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

Following a period of industry consultation and feedback, S&P Global Platts has launched a new clean Medium Range or MR tanker assessment on the North Asia to Australia route.

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

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

The assessment reflects a 35,000-mt clean cargo from South Korea to Australia. The assessment reflects 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 are normalized to basis Botany Bay.

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

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