Platts updates 2025 freight netbacks for Asia/AG oil product assessments

Platts, part of S&P Global Commodity Insights, has updated the basis rates used in its calculation of various freight netback assessments in Asia and the Middle East, in line with flat rates published by the Worldscale Association, effective Jan. 2, 2025.

The basis rate used to calculate FOB Arab Gulf unleaded gasoline assessments is $13.60/mt, and a fixed differential port charge is applied at Jebel Ali. The basis rates used to calculate C+F Japan and C+F Australia unleaded gasoline assessments are the Worldscale 2025 flat rates between the relevant ports, as published by the Worldscale Association.

The basis rate used to calculate the FOB Arab Gulf naphtha netback is $26.43/mt for Long Range 1 and Long Range 2 ships, and fixed differential port charges are an additional 18 cents/mt. The basis rate used to calculate FOB Singapore naphtha is the Worldscale 2025 flat rate between the relevant ports.

The basis rate used to calculate FOB Arab Gulf gasoil and jet fuel/kerosene assessments is $14.51/mt, and fixed differential port charges are an additional 14 cents/mt. The basis rate for C+F Australia gasoil and jet fuel/kerosene is the Worldscale flat rate between the relevant ports. The basis rates used to calculate the netback FOB Arab Gulf 180CST and 380 CST fuel oil assessments are the Worldscale flat rates between the relevant ports.

The actual freight applied to derive the netback or C+F assessments fluctuates daily based on changes to Platts freight assessments, as published in Platts Dirty Tankerwire and Clean Tankerwire, applied against the respective 2025 basis rates. Any additional port charges and/or fixed differentials are then added separately.

For further details on the Asia oil products netback methodology, please refer to the Asia Pacific and Middle East Refined Oil Products Guide: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Asia-refined-oil-products-methodology.pdf.

Please send any further comments and questions to asia_products@spglobal.com and pricegroup@spglobal.com.

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