SUBSCRIBER NOTE: Platts to launch new S Korea-Australia clean MR tanker assessment

Following a period of industry consultation and feedback, S&P Global Platts has decided to launch a new clean Medium Range or MR tanker assessment on the North Asia to Australia route, with effect from September 4, 2017.

Platts first proposed the new assessment July 10 in a subscriber note (https://www.platts.com/subscriber-notes-details/26769624).

The new assessment will reflect MR tankers moving from South Korea to Australia. Platts has observed around 7.5 million mt of middle distillates and light end oil products moving on this route annually.

The assessment will be published on a Worldscale percentage basis. The Worldscale assessment will also be published in dollars per metric ton, which will be calculated by dividing the total freight rate by the cargo size reflected in the assessment. The new assessment will reflect modern MR tonnage.

The assessment will reflect a 35,000 mt clean cargo from South Korea to Australia. The assessment will reflect loadings from Yeosu, Onsan and Daesan and discharge into Brisbane, Botany Bay and Geelong as the discharge basis ports. Discharges at any other Australian ports will be normalized to basis Botany Bay.

Please send any feedback or questions to shipping@spglobal.com and pricegroup@spglobal.com.

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Platts will consider all comments received and will make comments not marked as confidential available upon request.