt
Middle East-Latin America >100 kt Weekly AAPSX00 >100kt 15-30 days US dollars mt
Middle East-Latin America 25-100 kt Weekly AAPSL00 25-100kt 15-30 days US dollars mt
Middle East-NW Europe >100 kt Weekly AAPSQ00 >100kt 15-30 days US dollars mt
Middle East-NW Europe 25-100 kt Weekly AAPRX00 25-100kt 15-30 days US dollars mt
Middle East-Turkey >100 kt Weekly AAPSR00 >100kt 15-30 days US dollars mt
Middle East-Turkey 25-100 kt Weekly AAPRY00 25-100kt 15-30 days US dollars mt
Middle East-US Gulf >100 kt Weekly AAPSS00 >100kt 15-30 days US dollars mt
Middle East-USG 25-100 kt Weekly AAPSK00 25-100kt 15-30 days US dollars mt
Polymers Middle East: Jebel Ali (Dubai), Khalifa (Abu Dhabi), Jubail and Southeast Asia: Jakarta and Surabaya (Indonesia), Singapore,
Rabigh (Saudi Arabia), Shuaiba (Kuwait), Mesaieed (Qatar), Manila Bay (Philippines), Port Kelang (Malaysia), Bangkok
Platts assesses spot market freight rates for the transportation Assaluyeh and Bandar Imam Khomeini (Iran) (Thailand), Ho Chi Minh (Vietnam)
of polyethylenes and polyvinylchloride on standardized
intermodal containers. The assessments reflect 20-foot (25-100 East China: Zhangjiagang, Shanghai, Jiangyin, Nantong, Ningbo, North West Europe: Basis Antwerp port, deliveries to Rotterdam
mt cargoes) or 40-foot (more than 100 mt cargoes) equivalent Nanjing and Zhenjiang and Amsterdam will be normalized to the Antwerp port basis.
containers. The assessments are published in US dollars/mt
South China: Shenzhen, Shantou, Hong Kong, Xiamen and Turkey: Istanbul and Mersin
Location: Platts assesses a number of key shipping regions Zhuhai
under broad geographic descriptions. A list of those descriptions US Gulf: Houston
and the markets they represent, are as follows: India: Kolkata, Mumbai and Chennai
Latin America: Main ports in Brazil, Chile, Uruguay
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 38
Specifications guide Freight: August 2019
Revision history November 2018: Platts completed an annual review of the global to Ciwandan, Indonesia 25kt route have been changed from
Freight methodology and specifications guide. Platts reviewed 3,000/3,000 mt/day to 6,000/6000 mt/day. Platts also updated
August 2019: Platts completed an annual review of the global all content, corrected typos and made minor edits to language. this guide to include the newly launched container bunker
freight specifications guide. Platts reviewed all content, Platts also added a new section I to VI, and incorporated all charge assessments and bunker excluded container spot rate
corrected typos and made minor edits to language. In this of the petrochemical freight assessment methodology into assessments for North Continent-EC North America and EC
update, all of the LPG freight methodology globally was this guide from the regional petrochemical guides. Platts North America-North Continent.
incorporated into this guide, from the regional oil specification also incorporated its chemical tanker freight assessment
guides. The Asia petrochemical freight section was updated to methodology into this guide. This guide was also updated to May 2018: Platts updated this guide to include the newly
reflect changes to the frequency of assessments for several reflect the newly launched 260 kt Brazil/Uruguay-China dirty launched container bunker charge assessments and bunker
routes, addition of new aromatics freight routes and the oil tanker assessment and the newly launched 100kt Russia- excluded container spot rate assessments. Platts also changed
discontinuation of a few routes. The dry bulk TCEs table was North China dirty oil tanker assessment. Platts also updated references in the container freight assessment descriptions
updated to include the new Capesize Hay Point-Rotterdam this guide to include the newly launched Panamax 75kt dry bulk from ‘UK Continent’ to ‘North Continent’, and removed references
backhaul TCE daily assessment that was launched on May steam coal EC Australia-Japan implied freight assessment, to the discontinued UK Continent-Mediterranean and
2, 2019, as well as the new Supramax Santos-Qingdao and the newly launched 30kt UKC-UKC clean tanker assessment Mediterranean-UK Continent container freight assessments.
