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

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

This decision 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 an increasing number of concluded spot fixtures were based on 60-kt cargo sizes. Over 2019-2025, on the Arab Gulf-to-Singapore route, 77 observed spot fixtures were concluded on 60-kt cargoes in the LR1 class of clean tankers. On the West Coast India-to-Singapore route, 223 spot fixtures were concluded on 60-kt 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 60-kt stems, particularly for shipments of jet fuel and gasoil.

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

The assessment will be published on a Worldscale percentage basis, together with a corresponding price in $/mt. The $/mt figure will 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 will be based on the average of the Worldscale flat rates for the three routes.

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

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

Assessments will follow a 16:30 Singapore time stamp and the Singapore holiday calendar.

Please send any feedback or questions to shipping@spglobal.com and pricegroup@spglobal.com by Oct. 31, 2026.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.