Platts, part of S&P Global Commodity Insights, proposes to launch new Suezmax 130,000-mt Guyana-UK Continent and Guyana-Mediterranean dirty tanker freight assessments, effective Dec. 1.

The new assessments would reflect the growing crude trade flow in Suezmax tankers from Guyana to Europe.

Total crude exports from Guyana to Europe surged 162% during the 2022-2024 period to 18.6 million mt from 7.1 million mt, data from S&P Global Commodities at Sea showed.

Guyanese crude exports on the Suezmax 130,000-mt USGC-UKC/Med route rose 122% to 13.2 million mt in 2024 from 5.9 million mt in 2022.

The surge in exports of Guyanese crude heading to Europe has been exacerbated by the changing trade flows resulting from the Russian invasion of Ukraine, as well as increased pressure from US tariffs, with European countries looking to supplement Russian Urals barrels with alternatives.

The new assessments for voyages to the UK and the Mediterranean would be published on a Worldscale basis and would be expressed as Worldscale points. Platts would also publish the equivalent US dollar per metric ton value for these assessments. The proposed assessments would have the following specifications:

WORLDSCALE GUYANA TO UK CONTINENT SUEZMAX:

• Route: Guyana to UK Continent for a Suezmax dirty tanker
• Cargo Size: 130,000 mt
• Basket of Ports: FPSO Prosperity-Rotterdam; FPSO Prosperity-Wilhelmshaven; and FPSO Liza Destiny-Rotterdam
• Timestamp: 1:30 CT
• Holiday Calendar: US

WORLDSCALE GUYANA TO MEDITERRANEAN SUEZMAX:

• Route: Guyana to Mediterranean for a Suezmax dirty tanker.
• Cargo Size: 130,000 mt.
• Basket of Ports: FPSO Liza Unity-Trieste; FPSO Prosperity-Castellon; and FPSO Liza Destiny-Trieste
• Timestamp: 1:30 CT
• Holiday Calendar: US

The proposed assessments would appear on Platts Global Alert pages 1972 and 1973; on Platts Shipping Alert pages 2440 and 2441; and in the Dirty Tankerwire.
Source: Platts