Platts launches Cape of Good Hope differentials for tanker routes

Platts, part of S&P Global Commodity Insights, has launched Cape of Good Hope freight differentials for tanker assessments reflecting the movement of crude, dirty and clean products from Asia to Europe as well as Europe to North Asia, which are currently transiting through the Suez Canal, from April 1, 2024, for East of Suez assessments and April 2, 2024, for West of Suez assessments.

The frequent attacks on tankers passing through Bab-el-Mandeb, the strait that connects the Red Sea to the Gulf of Aden, while heading to and out of the Suez Canal, are forcing ships sailing from Asia to Europe and Europe to Asia to reroute along the Cape of Good Hope (COGH).

The longer sailing around the COGH requires an additional 15 days in comparison with transit through the Suez Canal for voyages from Asia to Europe and back. This has seen freight rates for voyages via the COGH being priced higher than those for Suez Canal transit.

The below assessments reflect the Cape of Good Hope differentials:

Dirty

Clean

The assessments out of the Mediterranean, ARA and Black Sea will not be published when the UK is on holiday, while those from the Persian Gulf/Arab Gulf will not be published when Singapore is closed for public holiday.

These assessments appear in Platts Dirty Tankerwire, Clean Tankerwire and on Shipping Alert pages SHP0302, SHP0304, SH0320, SH0321, SH0330, SH0331, SH0430, SH0431, SH0440, SH0441, SH1321, SH1330, SH1331 SH1440 SH1441, MH0901, MH0919, MH0924, MH1911, MH1920, MH1921, MH1970, MH1971, MH2920, MH2921, MH2922, MH2923, MH2970, MH2971, MH2980 and MH2981.

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