CommodityScope Clean Tanker Freight Methodology

1. Scope

This document records Clean Tanker Freight Methodology version 1.0 as applied to published assessments. It does not retrospectively assign a new effective date to earlier publications. Parent document: CommodityScope Assessment & Publication Framework (/methodology/core).

This methodology covers clean tanker freight series published under it, including LPG freight. Family membership and publication type are separate. The series specification, where issued, states the publication class of the named series. A change to this methodology applies from its effective date to series governed by this document. Dirty tanker freight, dry freight, voyage TCE and Crude Delivered Cost remain under their own methodologies.

Clean tanker freight assessments

Indicative Assessments for defined clean tanker trade lanes. Each series has an origin, a destination, a vessel class where stated, a cargo size where stated, and a cargo basis where stated. Typical published vessel classes are MR, LR1 and LR2. The published unit is typically USD/mt.

LPG freight

LPG freight series published under this family remain LPG series. They are not converted into clean petroleum-product tanker assessments. A defined cargo-size or gas-carrier size range may be the published basis where a vessel class is not stated.

Cape routing variants

Cape of Good Hope routing variants remain separate series from the main-lane vessel-class assessment. Publication under this methodology does not convert those series into one another.

Demurrage supporting series

Clean demurrage series published under this family remain supporting series. They are not USD/mt route assessments.

Modelled and other series published under this family

Clean product freight series published under this family are CommodityScope Modelled Indicators. Implied shadow-fleet series remain separate series. Publication under this methodology does not convert those series into clean tanker voyage freight assessments.

Outside this family

Dirty tanker freight, dirty fuel-oil barges, Turkish Straits delay series, dry bulk and fertilizer freight, CommodityScope voyage TCE, CommodityScope tanker freight indices, third-party TCE, oil physical assessments and Crude Delivered Cost remain in their own families or model methodologies.

2. What Clean Tanker 1.0 Is

Clean Tanker 1.0 publishes a validated series-level freight midpoint in the stated market basis and constructs a separate CommodityScope Assessment Range around that level.

Clean Tanker 1.0 evaluates each series on its stated route, vessel, cargo and unit basis and publishes a validated midpoint with a separately constructed CommodityScope range. An LPG series is evaluated on its LPG basis. An MR, LR1 or LR2 series is evaluated on that vessel-class basis.

3. Series Basis

Each published Clean Tanker series is identified by its trade lane and by the characteristics that belong to that series:

• origin;
• destination;
• vessel class, where stated;
• cargo size or size range, where stated;
• cargo basis, where stated;
• published unit.

Each vessel class, cargo basis and routing variant is maintained as a separate series. Grouping several series on one lane page does not blend their values or make their bases interchangeable. Clean Tanker 1.0 does not infer a vessel class, gas-carrier class, cargo or destination where that characteristic is not part of the published basis.

4. Assessment Midpoint

For a clean tanker freight series, the Assessment Midpoint is the validated freight level assigned to the defined series basis, published unit and assessment date.

Clean Tanker 1.0 does not replace that midpoint through Worldscale conversion, related-lane blending, previous-assessment carry or vessel-class interpolation. Related series, previous assessments and range construction do not move the midpoint.

That midpoint is determined under this family methodology for the defined series basis. Validation, publication and range construction are performed under CommodityScope methodology. A clean tanker route series remains a CommodityScope Indicative Assessment, or the publication class stated for that series.

5. Worldscale, Lumpsum and Published Unit

A Worldscale or lumpsum quotation may be available alongside a USD/mt observation for the same series. Clean Tanker 1.0 does not convert Worldscale points, lumpsum figures or USD per day into USD/mt.

The published CommodityScope midpoint is the validated freight market level in the published unit of the series. Route, Cape and LPG assessments are typically USD/mt. Demurrage is typically USD/day. Product freight published under this family keeps its published unit, which may be USD/bbl or USD/mt.

Worldscale and lumpsum observations retain their original quoting basis and are not converted into or relabelled as the CommodityScope USD/mt Assessment Midpoint under methodology version 1.0. Product freight published in USD/bbl is not converted into USD/mt.

6. Assessment Range

Clean Tanker 1.0 constructs a CommodityScope Assessment Range around the midpoint. The range is CommodityScope’s estimate of uncertainty around that assessed level.

The range is not the day’s fixture high and low, a Worldscale band, a quoted bid/offer spread, an executable trading range, or the 30-day observed minimum and maximum of published midpoints.

