ICE Futures U.S. Inc.

55 East 52nd Street

40

th Floor

New York, NY 10055

Tel: +1 212.748.4000 I Fax: +1 212.748.4005

ice.com ICE Futures US, Inc. a designated contract market under 

the Commodity Exchange Act, as amended.

Submission No. 22-134

September 12, 2022

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 Changes

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, during the preceding week, the Exchange posted the Stevedore Rate for the 

Sugar No. 16 Futures Contract for the October 1, 2022 through September 30, 2023 period. The 

Stevedore rate is being increased from $19.17 per long ton to $20.40 per long ton. The rate was 

calculated by the Exchange pursuant to Rule 29.09, using allowances reported by refiners located 

at No. 16 contract delivery ports and weighted to reflect the tonnage shipped to the refiners for 

the prior annual period. The amendment to Rule 29.09, which updated the rate is also reflected 

in Exhibit A.

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
 

EXHIBIT A

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 effective October 1, 202[1]2 through September 30, 202[2]: 

$[19.17] 20.40 per Long Ton]

[REMAINDER OF RULE UNCHANGED]