Platts to amend dirty tanker flat rate for Teeside-Rotterdam 80,000 mt route from May 1

Following a Worldscale Association update for the port of Teeside, Platts, part of S&P Global Commodity Insights, will amend the $/mt flat rate of the Teeside-Rotterdam 80,000-mt route effective May 1, 2024.

Please refer to the Worldscale website for more information on its update.

The updated flat rate feeds into both the Teeside-Rotterdam Freight Adjustment Factor (FAF) and the North Sea-Rotterdam FAF, which is used for netting back CIF Rotterdam WTI Midland values back to FOB-North Sea equivalents.

As a result of the update, the weighted average flat rate used in the calculation of the WTI Midland North Sea-Rotterdam FAF will be $6.74/mt.

Please send all comments or questions to europe_crude@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 upon request.