Platts to update VGO netback rate to reflect revised Turkish Straits transit fee

Platts, part of S&P Global Commodity Insights, will update the formulae to derive its netback and net forward assessments to reflect an increase in flat rates for voyages transiting the Turkish Straits, as detailed in Worldscale Circular No. 39 (2024).

The changes to the formulas will be effective Aug. 1 for the following assessments:

The flat rate used to calculate FOB Black Sea VGO cargoes (ABBAD00 and ABBAC00) as a freight netback from CIF Mediterranean cargoes will be $9.07/mt.

Please send any comments and feedback to europe_products@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 upon request.