SUBSCRIBER NOTE: Platts amends 2016 freight netback; AG-Singapore 80 kt route flat rate

Following an announcement from the Worldscale Association on an increase in Bahrain port tariffs, Platts will update the Worldscale flat basis rate used to calculate FOB Arab Gulf assessments for gasoil and jet/kerosene from August 1, 2016.

The change in port tariffs will also affect the $/mt rate of the East of Suez clean tanker assessment, namely AG-Singapore 80kt.

The Worldscale Association announced that "in light of new information regarding increased port costs", it was necessary to revise all rates involving loading or discharging at Bahrain by adding $0.21, effective July 5, 2016.

The Worldscale flat basis rate used to calculate FOB Arab Gulf gasoil and jet/kerosene assessments will be $11.41/mt.

The updated flat rate for the AG-Singapore 80kt assessment will be $11.33/mt. The AG-Singapore 80kt $/mt rate appears in the Platts database under the code TCAEB00.

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