SUBSCRIBER NOTE: Platts updates Europe gasoil, diesel barge methodology

Platts has updated its gasoil and diesel barge assessment methodology to further standardize bids and offers published in the Market on Close assessment process. The change takes effect Friday 2 January, 2015.

VOLUMES: In diesel and 0.1% gasoil, Platts reflects bids and offers of 1,000-3,000 mt, amended from the previous 1,000-5,000 mt range. Fixed volume bids and offers and volumes other than 1,000-3,000 mt are no longer reflected. Buyers retain the right to nominate a volume when expressing an intention to lift an offer, and likewise when a seller expresses interest in a published bid. In 50 ppm gasoil, Platts assessments also reflect 1,000-3,000 mt.

LOADING DATES: In diesel and 0.1% gasoil, Platts publishes bids and offers for fixed laycans of five days each -- the front, middle and back end dates reflected in its assessments. Previously, any laycan within the 3-15 days (Monday-Tuesday) or 5-15 days (Wednesday-Friday) assessment period could be bid or offered. A buyer retains the right to nominate a barge loading on one specific day within the five-day laycan agreed at time of trade, following the end of the MOC process. Platts' 50 ppm gasoil barge assessment also reflects fixed loading periods of five days each -- front, middle and back end dates.

LOADING PORTS: Platts has not modified the loading ports reflected in its 0.1% gasoil and diesel barge assessments. These ports include Flushing, Amsterdam, Rotterdam, Antwerp and Ghent. However, for 0.1% gasoil and diesel barges, Platts only publishes bids and offers for Amsterdam-Rotterdam-Antwerp and also Flushing-Ghent. The assessment is normalized back to Amsterdam-Rotterdam-Antwerp.

Platts welcomes any further comments and queries to europe_products@platts.com and pricegroup@platts.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.