SUBSCRIBER NOTE: Platts proposes to change PG-UKC, PG-MED VLCC Worldscale flat rate baskets

Following extensive market feedback, Platts proposes to change the baskets of Worldscale flat rates that are used for calculating Persian Gulf-UK Continent and Persian Gulf-Med VLCC assessments to reflect laden and ballast routing via the Suez Canal only, effective October 1, 2015.

The two Worldscale assessments that would be affected by this change are the Persian Gulf-UK Continent and Persian Gulf-Mediterranean routes, basis 280,000 mt, which appear on the Platts Global Alert fixed page 2980 under the price database codes PFAOH00 and PFANX00 respectively.

This change would also affect the $/mt assessments for these routes, which appear on the same fixed page under the price database codes TDAAE00 for PG-UKC and TDADH00 for PG-Med.

The baskets of three Worldscale flat rates are used for each of those assessments.

Currently these baskets contain a combination of flat rates based on vessel laden and ballast routing via Cape of Good Hope and via Suez Canal.

According to collected market feedback, the absolute majority of voyages on these routes are performed via the Suez Canal.

To reflect that, Platts proposes to change the respective baskets to be based on Suez/Suez routing only.

The following amendments to baskets of 2015 Worldscale flat rates are planned:

For Persian Gulf to UK Continent:

1) Ras Tanura - Rotterdam (via Quoin Island, L&B via: Cape) 43.31 *to be changed to Ras Tanura - Rotterdam (via Quoin Island, L&B via: Suez) 26.78

2) Mina al-Ahmadi - Le Havre (via Quoin Island, L&B via: Cape) 45.05 *to be changed to Mina al-Ahmadi - Le Havre (via Quoin Island, L&B via: Suez) 28.52

3) Kharg Island - Rotterdam (via Quoin Island, L&B via: Suez) 27.50 *to be kept the same

For Persian Gulf to Mediterranean:

1) Ras Tanura - Lavera (via Quoin Island, L&B via: Cape)43.02 *to be changed to Ras Tanura - Lavera (via Quoin island, MSN/MSN, L&B via: Suez) 21.56

2) Mina al Ahmadi - Augusta (via Quoin Island, L&B via: Cape) 44.66 *to be changed to Mina al-Ahmadi - Augusta (via Quoin Island, L&B via: Suez) 19.45

3) Kharg Island - Gulf of Izmit (via Quoin Island, L&B via: Suez) 19.26 *to be kept the same

Please send all comments or questions by June 30, 2015 to tankers@platts.com and pricegroup@platts.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.