SUBSCRIBER NOTE: Freight netback for Azeri Light FOB Ceyhan in 2019

Effective January 2, 2019, the Worldscale flat rate used to calculate the freight netback to the Azeri Light CIF Augusta assessments for Azeri Light FOB Ceyhan Suezmax, Azeri Light FOB Ceyhan Aframax, and Azeri Light BTC FOB Ceyhan will be $6.71 per metric ton. The flat rate for the Azeri Light FOB Ceyhan Suezmax and Azeri Light FOB Ceyhan Aframax assessments will be adjusted using the Worldscale rate published in the Platts Dirty Tankerwire for a 135,000 mt Suezmax and an 80,000 mt Aframax Cross-Mediterranean route respectively. The flat rate for Azeri Light BTC FOB Ceyhan will be adjusted using the average of the Worldscale rates published in the Platts Dirty Tankerwire for a 135,000 mt Suezmax and an 80,000 mt Aframax Med-Med route. The conversion factor applied will be 7.45.

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