Platts to launch new Med-Far East Suezmax, Baltic-Med Aframax dirty tanker freight assessments

Following research and market feedback, S&P Global Platts has decided to amend the assessment method from Worldscale basis to lump sum basis for the 130,000 mt Mediterranean to Far East assessment.

Platts will launch one new Mediterranean to Far East Suezmax assessment and one new Baltic to Mediterranean Aframax assessment in the West of Suez dirty tanker markets from August 3, 2020.

Crude oil trading patterns in the Atlantic Basin and Mediterranean have continued to evolve, and have significantly altered the flow of certain vessels along specific sea routes.

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

130,000 mt Mediterranean to Far East

100,000 mt Baltic to Mediterranean

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

The new Aframax assessment will be assessed on a Worldscale basis and published as Worldscale points.

The Suezmax assessment will be assessed on a lump sum basis and published in dollars.

Platts will also publish the equivalent dollars per metric ton value.

The 100,000 mt Baltic to Mediterranean assessment will be based on the following freight basket:

100,000 mt Baltic-Mediterranean : Primorsk to Augusta and Ust-Luga to Augusta.

Please send all comments or questions to shipping@spglobal.com and pricegroup@spglobal.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 to the public upon request.