Platts launches clean LR2 Persian Gulf-East Africa assessment July 1

Platts, part of S&P Global Commodity Insights, has launched a new clean Long Range 2 (LR2) tanker assessment for the Persian Gulf to East Africa route, effective July 1.

According to market feedback, approximately 6 million metric tons 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 the last two years and the first quarter of 2025. Additionally, several fixtures were reported to have been completed privately during the same time frame.

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

The assessment is published on a Worldscale percentage basis, along with a corresponding price in dollars per metric ton, 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 new assessments, along with their respective symbol codes, are as follows:

The assessments 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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