Platts launches Med-PG and ARA-PG LR1 freight assessments

S&P Global Platts has launched 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 reflect the cost of chartering a clean LR1 tanker 3-10 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 assessments reflect a discharge port basis of Jebel Ali, Dubai.

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 are published on a lump-sum basis and expressed as dollars per voyage, to reflect how these routes are typically traded.

Platts is also publishing the equivalent dollar per metric ton value for these routes.

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

The new assessments are:

The daily assessments are published in Platts Clean Tankerwire as well as on Platts Shipping Alert pages SHP 1330, Platts Global Alert page PGA 901 and Platts Tanker Alert Add-on pages PGT 1920.

The monthly average assessments are published in Platts Clean Tankerwire Monthly, as well as on Platts Shipping Alert page SHP 1331 and Platts Tanker Alert Add-on page PGT 1921.

All prices are also published in the Platts database under the codes above.

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