The deal was announced this week. File Image / Pixabay
The $44 billion merger deal between S&P Global and IHS Markit announced this week may give price reporting agency Platts the opportunity to expand more into shipping.
The two financial data firms announced on Monday that they had agreed to a merger valuing IHS at $44 billion. The deal is expected to close in the second half of next year.
Platts is currently most familiar to the shipping industry for its bunker price assessments, as well as cargo assessments for some of the commodities the industry carries.
The price reporting agency also has a significant presence in freight rate pricing, in particular for the dry bulk segment, but the merger may help broaden the company's involvement with the shipping industry.
The IHS presence in container shipping is likely to be of most use. In recent years Platts has started to assess spot container freight rates, and cooperation with IHS's more established container market team, as well as further collaboration at the TPM Conference organised by IHS unit JOC, would help those assessments to be used more widely in the industry.