Platts launches UKC-Brazil MR clean tanker assessments Sept. 2

Platts, part of S&P Global Commodity Insights, has launched two daily Medium Range 37,000 mt clean tanker freight assessments for the UKC-Brazil trade route effective Sept. 2.

Following market feedback, Platts has recognized a need for greater transparency in the freight rate for Medium Range tankers operating on the Northwest Europe-to-Brazil route, driven by increased activity levels and rate volatility in the spot market.

In addition, quantitative data from S&P Global Commodities at Sea reveals that seaborne clean volumes from Northwest Europe to Brazil have almost doubled in the last five years, surpassing 2.5 million mt in 2023.

The new clean tanker freight assessments reflect spot values for Medium Range tankers carrying clean cargo in Worldscale points and $/mt.

Additionally, a corresponding carbon-accounted assessment has been launched for the UKC-Brazil route following the recent launch of daily carbon-accounted freight assessments on all tanker routes involving EU ports on July 1.

The carbon-accounted tanker freight assessment reflects spot values inclusive of EU Emission Trading System (EU ETS) costs.

The subscriber note for the aforesaid methodology change can be accessed here.

The proposal to launch the above assessment was published June 28, and can be found here.

The decision to launch the above assessment was published July 26, and can be found here.

The new assessments include the following symbols:

The route basket for the assessments will include the following routes:

The assessments are published in the Platts Clean Tankerwire, Platts Clean Tankerwire Monthly and on the following fixed pages: SH1320, MH1910, MH0900, SH1321, MH1911, MH2629, SH2629, MH2729, SH2729.

Please send any comments or questions to tankers@spglobal.com and pricegroup@spglobal.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 to the public upon request.