Platts proposes to discontinue Suezmax dirty PG-Red Sea 130kt tanker freight assessment

Platts, part of S&P Global Commodity Insights, proposes to discontinue its dirty Suezmax Persian Gulf-Red Sea 130kt tanker freight assessment due to extremely low spot market activity on this route, effective May 2, 2024.

According to market participants, Suezmax tankers are losing their competitiveness in transporting crude and fuel oil in comparison with Aframax and VLCC-class ships on the Persian Gulf to Red Sea route. Only 39 Suezmax shipments were observed from 2019 to 2023 on this route, according to S&P Global Commodities At Sea data.

The affected assessment is as follows:

Please submit any feedback, comments or questions to shipping@spglobal.com and pricegroup@spglobal.com by April 1, 2024.

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