Platts proposes to launch clean LR2 Persian Gulf-East Africa assessment July 1

Platts, a part of S&P Global Commodity Insights, proposes to launch a new clean Long Range II (LR2) tanker assessment for the Persian Gulf to East Africa route, effective July 1.

According to market feedback, approximately 6 million mt of middle distillates, light-end oil products and clean condensate were transported on this route using LR2 tankers in 2024. Market participants observed nearly 130 LR2 fixtures on this route during the combined period of the last two years and the first quarter of 2025. Additionally, several fixtures were reported to have been completed privately during the same timeframe.

The assessment would reflect a 90,000-mt clean petroleum product cargo from the Persian Gulf to East Africa, utilizing modern LR2 tonnage.

The proposed assessment would be published on a Worldscale percentage basis, along with a corresponding price in dollars per metric ton, derived from a flat rate based on a basket of load and discharge ports. This basket would include Jubail-Dar es Salaam, Ruwais-Mombasa and Port of Fujairah-Mombasa voyages. Discharges at any other ports in East Africa would be normalized to basis Mombasa.

The proposed assessments would appear in Clean Tankerwire, Monthly Clean Tankerwire, Platts Shipping Alert pages 330, 331, Platts Tanker Alert pages 2922, 2923.

Please send any feedback or questions to shipping@spglobal.com and pricegroup@spglobal.com by May 20.

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