Platts to launch Global Clean Tanker TCE Indices from Nov. 3

Platts, part of S&P Global Commodity Insights, will launch three daily Global Clean Tanker time charter equivalent (TCE) ton-miles weighted indices, for Medium Range (GCTMR), Long Range 1 (GCTLR1) and Long Range 2 ( GCTLR2) tankers, based on non-scrubber, non-eco class tankers using 0.5% sulfur bunker fuel, effective Nov. 3, 2025.

Simultaneously, Platts will also launch three Global Clean Tanker time charter equivalent ton-miles weighted indices, for Medium Range (GCTMRSE), Long Range 1 (GCTLR1SE) and Long Range 2 (GCTLR2SE) tankers, based on scrubber-fitted, eco-class design tankers using 3.5% sulfur bunker fuel.

Given the major changes in global seaborne refined products trade, marked by new production and consumption areas, the clean tanker freight market currently lacks a comprehensive weighted TCE index that accurately reflects trade flow volume.

As the global clean tanker fleet evolves to improve fuel efficiency, various tanker types -- including those with scrubbers and eco-designs -- have emerged, resulting in varying daily returns.

To support the launch of GCTMR, GCTMRSE, GCTLR1, GCTLR1SE, GCTLR2 and GCTLR2SE, Platts will also launch two series of calculated TCE clean tanker assessments for each tanker class, with each series serving non-scrubber and scrubber-fitted eco-vessels, respectively.

The introduction of these two TCE rate series for both non-eco, non-scrubber and scrubber-fitted eco-vessels aims to capture the market's upper and lower earnings ranges, providing clearer insight into TCE earnings across different clean tanker categories. The clean tanker TCE assessments and indices will cover the following weight-assigned routes:

The Global Clean Tanker indices will not be published on days when any of London, Singapore, Houston, or all three locations observe a public holiday.

The TCE assessments for the routes UK/Continent-West Africa, UKC-US Atlantic Coast, UKC-East Coast South America, Mediterranean-USAC, and Med- Far East will follow the London schedule and be published at 4:30 pm London time.

The TCE assessments for the routes Arab Gulf-East Africa, Far East-Far East, Far East-Southeast Asia, AG-Far East and AG-UKC will follow the Singapore schedule and be published at 4:30 pm Singapore time.

The assessments for the routes US Gulf Coast-Caribbean, USGC-Chile, and USGC-UKC will follow the Americas schedule and be published at 1:30 pm Houston time.

The weightings for individual TCE assessments will be based on the volume of clean tanker movements, as observed by data from S&P Global Commodities at Sea, converted to ton-miles. Ton-mile demand estimate is derived from the cargo volume in metric tons during 2022-2024 between regions, multiplied by the distance travelled in nautical miles for the specified routes, following the shortest route.

Platts Global Clean Tanker Index

Platts will also launch a Global Clean Tanker Index, a combined wet bulk freight industry marker derived from the proposed weighted average time charter equivalent indices, namely the Global LR2 Indices (GCTLR2 and GCTLR2SE), the Global LR1 Indices (GCTLR1 and GCTLR1SE) and the Global MR Indices (GCTMR and GCTMRSE), effective Nov. 3, 2025.

The Platts Clean Tanker Index will be published in dollars per day ($/day) for both non-eco, non-scrubber vessels (CTI) and eco-class, scrubber-fitted ships (CTISE), following the logic of capturing the market's upper and lower earning ranges.

The index assessments will not be published on days when either London, Houston, or Singapore or all locations have a public holiday.

The Platts Global Clean Tanker Index will weigh the individual indices based on the ton-days observed for LR2, LR1, and MR tankers globally over the last three full years (2022-2024) from CAS.

Ton-days demand is calculated by multiplying the volume of cargo moved in metric tons by the duration of each tracked shipment in days.

The weighting for the Platts Global Clean Tanker Index will be as follows, based on ton-days observed over Jan. 1, 2022, to Dec. 31, 2024:

Platts may review the weightage in the event of a substantial change in observed trade flows.

These changes were first proposed here in a note published Sept. 22, 2025.

Please send any comments or questions to tankers@spglobal.com and pricegroup@spglobal.com.

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