SUBSCRIBER NOTE: Platts to change the Worldscale flat rate baskets for its PG-UKC and PG-MED VLCC assessments

Following extensive market feedback, Platts has decided to change the baskets of Worldscale flat rates that are used for calculating Persian Gulf-UK Continent and Persian Gulf-Med VLCC assessments to reflect laden and ballast routing via the Suez Canal only, effective October 1 2015.

The two Worldscale assessments that are affected by this change are the Persian Gulf-UK Continent and Persian Gulf-Mediterranean routes, basis 280,000 mt, which appear on the fixed PGA page - MH2980 under the codes PFAOH00 and PFANX00 respectively. This change would affect the $/mt assessments for these routes, which appear on the same fixed page under the codes TDAAE00 for PG-UKC and TDADH00 for PG-Med.

The baskets of three Worldscale flat rates are used for each of those assessments. Currently these baskets contain a combination of flat rates based on vessel laden and ballast routing via Cape of Good Hope and via Suez Canal. According to collected market feedback, the absolute majority of voyages on these routes are performed via the Suez Canal. To reflect that Platts will change the respective baskets to be based on Suez/Suez routing only.

The following amendments to baskets of 2015 Worldscale flat rates will be carried out:

For Persian Gulf to UK Continent:

1) Ras Tanura Rotterdam (via Quoin island, L&B via: Cape) 43.31 *to be changed to Ras Tanura Rotterdam (via Quoin island, L&B via: Suez) 26.78

2) Mina al-Ahmadi Le Havre (via Quoin island, L&B via: Cape) 45.05 *to be changed to Mina al-Ahmadi Le Havre (via Quoin island, L&B via: Suez) 28.52

3) Kharg Island Rotterdam (via Quoin island, L&B via: Suez) 27.50 *to be kept the same

For Persian Gulf to Mediterranean:

1) Ras Tanura Lavera (via Quoin island, L&B via: Cape)43.02 *to be changed to Ras Tanura Lavera (via Quoin island, MSN/MSN, L&B via: Suez) 21.56

2) Mina al Ahmadi Augusta (via Quoin islan, L&B via: Cape) 44.66 *to be changed to Mina al-Ahmadi Augusta (via Quoin islan, L&B via: Suez) 19.45

3) Kharg Island Gulf of Izmit (via Quoin Island, L&B via: Suez) 19.26 *to be kept the same

Please send all comments or questions by September 30, 2015 to tankers@platts.com and pricegroup@platts.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.