Platts has updated European fuel oil & feedstocks 2025 netbacks formulas

Platts, part of S&P Global Commodity Insights, has updated the formulas to derive its netback and net forward assessments to reflect 2025 Worldscale rates.

The changes to the formulas are effective Jan. 2 for the following assessments:

High sulfur fuel oil

The flat rate used to calculate FOB NWE HSFO cargoes (PUABB00) as a freight netback from CIF NWE HSFO cargoes (basis Rotterdam) is $6.67/mt.

The flat rate used to calculate FOB Mediterranean HSFO cargoes (PUAAZ00) as a freight netback from CIF Mediterranean HSFO cargoes is $7.80/mt.

The Rotterdam harbor dues is $1.12/mt.

Low sulfur fuel oil

The flat rate used to calculate CIF NWE LSFO cargoes (PUAAL00) as a freight net forward from FOB NWE LSFO cargoes is $7.67/mt.

The flat rate used to calculate CIF Mediterranean LSFO cargoes (PUAAJ00) as a freight net forward from FOB NWE LSFO cargoes, in the absence of other daily bid/offer/trades information, is $14.49/mt.

The flat rate used to calculate FOB Mediterranean LSFO cargoes (PUAAK00) as a freight netback from CIF Mediterranean LSFO cargoes is $8.00/mt.

Marine fuel

The flat rate used to calculate FOB Mediterranean Marine Fuel 0.5% cargoes (MFFMM00) as a freight netback from CIF Mediterranean Marine Fuel 0.5% cargoes is $6.94/mt.

Fuel oil feedstocks

The flat rate used to calculate FOB NWE VGO cargoes (AAHMX00 and AAHNB00) as a freight netback from CIF NWE VGO cargoes is $5.04/mt.

Please note that spot market bids/offers/trades may, where relevant, also be taken into account when assessing FOB NWE VGO cargoes.

The flat rate used to calculate FOB Mediterranean VGO cargoes (ABBAD00 and ABBAC00) as a freight netback from CIF Mediterranean cargoes is $5.08/mt.

The Rotterdam harbor dues is $1.12/mt.

Also effective Jan. 2, Platts has updated netback routes for European vacuum gasoil cargoes on Jan. 2 to reflect a change in trade flows following European sanctions on Russian-origin oil products. This was announced on a Nov. 8 subscriber note here: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/110824-platts-to-change-european-vgo-netback-routes-assessment-names-jan-2.

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