SUBSCRIBER NOTE: Platts proposes to launch USGC-Europe Suezmax freight assessments

S&P Global Platts proposes to launch US Gulf Coast-UK Continent and USGC-Mediterranean freight assessments for the Suezmax tanker market, effective April 1.

This is to reflect the increasing volume of crude exports in Suezmax tankers from the US Gulf Coast to Europe, following the lifting of the US crude export ban in December 2015.

The new assessments would be assessed on a Worldscale basis and published as Worldscale points. Platts also would publish the equivalent US dollar per metric ton value for these assessments.

The proposed new freight assessments are:

USGC-UK Continent: This assessment would reflect the cost of transporting a 145,000 mt cargo on a dirty Suezmax tanker from the US Gulf Coast to the UK Continent, for loading seven to 25 days forward. The assessment would reflect loadings from Houston, Galveston Offshore Lighterage and Corpus Christi in Texas; and discharge at Rotterdam, Netherlands and Fawley, UK.

USGC-Mediterranean: This assessment would reflect the cost of transporting a 145,000 mt cargo on a dirty Suezmax tanker from the US Gulf Coast to the Mediterranean, for loading seven to 25 days forward. The assessment would reflect loadings from Houston, Galveston Offshore Lighterage and Corpus Christi in Texas; and discharge at Cartagena, Spain; Trieste, Italy; and Lavera, France.

Please send all feedback or questions by March 15 to shipping@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.