Supramax Yuzhny-Cigading daily TCE assessments launched and the newly launched WC Canada-N China Panamax 75kt dry Platts updated this guide with a change to the description of the
on July 1, 2019. The turn-time at Load/Discharge Port for bulk TCE assessment. References to the following discontinued US-Turkey Supramax petcoke dry bulk freight rate assessment
Supramax New Orleans-Kashima TCE assessments was dry bulk freight assessments have been removed: Panamax from Houston-Aliaga to New Orleans-Iskenderun. Platts also
corrected to 30/60 hours, while the assessment description NE Australia-UAE; Supramax S Africa-Mundra, WC India along changed the cargo size for its New Orleans-Qingdao and New
of Panamax Hampton Roads Virginia-Rotterdam TCE was with the following differentials: from basis Mundra to Dahej, Orleans-Fangcheng dry bulk grain freight assessments from
corrected to DOP Gibraltar. The thermal coal table was WC India; from basis Mundra to Kandla, WC India; from basis 60kt to 66kt.
updated to reflect the replacement of Karachi port with Port Krishnapatnam to Paradip, EC India; from basis Krishnapatnam
Qasim as the discharge port for the Richards Bay, South to Ennore, EC India; from basis Krishnapatnam to Paradip, April 2018: Platts updated this guide to include polyvinylchloride
Africa, to Pakistan 50,000 mt Supramax thermal coal freight EC India; and from basis Krishnapatnam to Ennore, EC India. in the Polymers and liquid chemicals assessments and corrects
assessment, effective August 1, 2018. Additionally, the Iron ore, References to the discontinued Supramax Indonesia-Mundra, the spelling of Malaysian port Klang from Kelang.
Thermal coal, Metallurgical coal, petcoke and scrap, Alumina WC India dry bulk freight assessment were also removed, along
and bauxite, and Sugar and grains tables were updated to with the following differentials: from basis Mundra to Dahej, WC April 2018: Platts updated this guide with a change in cargo size
reflect the ten dry freight Panamax routes discontinued on July India; and from basis Mundra to Kandla, WC India. Platts also for the Suezmax dirty tanker Persian Gulf-USGC, Persian Gulf-
1, 2019. The West of Suez Tankers – Americas (Dirty) table was updated this guide with changes to some basis ports for dry UKC and Persian Gulf-Mediterranean assessments from 130kt
updated to include the new Worldscale 145kt Suezmax USGC- bulk freight assessments. The differential for 55kt S Africa-WC to 140kt. Platts also updated this guide to include the newly
UK Continent/Mediterranean and Lumpsum USGC Aframax India has changed from basis Mundra to New Mangalore, WC launched 35kt Singapore-Australia clean tanker assessment.
Lightering assessments that were launched April 1 and June India to a differential from basis Kandla to New Mangalore, WC Platts also removed references to the discontinued dry bulk 50kt
3, respectively. In April, Platts completed an annual update India. The differential for 55kt Indonesia-WC India has changed USGC-Egypt grains freight assessment.
to sections 1 to 6 of Platts Methodology and Specifications from basis Mundra to New Mangalore, WC India to a differential
guides, and moved these sections into a standalone Platts from basis Navlakhi to New Mangalore, WC India. Platts also March 2018: Platts updated this guide to include seven newly
Methodology Guide. updated this guide with changes to the load and discharge rates launched dry bulk time charter equivalent assessments: 70kt
in its dry bulk sugar freight assessments. The load/discharge USEC-Rotterdam; 60kt Brazil-China (delivery Gibraltar); 60kt
March 2019: Platts updated this guide to include two newly rates on the Santos SE Brazil-Rizhao, N China 50kt route have Brazil-China (delivery Singapore); 50kt USGC-Japan (delivery
launched dry bulk grains freight assessments: 50kt Ukraine- been changed from 8,000/3,000 mt/day to 10,000/7,000 mt/ Southwest Pass); 50kt USGC-Japan (delivery Gibraltar); 50kt
Indonesia and 50kt Brazil to north China. day. The load/discharge rates on the Laem Chabang, Thailand, USGC-EC India (delivery Southwest Pass); and USGC-EC India
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 39
Specifications guide Freight: August 2019
(delivery Gibraltar). Platts also updated this guide to include four and bulk 40kt Thailand-South Korea. port costs used in calculating dry bulk time charter equivalent
newly launched dirty tanker assessments: 270kt USGC-China; assessments. Platts has also updated the fixing windows for the
270kt USGC-Singapore; 70kt USGC-UK Continent; and 70kt October 2017: Platts updated this guide with a change in cargo East of Suez, EMEA and Americas tanker markets following an
USGC-Mediterranean. size for two dry bulk Supramax steel scrap freight assessments, extensive consultation with market participants.
