Platts discontinues Suezmax dirty PG-Red Sea 130 kt tanker freight assessment May 2

Platts, part of S&P Global Commodity Insights, is discontinuing its dirty Suezmax Persian Gulf-Red Sea 130,000 mt tanker freight assessment due to extremely low spot market activity on this route, effective May 2.

The subscriber note proposing the discontinuation was published Feb. 1.

Market participants said Suezmax tankers are losing their competitiveness in transporting crude and fuel oil compared with Aframax and VLCC-class ships on the Persian Gulf-to-Red Sea route.

Only 39 Suezmax shipments were observed on this route from 2019 to 2023, according to S&P Global Commodities at Sea data.

The affected assessment is as follows:

The assessment appeared in Platts Dirty Tankerwire, Platts Shipping Alert pages 430 and 431 and Platts Tanker Alert pages 2,970 and 2,971, 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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