SUBSCRIBER NOTE: Platts to launch new US clean tanker assessments

Following feedback on its October 2014 proposal, Platts confirms that it will launch new clean Long Range 1 tanker freight rate assessments reflecting flows from US Gulf Coast to UK Continent and Mediterranean effective December 1, 2014.

The new assessments will aim to capture newly established supply trends of refined products out of the region following significant structural changes to the US oil industry and reflect shifting trading patterns. The new assessments would reflect modern LR1 tonnage no more than 15 years old.

The assessments will be published on a Worldscale basis to reflect how these routes are traded. Platts would also publish a dollars per metric ton value for these routes.

US GULF COAST TO UK CONTINENT: This assessment will be based on a 65,000-80,000 dwt Long Range 1 tanker carrying a 60,000 mt cargo of clean products from the US Gulf Coast to UK Continent, and reflect the increased amount of refined products leaving the US Gulf Coast. The assessment will include loadings from New Orleans and Houston and discharge at Rotterdam and Antwerp.

US GULF COAST TO MEDITERRANEAN: This assessment will be based on a 65,000-80,000 dwt Long Range 1 tanker carrying a 60,000 mt cargo of clean products from the US Gulf Coast to UK Continent, and reflect the increased amount of refined products leaving the US Gulf Coast. The assessment will include loadings from New Orleans and Houston and discharge at Lavera and Genoa.

These new assessments would be published in Platts Clean Tankerwire and Platts Tanker Alert page PGT 1924. Please send all further comments or questions to tankers@platts.com and pricegroup@platts.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.