from New Jersey to Aliaga, Turkey and from Rotterdam to Aliaga,
February 2018: Platts updated this guide with a change in cargo from 45,000 mt to 40,000 mt (plus/minus 10%). January 2017: Platts updated this guide to include the following
size for the Long Range 1 clean tanker US Gulf Coast-Japan/ newly launched dry bulk time charter equivalent assessments:
South Korea assessment from 55,000 mt to 60,000 mt. September 2017: Platts updated this guide to include the newly 170kt Western Australia-China, 170kt South Africa-China,
launched 35kt clean tanker South Korea-Australia assessment. 170kt Brazil-China Pacific Round Voyage, 170kt Brazil-China
January 2018: Platts updated this guide to include four newly Platts also removed references to the discontinued dry bulk 40kt fronthaul, 150kt Colombia-Rotterdam, 75kt Indonesia-EC India,
launched 55kt Ultramax dry bulk time charter equivalent Handymax iron ore freight assessments for West Coast India- 75kt Indonesia-WC India, 75kt South Africa-EC India, 75kt South
assessments into India: Indonesia-Paradip; Indonesia-Navlakhi; North China and East Coast India-North China. Africa-WC India, 75kt Eastern Australia-EC India, 75kt Eastern
South Africa-Paradip; and South Africa-Kandla. Platts also Australia-China, 50kt Indonesia-EC India, 50kt Indonesia-
updated this guide with changes to Supramax dry bulk thermal July 2017: Annual review: Platts completed an annual update WC India, 50kt South Africa-EC India, 50kt South Africa-WC
coal cargo sizes into India to 55kt. to the Global Freight Methodology Guide in July 2017. In this India, 50kt UAE-EC India. Platts also removed references to
update, Platts reviewed all content and updated some language the discontinued dirty tanker 100kt Baltic-UK Continent ice
December 2017: Platts updated this guide to include three for clarity. premium assessment. Platts also changed the name of its
newly launched dry bulk freight assessments: 55kt South Africa- dirty tanker 270kt UK Continent-Singapore assessment to
WC India thermal coal; 50kt South Africa-Pakistan thermal coal; July 2017: Platts updated this guide to include descriptions ‘Rotterdam-Singapore’.
85kt Australia-China metallurgical coal. Platts also updated this and details of the newly launched FEU container freight
guide with a change to the description and cargo size for the rate assessments for North Asia-UK Continent, North Asia- November 2016: Platts updated this guide to include the
Thailand to Indonesia dry bulk sugar freight assessment from a Mediterranean, North Asia-EC North America, UKC-Med, UKC- following newly launched dry bulk Panamax bauxite freight
40,000 mt Handymax stem to a 25,000 mt Handysize stem, and ECNA, UKC-North Asia, Med-North Asia, ECNA-North Asia, assessments: 60kt West Africa-North China and 60kt Brazil-
a change to the description and cargo size for the Rotterdam Med-UKC, ECNA-UKC and the Platts Container Index. Platts North China. Platts also updated this guide with a change to the
to Turkey dry bulk scrap freight assessment from a 25,000 mt also amended the delivery basis for the Supramax TCE East cargo size for dry bulk Capesize thermal coal freight from 150kt
Handysize stem to a 30,000 mt Supramax stem. Platts also Kalimantan to Guangzhou assessment from Singapore to South to 130kt.
updated this guide to include the newly launched container China, and amended the bunkering port for this assessment
freight assessments for North Asia-UK, North Asia-WC North from Singapore to Hong Kong, following a period of industry September 2016: Platts updated this guide to include the
America, UK-North Asia and WC North America-North Asia. consultation and feedback. following newly launched dirty tankers assessments: 270kt
Platts also amended the descriptions for two existing container Hound Point-Far East, 260kt West Africa-West Coast India,
freight assessments, from North Asia to UK Continent to North April 2017: Platts updated this guide to include the newly launched 260kt West Africa-East Coast India, 130kt West Africa-South
Asia to North Continent and from UK Continent to North Asia to 70kt dirty tanker USGC-EC Canada assessment. Platts also Africa. Platts also added the following newly launched dry bulk
North Continent to North Asia. updated the guide with the newly launched dry bulk $/mt and time Supramax thermal coal freight assessments: 50kt South Africa-
charter equivalent (TCE) freight assessments for 65kt and 50kt WC India; 50kt South Africa-EC India; 50kt South Kalimantan,
November 2017: Platts updated this guide to remove references thermal coal Indonesia-China. Vessel deadweight specifications for Indonesia-WC India; 50kt South Kalimantan, Indonesia-EC India;
to the following discontinued sugar freight assessments: bagged the TCE assessments were also added to the guide. differential from basis South Kalimantan to East Kalimantan.
