55 East 52nd Street

New York, New York 10055

BY ELECTRONIC TRANSMISSION

Submission No. 23-128

September 18, 2023

Mr. Christopher J. Kirkpatrick

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Weekly Notification of Rule Amendments

Submission Pursuant to Section 5c(c)(1) of the Act and Regulation 40.6 (d) 

Dear Mr. Kirkpatrick:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended, and 

Commission Regulation 40.6(d), ICE Futures U.S., Inc. (“Exchange”) submits notification to the 

Commission that the, during the prior week, Exchange updated the stevedore rate (“Rate”) for the 

discharge of sugar delivered against the Sugar No. 16 futures contract. The Rate is determined 

on an annual basis in accordance with Rule 29.09(d) and is effective for a term that runs from 

October 1st to the following September 30th (“Term”). For the current Term, the Exchange set one 

Rate for the period of October 1, 2023 to June 30, 2024 and a second Rate for the period of July 

1, 2024 through September 30, 2024, as set forth in Exhibit A. The Rate for the period of July 1, 

2024 through September 30, 2024 also includes data from Morrisville, PA, which is being added 

as a delivery point beginning with the July 2024 contract month (see ICE Futures U.S. Submission 

No. 22-123). 

If you have any questions or need further information, please contact me at 212-748-4021 

or at jason.fusco@theice.com.

Sincerely,

Jason V. Fusco

Assistant General Counsel

Market Regulation

Exhibit A

(In the text of the amendments below, additions are shown underscored 

and deletions are bracketed and lined through.)

Rule 29.09. Discharge

(a) The Deliverer shall guarantee that the sugar shall be delivered and the Receiver shall guarantee that 

the sugar shall be received under the terms and conditions (except as provided in the paragraphs below) of 

the freight agreement known as Bulk Sugar Charter Party U.S.A.—April 1962 or any amended form of such 

freight agreement, and such conditions which the Board of Governors, in its discretion, may from time to 

time determine to be appropriate to make such amended form of freight agreement fair and equitable 

between the parties. 

(b) For purposes of determining despatch and demurrage, lay time at the rate of 1500 tons (2240 pounds 

each) per weather working day at berth or awaiting berth, Friday 1700 until 0800 Monday, stevedoring 

holidays and all other overtime periods excepted even if used, shall be allowed to Charterer and shall be 

continuous. 

(c) No liberty or car carrier type vessel may be used to carry sugar delivered under the Sugar No. 16 

Contract.

(d) The Receiver shall discharge the sugar at his designated berth at his own expense. However, the 

amount the Deliverer shall allow the Receiver for the discharge of sugar under Sugar No. 16 Contract, 

known as the stevedoring allowance, shall be calculated as follows:

(i) By September 15th of each year, or as soon thereafter as the information is available, the Exchange 

will collect from each refiner, located at ports authorized by the Sugar No. 16 Contract for the discharge 

of sugar, the allowance they are applying to all deliveries after October 1st of that year.

(ii) Tonnage shipped to the above refiners for the period July 1st of the prior year through June 30th of 

the current year will be collected from an Exchange licensed sugar weighmaster. From this data market 

shares by refinery will be calculated to the nearest one-tenth of one percent (.1% = 1/1,000).

(iii) The weighted average of the discharge allowances collected in step (i) above will be calculated 

by the Exchange, with the weights equal to the market shares from step (ii) above. The calculated 

weighted average will be rounded to the nearest whole cent per ton and this will be the Sugar No. 16 

stevedoring allowance for all deliveries after October 1st of that year. The rate will be posted on the 

Exchange web site.

[Stevedore Rate for [October 1, 2022 to September 30, 223 is $20.40 per long ton]October 1, 2023 to 

June 30, 2024 will increase to 21.52 per long ton, and the rate for July 1, 2023 to September 30, 

2024, that includes Morrisville, PA is 21.56].

(d) The Receiver may deduct from the final settlement to the Deliverer all discharging charges 

applicable to the vessel, including but not limited to, wharfage, water, despatch, noncompliance and/or extra 

stevedoring. The Receiver shall reimburse the Deliverer for any demurrage incurred in discharge. The 

Deliverer shall pay the freight, discharge all liens and make all settlements with the vessel or its owners. If 

an arbitration proceeding should arise under the charter party, Receiver shall, upon Deliverer's request, 

consent to become a party to the arbitration and shall be bound by any award against the Receiver in the 

proceeding.