Platts to launch Clean LR2 Persian Gulf-East Africa tanker assessment

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

This decision is based on robust industry consultations, market data, and feedback.

The assessment was first proposed through a subscriber note on April 30.

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 2023-2024 and the first quarter of 2025. Additionally, several fixtures were reported to have been completed privately during the same timeframe.

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

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

The assessments will 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.

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