Platts proposes to launch clean LR1 Arab Gulf-Singapore 60kt freight assessment from Nov 2, 2026

Platts, part of S&P Global Energy, proposes to launch a new Long Range I (LR1) Arab Gulf to Singapore 60kt clean tanker freight assessment, effective Nov. 2, 2026.

This proposal follows extensive industry consultations and analysis of spot fixtures and market data available since 2019, as well as direct feedback from market participants.

An analysis of spot fixtures on the key routes from the Arab Gulf to Singapore and from West Coast India to Singapore indicates that increasingly more concluded spot fixtures were based on 60kt cargo sizes. Over 2019-2025, on the Arab Gulf to Singapore route, 77 observed spot fixtures were concluded on 60kt cargoes in the LR1 class of clean tankers. On the West Coast India to Singapore route, 223 spot fixtures were concluded on 60kt cargoes over the same time period.

LR1 vessels typically load between 55,000 mt and 65,000 mt of clean product, including naphtha, gasoline, jet fuel, and gasoil. Platts has observed LR1 vessels frequently being fixed on a spot basis on the Arab Gulf–Singapore route using 60kt stems, particularly for shipments of jet fuel and gasoil.

The new assessment would reflect a 60kt clean product cargo loading from the Arab Gulf and discharging in Singapore, using modern LR1 tonnage (vessels with an age below 15 years). Platts would assess the route based on observed fixtures, as well as vessels going on subjects, bids/offers, and freight indications obtained through market surveys of shipowners, charterers, and shipbrokers.

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

The route basket consists of:

Jubail–Singapore

Ruwais–Singapore

Ras Tanura–Singapore

The basket flat rate used to calculate the $/mt freight would be based on the average of the Worldscale flat rates for the three routes.

Platts would continue to assess its existing suite of benchmark Clean Arab Gulf-Japan 55kt LR1 assessments.

The proposed assessments would appear in Clean Tankerwire, Monthly Clean Tankerwire, Platts Shipping Alert pages 330 and 331, and Platts Tanker Alert pages 2922, and 2923.

Assessments would follow a 16:30 Singapore timestamp and the Singapore holiday calendar.

Please send any feedback or questions to shipping@spglobal.com and pricegroup@spglobal.com by September 30, 2026.

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