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

Platts, part of S&P Global Commodity Insights, has updated the formula 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 change to the formula is effective Aug. 1, 2024 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.

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