20kt Thailand-Kenya, bagged 20kt Southeast Brazil-Ghana, bulk Platts also removed references to the following discontinued
20kt Southeast Brazil-Russia, bulk 20kt Guatemala-China, bulk February 2017: Platts updated this guide to include details dry bulk freight assessments: thermal coal 150kt Newcastle-
50kt Southeast Brazil-UAE, bulk 20kt Guatemala-South Korea of bunker and marine gasoil consumption, vessel speeds and Rotterdam and Gladstone-Rotterdam; thermal coal 75kt
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 40
Specifications guide Freight: August 2019
Gladstone-Rotterdam, Gladstone-Iskenderun and Newcastle- Caribbean-China and USGC-Singapore; 140 kt Caribbean- 30kt tankers UKC-South America, clean 60kt tankers UKC-UKC,
Rotterdam; metallurgical coal 70kt Roberts Bank-Rotterdam and Caribbean; 130kt Caribbean-China and USGC-Singapore; 90kt clean 60kt tankers UKC-Med, clean 30kt tankers Med-South
Hampton Roads-Qingdao. Caribbean-UKC and Caribbean-Med; 70 kt Caribbean-UKC, America, clean 30kt tankers Black Sea-South America, and
Caribbean-Med, EC Mexico-UKC, EC Mexico-Med and EC clean 38kt tankers Caribbean-South America.
August 2016: Annual review: Platts completed an annual update Mexico-USGC; and 50kt EC Mexico-USGC.
to the Global Freight Methodology Guide in July 2016. In this March 2015: Platts updated this guide with changes to some dry
update, Platts reviewed all content and updated some language October 2015: Platts updated this guide to include newly bulk freight rate assessment cargo sizes, including Panamax iron
for clarity. launched 35kt clean tanker assessments for Arab Gulf-South ore WC India-Qingdao; Panamax coal Australia-Turkey, Australia-
Africa and West Coast India-South Africa, as well as newly Rotterdam, Australia-China, Australia-India, Indonesia-India,
June 2016: Platts updated this guide to include the following launched 40kt clean tanker assessments for Baltic-UKC. South Africa-India, Canada-Japan, Canada-Rotterdam and
newly launched freight assessments: clean 38kt and 55kt Canada-China; Capesize iron ore Australia-China, South Africa-
tankers USGC-NE Asia; 75kt metallurgical coal dry bulk WC September 2015: Platts updated this guide to include newly China and Capesize coal US-China. The assessment tables were
Canada-EC India; and 50kt limestone dry bulk Persian Gulf- launched 38kt clean tanker assessments for USGC-EC Mexico, also updated with other, previously omitted cargo sizes and
India. USGC-Chile, USGC-Peru, USGC-Ecuador, USGC-Caribbean and symbols for monthly averages.
EC Canada-USAC.
April 2016: Platts updated this guide to include the following March 2015: Platts updated this guide by clarifying the
newly launched freight assessments: 4kt fuel oil barges August 2015: Platts completed an annual update to the Global normalization of the value of spot fixtures in the clean and dirty
Rotterdam-Rotterdam, 4kt fuel oil barges Rotterdam-Antwerp Freight Methodology Guide in August 2015. In this update, Platts tanker markets which are used in its assessments, when those
and 160kt metallurgical coal dry bulk East Australia-Rotterdam. reviewed all content, including adding further detail on shipping spot fixtures include ECA (Emission Control Area) charges based
regions. on the use of 0.1% sulfur fuels in the Baltic and North Sea.
February 2016: Platts updated this guide to include the
following newly launched freight assessments: 59kt bauxite dry June 2015: Platts updated this guide with a change to the February 2015: This methodology guide was updated to include
bulk Guinea-Spain, clean 80kt tankers Med-Japan and clean description for West of Suez clean demurrage from ‘Clean further description of Platts’ processes and practices in survey
80kt tankers Med-South Korea. Platts also removed references Demurrage FOB Europe MR’ to ‘Clean MR Demurrage UK assessment environments.
to the following discontinued assessments: dirty 260kt tankers Continent - US Atlantic Coast’. The description of the ice
Med-USAC, dirty 260kt tankers Med-USGC, dirty 260kt tankers premium for dirty Aframax vessels West of Suez has also been February 2015: Platts updated this guide by changing the size of
Med-EC Canada, dirty 270kt tankers UKC-USAC, dirty 270kt changed, from ‘Primorsk-UKC’ to ‘Baltic-UKC’. clean tanker assessments for Mediterranean-US Atlantic Coast
tankers UKC-USGC, and dirty 270kt tankers UKC-EC Canada. and Mediterranean-US Gulf Coast from 33kt to 37kt.
