Platts launches Yanbu to Far East VLCC dirty tanker freight assessment, May 4

Platts, part of S&P Global Energy, has launched a new VLCC tanker freight assessment for the 270,000-mt Yanbu to Far East route, effective May 4.

The assessment launch follows extensive industry consultations, analysis of market data and direct feedback from market participants since the start of the US-Israel war with Iran and the blockade of the Strait of Hormuz, a critical energy shipping chokepoint that prior to the conflict facilitated the flow of close to 20 million barrels of oil daily.

According to ship-tracking data from trade flow software S&P Global Commodities at Sea, over March-April 2026, month-to-date, around 40 shipments were transported via VLCCs from Yanbu to Far East Asia.

This route has now evolved into a major alternative to the key Persian Gulf–Far East Asia corridor in response to disruptions in the Strait of Hormuz and shifts in Saudi Arabia's crude export routing, and it plays a significant role in shaping charter party terms and physical trading decisions.

Saudi Arabia's East to West crude pipeline can move up to about 7 million b/d at full capacity, according to industry estimates.

The assessment reflects a 270,000-mt crude cargo loading from Yanbu and discharging in the Far East, using modern VLCC tonnage (ship age below 15 years).

The assessment is published on a Worldscale percentage basis along with a corresponding price in $/mt, derived from a flat rate based on a basket of key load and discharge ports.

The route basket consists of:

Yanbu-Ningbo;

Yanbu-Ulsan;

Yanbu-Mailiao.

The basket flat rate used for calculating the $/mt freight is based on the average of the Worldscale flat rates for the above three routes.

The new assessments, along with their respective symbol codes, are as follows:

The assessment appears in Dirty Tankerwire, Monthly Dirty Tankerwire, Platts Shipping Alert pages 440 and 441and Platts Tanker Alert pages 2980, 2981 and 905.

The assessment follows 16:30 Singapore timestamp and Singapore holiday calendar.

Please send any feedback or questions to shipping@spglobal.com and pricegroup@spglobal.com.

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