Platts proposes launch of Black Sea-Far East Suezmax freight assessment

Following research and market feedback, S&P Global Platts has amended its proposal for the new 135,000 mt Black Sea to Far East assessment from Worldscale basis to lump sum basis.

Platts is also extending the feedback period for a week.

S&P Global Platts is proposing to begin publication of a new Suezmax Black Sea-Far East dirty tanker freight assessment effective August 3, 2020.

Crude oil trading patterns in the Black Sea Mediterranean region have continued to evolve and have significantly altered the flow of certain vessels along specific sea routes, with an increasing share of dirty petroleum products heading to the Asian continent.

Platts has observed an increasing number of fixtures for the following route:

135,000 mt Black Sea to Far East

Platts is proposing to publish daily spot and monthly average assessments for the above route in order to better capture growing liquidity and to better reflect the spot markets in Europe.

The new assessment would be assessed on a lump sum basis and published in dollars.

Platts would also publish the equivalent dollar per metric ton value.

Please send all comments or questions to shipping@spglobal.com and pricegroup@spglobal.com by June 24.

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 to the public upon request.