Platts also updated this guide to include a clarification of June 2015: Platts updated this guide to include new petcoke
its Dirty Demurrage FOB Singapore assessment. Platts also dry bulk assessments for US Gulf Coast-EC India and US Gulf November 2014: Platts updated this guide by changing
updated its explanation of the treatment of the value of spot Coast-N China. the timing of sugar freight assessments from 1630 to 1730
fixtures in the clean and dirty tanker markets which are used in Singapore time, to bring these in line with the other dry bulk
its assessments, when those spot fixtures include ECA (Emission May 2015: Platts updated this guide to reflect the change in assessments. Platts also made minor updates to descriptions
Control Area) charges based on the use of 0.1% sulfur fuels in the Market on Close assessment timing for the West of Suez in Sections One through Six to include references to metals
the Baltic and North Sea, with the previous normalization no (Americas) clean and dirty tanker assessments to 2:15 pm and other dry bulk materials. Platts added new clean tanker
longer required. Houston time from 4:30 pm London time effective May 15, 2015. assessments for US Gulf Coast-North Brazil; US Gulf Coast-UK
Continent and US Gulf Coast-Mediterranean. Platts also added
November 2015: Platts updated this guide to include the April 2015: Platts updated this guide with the removal of details for new petcoke, scrap and grain cargo assessments.
following newly launched dirty tanker assessments: 150kt references to the following discontinued assessments: clean This update reflects the discontinuation of six sugar freight
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 41
Specifications guide Freight: August 2019
assessments, and updates Unit of Measurement references Bunbury/Kwinana-Lianyungang 30kt $/mt Handysize. replacement vessel data, and noted costs typically included in
to reflect “mt” in data tables. Platts added further descriptions lump-sum fixtures. Platts also added new assessments: clean
of cargo sizes to data tables and amended references to US June 2014: Platts completed an annual update to the Global 30kt tankers Baltic-UKC, clean 60kt tankers UKC-West Coast
dollars to become Euros in code tables where assessments are Freight Methodology Guide in June 2014. In this update, Platts Africa, dirty 140kt tankers Black Sea-Med, dirty 270kt tankers
published in Euros. reviewed all content. In this edition, Platts consolidated all dry Caribbean-China, dirty 270kt tankers Caribbean-Singapore,
bulk freight assessment methodology into this document, and and dirty 270kt tankers Caribbean-West Coast India. Platts also
August 2014: Platts updated this guide to include newly added certain freight-related guidance to sections covering MOC removed a reference to a discontinued assessment, dirty 70kt
launched assessments for clean tankers USGC-Argentina and Data Publishing Principles. As part of this consolidation, Platts tankers LatAm-USAC.
USGC-Brazil; newly launched assessments for dirty tankers moved definitions for tanker routes to Part VII. Platts made
East Coast India-Singapore, Singapore-Chittagong Bangladesh minor edits throughout. August 2013: Platts revamped all Oil Methodology And
and Singapore-Japan 40kt; Platts also removed references to Specifications Guides, including its Freight guide, in August
China fuel oil taxes and fees, and dirty tanker assessments for November 2013: Platts updated this guide, making minor 2013. This revamp was completed to enhance the clarity and
deliveries to Guangzhou and Shanghai (these China-related edits through the text, and noting that World Scale-related usefulness of all guides, and to introduce greater consistency of
assessments were discontinued after December 2013); Platts assessments are published to within a quarter of a point. In this layout and structure across all published methodology guides.
also removed references to Australia-Jebel Ali and Australia- update, Platts added definitions for its Intermediate and Handy- Methodologies for market coverage were not changed through
Lianyungang bauxite freight assessments, which have not size/MR assessments, added a table noting the sizes of its this revamp, unless specifically noted in the methodology guide
been launched, and amended the code reference for Alumina fuel oil-only assessed routes, clarified typical usage of prompt itself.
© 2019 S&P Global Platts, a division of S&P Global Inc. All rights reserved. 42