Platts publishes 2025 yearly base rates for tanker freight assessments

Platts, part of S&P Global Commodity Insights, has launched 2025 yearly base rates effective from Dec. 16, basis conventional bunker fuel and LNG bunker fuel.

The base rates are a standardized estimate of the cost of moving a tanker for all assessed freight routes, with the exception of lump-sum routes.

The calculation of the base rate has one established assumption, which is to list all possible costs for the entire voyage and divide them by the deadweight tonnage of the standard vessel to arrive at the $/mt base rate, which equates to 100 points on the scale.

Platts Base Rates can be applied to calculate tanker freight rates basis points and dollars per ton as well as various product netback and net forward assessments, along with crude yield and netback prices.

The 2025 yearly base rates are calculated using the average bunker price from Oct. 1, 2023, to Sept. 30, 2024, basis:

• Singapore 0.5% sulfur marine bunker fuel for rates basis loading originating in the East of Suez: $624.06/mt
• Rotterdam 0.5% sulfur marine bunker fuel for rates basis loading originating in the West of Suez (for non-ECA regions): $564.92/mt
• Rotterdam 0.1% low sulfur bunker fuel for rates basis loading originating in the West of Suez (for ECA regions): $695.05/mt
• LNG bunker fuel Singapore -- for rates basis loading originating in the East of Suez: $751.1/mt
• LNG bunker fuel Rotterdam -- for rates basis loading originating in the West of Suez: $678.11/mt

Platts has also updated the port disbursement account or charges basis Aframax class tankers for ports that are used in the calculation of yearly and dynamic base rates here: https://www.spglobal.com/platts/PlattsContent/_assets/_files/downloads/base-rates-symbols.xlsx

The yearly base rates, published annually, will change in the event of a concerned port changing its port disbursement account or charges.

Any proposal to change base rates will be communicated to the market through subscriber notes in advance.

Platts Dynamic Base Rates, calculated daily based on the daily bunker price, follow the London holiday calendar for routes originating in the West of Suez region, while routes originating in the East of Suez follow the Singapore holiday calendar (https://www.spglobal.com/commodityinsights/en/our-methodology/holiday).

Platts Base Rates are available on Platts Connect and can be accessed here Platts Connect: Shipping Platts Base Rates

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

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