Platts changes flat rate basket for 135,000 mt Black Sea-Med dirty tanker assessment Dec. 1

Platts, part of S&P Global Commodity Insights, has changed the basket of ports used in the dollar per metric ton calculations for its 135,000 mt Black Sea to Med dirty tanker assessment, effective Dec. 1, 2022

Platts has replaced the Russian port of Novorossiisk with the CPC export terminal as the load port basis of all three routes in the basket.

In markets where freight is traded on a Worldscale basis, Platts publishes freight assessments in points, which reflect a percentage of the prevailing Worldscale annual flat rates.

Platts also publishes equivalent $/mt freight rates for these markets, based on a basket of Worldscale flat rates comprising several key routes between the two regions specified in the assessment.

According to data compiled by Platts from January 2021-August 2022, 95% of spot fixtures on the 135,000 mt Black Sea-Mediterranean loaded from the CPC terminal, with the remaining 5% loading from Novorossiisk.

Furthermore, according to crude loading programs from CPC and Novorossiisk seen by Platts, the predominant Suezmax stem size that loads from the CPC terminal is 135,000 mt, while the port of Novorossiisk typically loads 140,000 mt stems.

Following the change to the flat rate basket, the new $/mt calculations on the 135,000 mt Black Sea-Mediterranean route is based on the average flat rate of the following routes:

The affected assessment and the related monthly average assessment are published in Dirty Tankerwire and Dirty Tankerwire Monthly; on Platts Shipping Alert pages 1440 and Platts Tanker Alert pages 1970; as well as in the Platts price database under the codes below:

Assessment name Daily Code MAvg Code

Black Sea-Mediterranean 135kt $/mt TDADL00 TDADL03

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