Platts launches VLGC freight rate assessments for Persian Gulf to East Africa, US Gulf Coast to East Africa

Platts, part of S&P Global Commodity Insights, has launched two new daily assessments of LPG freight and their related monthly averages, reflecting the value of LPG freight from the Persian Gulf to East Africa and from the US Gulf Coast to East Africa, effective Sept. 1 and Sept. 2, respectively, in response to market interest for price transparency on LPG imports into East Africa shipped on Very Large Gas Carriers.

Persian Gulf-East Africa

Platts has launched a VLGC freight assessment for the Persian Gulf to East Africa route effective Sept. 1.

This new assessment is derived on a prorated basis from the underlying VLGC Persian Gulf-Japan rate. It considers the journey length between the Persian Gulf and East Africa and pro rates it from the Platts VLGC spot assessment for Persian Gulf-Japan (AAPNI00). It factors in the typical sailing time between Ras Tanura to Mombasa and applies the relevant prorated value against the benchmark Persian Gulf-Japan freight rate. Additionally, Platts considers any prevailing market information that reflects spot fixtures along the Persian Gulf to East Africa VLGC route.

The assessment reflects VLGCs with a maximum size of 44,000 mt, scheduled for loading 20-40 days forward from the publication date.

The new symbols are:

The assessment is published in Platts LPGaswire and Clean Tankerwire, as well as on fixed pages Platts LPG Alert (PGL2786 and PGL2787), Platts Tanker Alert (PGT2940 and PGT2941), Platts Shipping Alert (SHP0350 and SHP0351), and Platts Petrochemical Alert (PCA2786 and PCA2787).

The Persian Gulf to East Africa freight rates reflect the value at the Singapore market close. The assessment is published in $/mt and follows the Singapore publishing schedule.

US Gulf Coast-East Africa

Platts has also launched a US Gulf Coast-East Africa VLGC freight rate for LPG, derived from the underlying Houston-Northwest Europe VLGC spot freight assessment (AAXIQ00), effective Sept. 2.

This new LPG freight rate reflects the value of chartering a VLGC from Houston to Mombasa in East Africa to transport a 44,000 mt cargo of LPG, loading 15-45 days forward from the date of publication.

The new symbols are:

The USGC-East Africa freight rate reflects the value at the Houston market close. They are published in $/mt and follow the Houston publishing schedule.

The assessment is published in Platts LPGaswire and Clean Tankerwire, as well as on fixed pages Platts Petrochemical Alert (PCA0780 and PCA0781), Platts Global Alert (PGA0780), Platts LPG Alert (PGL0781) and Platts Refined Products Alert (PRF0780 and PRF0780).

For questions and comments, please reach out to asia_products@spglobal.com, americas_products@spglobal.com and pricegroup@spglobal.com

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