CommodityScope Dirty Tanker Freight Methodology

1. Scope

This document records Dirty 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 dirty tanker freight series published under it. 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. Clean tanker freight, dry freight, voyage TCE and Crude Delivered Cost remain under their own methodologies.

Dirty tanker freight assessments

Indicative Assessments for defined dirty 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. The published unit is typically USD/mt.

Cape routing variants and barge series

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

Demurrage and Straits supporting series

Dirty demurrage series and Turkish Straits delay series published under this family remain supporting series. They are not USD/mt route assessments.

Modelled and other series published under this family

Fuel-oil product freight and carbon emission-charge 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 dirty tanker voyage freight assessments.

Outside this family

Clean tanker freight, including LPG freight, 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 Dirty Tanker 1.0 Is

Dirty 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.

Each series is assessed on its stated route, vessel, cargo and unit basis.

3. Series Basis

Each published Dirty 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, 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. Dirty Tanker 1.0 does not infer a vessel class, cargo or destination where that characteristic is not part of the published basis.

4. Assessment Midpoint

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

Dirty 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 dirty 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. Dirty 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 barge assessments are typically USD/mt. Demurrage is typically USD/day. Straits delay is typically days. Product freight published under this family keeps its published unit.

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.

6. Assessment Range

Dirty Tanker 1.0 constructs a CommodityScope range around the midpoint and stores it with the snapshot. 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 dirty tanker route or barge 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, carbon, shadow, demurrage and Straits 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 Dirty Tanker 1.0. It is not a statistical probability or a reliability score.

Dirty 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 dirty tanker pages are computed statistics over that history. Dirty Tanker 1.0 does not rewrite a published date to auto-correct an anomaly.

8. Liquidity Profile, Tick and Cadence

Each series has a Dirty 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; delay series in days snap to 0.1. Published range bounds are snapped to that tick. The midpoint remains the validated freight market level and is not re-snapped under this methodology.

Dirty 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. Dirty Tanker 1.0 does not use related series as midpoint inputs.

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

10. Demurrage and Straits Series

Dirty 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.

Turkish Straits delay series are published in days. They are not freight rates. Singapore dirty demurrage is a distinct series from Turkish Straits demurrage.

These supporting series remain separate from dirty tanker route assessments. Use of a published Straits or demurrage snapshot as a Crude Delivered Cost route-cost input belongs to that model methodology, not to this document.

11. Downstream Use in Crude Delivered Cost

Crude Delivered Cost is not part of Dirty Tanker Freight Methodology.

Published dirty tanker snapshots may be read as same-date inputs by the Crude Delivered Cost model, including the constructed freight range where written. That model also uses published crude assessments and, where mapped, Straits delay and applicable Straits demurrage snapshots.

A change to Dirty Tanker methodology that changes a published freight numeric is a Dirty Tanker methodology change. It is not a Crude Delivered Cost methodology by itself. The reverse is also true: a change to the delivered-cost model must not be described as a Dirty Tanker freight assessment change.

12. Publication Boundary

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

13. Important Notice

Dirty 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.