Platts launches LR1 Persian Gulf-Singapore 60kt clean tanker freight assessment Nov 2, 2026

Platts, part of S&P Global Energy, has launched a new Long Range I {LR1} Persian Gulf to Singapore 60kt 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 Persian 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 Persian 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 for 60kt cargoes over the same 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 Persian Gulf–Singapore route using 60kt stems, particularly for shipments of jet fuel and gasoil.

The new assessment reflects a 60kt clean product cargo loading from the Persian 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 market survey of shipowners, charterers, and shipbrokers.

The assessment is published on a Worldscale percentage basis, together with a corresponding price in $/mt. The $/mt figure is 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 Persian Gulf-Japan 55kt LR1 assessments.

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

Assessments 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.

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