Platts to launch Med-PG and ARA-PG LR1 freight assessments Nov. 1

S&P Global Platts will launch two new Long Range 1 clean tanker freight rate assessments for Mediterranean to Persian Gulf and Amsterdam-Rotterdam-Antwerp to Persian Gulf, effective Nov. 1, 2021.

The new assessments will reflect the cost of chartering a clean Long Range 1 tanker three to 10 days forward, to transport a 60,000 mt cargo from ARA ports basis Antwerp loading and from Mediterranean ports basis Mellitah in Libya to the Persian Gulf.

The routes represent well-established and key trade flows for both clean condensate and gasoline into the Persian Gulf loaded onto Long Range tankers, reflecting a bridge between the west of Suez markets and key export hubs in the Persian Gulf markets.

The assessments will reflect a discharge port basis of Jebel Ali, Dubai.

The assessments will be published on a lump-sum basis and expressed as US dollars per voyage, to reflect how these routes are typically traded. Platts will also publish the equivalent US dollar per metric ton value for these routes.

Port costs associated with transit through the Suez Canal will be included in the lump-sum freight cost.

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