S&P Global amends freight netback rate for 2022 AG-Singapore clean product routes April 1

Following an update from the Worldscale Association on the introduction of new marine terminal assistance fees for the port of Ras Tanura, S&P Global Commodity Insights has amended the freight rate used to calculate its Platts FOB Arab Gulf assessments for naphtha, gasoil and jet fuel/kerosene as netbacks from Singapore with effect from April 1, 2022.

According to Worldscale circular no. 13/2022 on Jan. 21, the change is effective for all voyages on which loading or discharging commences on or after April 1, 2022. Please refer to the Worldscale website for more information on the update.

As a result of this update, the new 2022 freight netback basis rate used to calculate the Platts FOB Arab Gulf naphtha has been amended to $25.40/mt April 1, from $25.34/mt previously. The new 2022 freight netback rate used to calculate the Platts FOB Arab Gulf gasoil and jet fuel/kerosene has been amended to $13.51/mt, from $13.46/mt previously.

The actual freight applied to derive the netback assessments fluctuates daily based on changes to S&P Global's freight assessments, as published in Platts Dirty Tankerwire and Clean Tankerwire, applied against the respective 2022 basis rates.

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