Platts launches Brazil-UKC, Brazil-Med Suezmax dirty tanker assessments Nov. 1

Platts, part of S&P Global Commodity Insights, has launched two 130,000 mt Brazil-UK Continent and Brazil-Mediterranean assessments, effective Nov. 1, 2022, to reflect the growing crude trade flow on these routes on Suezmax tankers.

Platts first proposed these assessments in a subscriber note published Sept. 8, 2022, here.

Brazilian crude exports to Europe have been increasing in recent years, as flows to China have declined amid reduced domestic demand. Demand for low sulfur Brazilian crudes have also increased following the International Maritime Organization's 2020 regulations, as well as changing trade flows following the Russia-Ukraine conflict.

Total crude exports from Brazil to Europe rose 30% to 3.9 million mt in 2021, compared with 2019, data from Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights showed. During the same period, Brazilian crude exports to Europe on Suezmax tankers surged 162% to 3.5 million mt in 2021. Crude exports on Suezmax tankers on these routes are continuing to grow, hitting 2.2 million mt during the January-July 2022 period.

These new assessments are published on a Worldscale basis and expressed as Worldscale points. Platts also publishes the equivalent US dollar per metric ton value for these assessments.

The new assessments are:

Suezmax Brazil to UK Continent 130,000 mt: This assessment reflects the cost of chartering a Suezmax tanker carrying a cargo of 130,000 mt from Brazil to the UK Continent, for loading 7-25 days forward. The assessment reflects loadings from Angra dos Reis, Porto Acu and Santos, and discharge at Rotterdam and Sines.

Suezmax Brazil to Mediterranean 130,000 mt: This assessment reflects the cost of chartering a Suezmax tanker carrying a cargo of 130,000 mt from Brazil to the Mediterranean, for loading 7-25 days forward. The assessment reflects loadings from Angra dos Reis and Porto Acu, and discharge at Augusta, Algeciras, and Ashkelon.

These assessments are published in the Platts price database under the codes below:

These assessments appear on Platts Global Alert pages 1972 and 1971 and Platts Shipping Alert pages 2440 and 2441; in the Dirty Tankerwire and in the Platts price database under the codes above.

Please send all comments or questions to shipping@spglobal.com and pricegroup@spglobal.com.

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