Platts amends dirty tanker flat rate for Teesside-Rotterdam 80,000 mt route from May 1

Following a Worldscale Association update for the port of Teesside, Platts, part of S&P Global Commodity Insights, has amended the $/mt flat rate of the Teesside-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 Teesside-Rotterdam Freight Adjustment Factor (FAF) and the North Sea-Rotterdam FAF, which is used for netting back CIF Rotterdam WTI Midland values to FOB-North Sea equivalents.

As a result of updates to both the Teesside-Rotterdam and Sullom Voe-Rotterdam routes, the weighted average flat rate used in the calculation of the WTI Midland North Sea-Rotterdam FAF is now $6.75/mt from May 1.

The amendment to the Sullom Voe-Rotterdam flat rate was published in a subscriber note April 8 and can be found here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/040824-platts-to-amend-dirty-tanker-flat-rate-for-sullom-voe-rotterdam-80000-mt-route-from-may-1

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