Platts launches Suezmax 130,000-mt Persian Gulf to West Coast India assessment Sep 1

Platts, part of S&P Global Commodity Insights, has launched a new Suezmax tanker freight assessment for the 130,000-mt Persian Gulf to West Coast India route, effective Sept. 1.

The launch of the assessment was first proposed in a subscriber note published July 3.

The assessment launch follows extensive industry consultations, analysis of market data and direct feedback from market participants.

According to ship tracking data from trade flow software S&P Global Commodities at Sea, over 2019-2024, an average of 21 shipments per month were transported via Suezmax tankers on this route.

The assessment reflects a 130,000-mt crude cargo loading from the Persian Gulf and discharging along the West Coast of India, using modern Suezmax 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:

1. Ras Tanura-Vadinar
2. Basrah-Mumbai
3. Das Island-Kochi

The basket flat rate used for calculating the $/mt freight is based on the average of the Worldscale flat rate of 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 330 and 331 and Platts Tanker Alert pages 2922 and 2923.

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

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