Range construction currently supplies the previous published assessment, historical volatility of the CommodityScope midpoint series, the series liquidity profile, confidence scaling and tick snapping. Where another clean tanker route or LPG series shares the same published trade lane and has a same-date USD/mt observation, that observation may also enter range construction. Those values do not move the midpoint, do not convert one vessel class into another, and do not normalize one trade lane to another. Cape, shadow, demurrage and product-freight series are not supplied as related range inputs.

A Confidence Classification of High, Medium or Low is stored with that construction. Confidence describes the support available to the range-construction process under Clean Tanker 1.0. It is not a statistical probability or a reliability score.

Clean tanker freight pages currently present a 30-day observed minimum and maximum of published midpoints. That observed range is a computed statistic. It is not the CommodityScope Assessment Range, and Confidence Classification is not currently presented as a separate public product on those pages.

A change to published low or high is a methodology change even if the midpoint is unchanged.

7. Previous Assessment and History

The previous published assessment of the same series may enter range construction. It does not replace the current midpoint and it is not carried forward as a substitute where no new series-level market observation exists for the date.

Published assessments retain their original date and methodology version. Corrections preserve the audit history. Consecutive-available-date changes on clean tanker pages are computed statistics over that history. Clean Tanker 1.0 does not rewrite a published date to auto-correct an anomaly.

8. Liquidity Profile, Tick and Cadence

Each series has a Clean Tanker 1.0 liquidity profile used for range floors and scaling. The profile is family-owned. It is not a global market-quality score.

Tick size follows the published unit: USD/mt and USD/bbl snap to 0.01; USD/day snaps to 1. Published range bounds are snapped to that tick. The midpoint remains the validated freight market level and is not re-snapped under this methodology.

Clean tanker series use the daily family cadence profile. A new snapshot is published only for a qualifying observation date. Daily cadence does not imply that a new assessment must exist on every business or calendar day.

Cargo size, loading window and cutoff, where issued, are series-specification facts. They are not implied from this family methodology. The assessment date is the market date reflected by the snapshot. It is distinct from the time at which the value becomes available in CommodityScope systems.

9. Related Markets

Related series belong to the family methodology. Clean Tanker 1.0 does not use related series as midpoint inputs.

Same-date USD/mt observations of other clean tanker route or LPG series on the same published trade lane may support range construction only, as described in Section 6. Economically connected lanes, Cape variants, dirty tanker freight and voyage TCE results may be reviewed as market context. They do not enter the Clean Tanker 1.0 midpoint.

10. LPG Freight Series

LPG freight series published under this family are Indicative Assessments of LPG voyage freight on the stated origin, destination and size basis. They are not clean petroleum-product tanker assessments and they are not converted from MR, LR1 or LR2 freight.

Where the published basis is a cargo-size or gas-carrier size range rather than a named vessel class, Clean Tanker 1.0 does not infer a specific gas-carrier class.

LPG series remain separate from clean tanker route assessments even where both appear in the same freight section of the site.

11. Demurrage Series

Clean demurrage series published under this family are indicative delay-cost levels under the stated vessel class and market. They are not confirmed fixtures, contractual demurrage, charter-party terms, or an adjustment applied to the USD/mt route midpoint.

Singapore clean demurrage is a distinct series from Singapore dirty demurrage. Clean Tanker 1.0 does not publish Turkish Straits delay series.

12. Downstream Use in Voyage TCE

Voyage TCE is not part of Clean Tanker Freight Methodology.

Published clean tanker snapshots may be read as same-date inputs by the CommodityScope voyage TCE model. That model remains a separate methodology.

A change to Clean Tanker methodology that changes a published freight numeric is a Clean Tanker methodology change. It is not a TCE methodology by itself. The reverse is also true: a change to the voyage TCE model must not be described as a Clean Tanker freight assessment change.

Crude Delivered Cost reads dirty tanker freight, not this family. It is not part of Clean Tanker Freight Methodology.

13. Publication Boundary

Worldscale non-conversion, vessel-class and gas-carrier non-inference, LPG series identity and same-lane range support are publication rules of this methodology. They are not applied to dirty tanker freight, dry freight, oil products, grain, fertilizers, voyage TCE or Crude Delivered Cost.

14. Important Notice

Clean tanker values published under this methodology are CommodityScope Indicative Assessments or the publication class stated for the series. They are analytical estimates for market-intelligence purposes, not bids, offers, fixtures, executable quotations or contractual settlement values, and they are not represented as a regulated benchmark.

Use is subject to the CommodityScope Assessment & Publication Framework and the CommodityScope Terms of Service.