Platts Launches Tanker Freight Rates to Reflect Costs of New Fuels

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Platts, part of S&P Global Commodity Insights, the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, has launched Platts Base Rates based on conventional bunker fuel and liquefied natural gas (LNG) bunker fuel, providing a standardized estimate of the cost of moving a tanker on a given route, reports Yahoo.

This marks the first-ever comprehensive offering of base rates incorporating alternative fuel pricing and it complements Platts’ pre-existing, well-established suite of voyage and time-charter tanker freight assessments.

Platts Base Rates

Platts Base Rates can be applied to calculate tanker freight rates based on “Points” and dollars per ton, as well as various product netback and net forward assessments, along with crude oil yield and netback prices.

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Source: Yahoo