Platts to discontinue Suezmax dirty PG-Red Sea 130kt tanker freight assessment from May 2, 2024

Platts, part of S&P Global Commodity Insights, will discontinue its dirty Suezmax Persian Gulf-Red Sea 130kt tanker freight assessment due to extremely low spot market activity on this route, effective May 2, 2024.

The subscriber note proposing the said change was published on Feb. 1 and can be accessed here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/020124-platts-proposes-to-discontinue-suezmax-dirty-pg-red-sea-130kt-tanker-freight-assessment

According to market participants, Suezmax tankers are losing their competitiveness in transporting crude and fuel oil in comparison with Aframax and VLCC-class ships on the Persian Gulf-to-Red Sea route. Only 39 Suezmax shipments were observed from 2019 to 2023 on this route, according to S&P Global Commodities at Sea data.

The affected assessment is as follows:

This assessment appears in Platts Dirty Tankerwire; Platts Shipping Alert pages 430, 431, and Platts Tanker Alert pages 2970, 2971, as well as in the Platts price database under the code above.

Please submit any feedback, comments or questions to: shipping@spglobal.com and pricegroup@spglobal.com.

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