Platts discontinues nine Asia clean tanker assessments

Platts, part of S&P Global Commodity Insights, has discontinued nine East of Suez clean tanker assessments, effective Sept. 1, due to a lack of spot liquidity in recent years.

Platts first proposed these changes in a subscriber note published May 19: http://plts.co/CxJK30sl0uI

With India and the US becoming net exporters of refined products in recent years, imports into these countries from the Red Sea have declined. Imports into the US from the Middle East have also fallen drastically in additions to the decline in flows from the Red Sea

Since January 2020, there have been zero spot fixtures observed on the 35,000 mt Red Sea-West Coast India route. When needed, India typically sources supply from the Persian Gulf and Singapore.

On the 30,000 mt Arab Gulf-USWC route, for example, only seven spot fixtures were seen since January 2020. When the US imports refined products, it typically sources them from places such as Northwest Europe and North Asia.

Platts understands that spot fixtures for LR1 tankers loading from Singapore to other parts of Asia have also fallen in recent years, with such flows of clean products typically occurring on Medium Range tankers. For example, no spot fixtures have been seen since January 2020 on the LR1 55,000 mt Singapore-Japan route.

The following assessments have been discontinued:

Daily

Route Worldscale $/mt

Singapore to Japan 55kt PFAKI10 TCABQ00

Singapore to South Korea 55kt PFAKJ10 TCABS00

Red Sea to West Coast India 35kt PFAMC00 TCABI00

Monthly averages

Route Worldscale $/mt

Singapore to Japan 55kt AAAUW00 TCABQ03

Singapore to South Korea 55kt AAAUX00 TCABS03

Red Sea to West Coast India 35kt PFAQQ03 TCABI03

Daily

Route Lumpsum $/mt

Red Sea to USWC 35kt PFANB00 TCACZ00

Red Sea to USAC 35kt PFANP00 TCADA00

Arab Gulf to USWC 30kt PFABR00 TCADE00

Arab Gulf to USAC/GC 30kt PFANQ00 TCADF00

Singapore to India 55kt PFAKK10 TCADU00

Singapore to Hong Kong 55kt PFAKL10 TCADV00

Monthly averages

Route Lumpsum $/mt

Red Sea to USWC 35kt PFAQY03 TCACZ03

Red Sea to USAC 35kt AAAUT00 TCADA03

Arab Gulf to USWC 30kt AAAUI00 TCADE03

Arab Gulf to USAC/GC 30kt PFAQD03 TCADF03

Singapore to India 55kt AAAUY00 TCADU03

Singapore to Hong Kong 55kt AAAUZ00 TCADV03

These assessments were previously published in Clean Tankerwire and Clean Tankerwire Monthly; on Platts Global Tanker Alert pages PGT2920, PGT2921 and Platts Shipping Alert pages SHP0320 and SHP0321; as well as in the Platts price database under the codes above.

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