Platts to launch new Mediterranean Aframax dirty freight assessments

S&P Global Platts will begin publication of two new Aframax assessments in the Mediterranean and change the basket for the current cross-Mediterranean Aframax assessment in the West of Suez dirty tanker markets from Feb. 1, 2021.

Crude oil trading patterns in the Mediterranean basin have continued to evolve, with certain routes pricing at premiums or discounts to the current cross-Mediterranean assessment on Aframaxes.

Platts has observed an increasing number of fixtures for the following routes:

80,000 mt Sidi Kerir to Mediterranean

80,000 mt Libya to Mediterranean

Platts will publish daily spot and monthly average assessments for these two routes in order to better capture the growing diversity and to better reflect the spot freight markets in the Mediterranean basin.

The 80,000 mt Sidi Kerir to Mediterranean assessment will be based on the following freight basket:

Sidi Kerir to Cartagena; Sidi Kerir to Trieste; Sidi Kerir to Livorno

The 80,000 mt Libya to Mediterranean assessment proposed freight basket has changed following market feedback and alteration in exports’ share from the different ports.

The new basket will be based on the following routes:

Es Sider to Trieste; Bouri to Fos; Zuetina to Sarroch

Platts will also change the basket of the current 80,000 mt Aframax cross-Mediterranean assessment, from the current basket:

Sidi Kerir to Lavera; La Skhirra to Augusta; Ceyhan to Trieste

The new freight basket for the cross-Mediterranean 80,000 mt assessment will be:

Ceyhan to Trieste; Ceyhan to Augusta; Ceyhan to Huelva

The name will also be amended to Ceyhan-Mediterranean from Mediterranean-Mediterranean.

Platts is also amending the name of the demurrage assessment for the Med-Med run basis 80,000 mt (AMEDB00) to Ceyhan-Med, and amending this to reflect the Ceyhan-to-Mediterranean basket.