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03 Jan 2023 | 11:47 UTC
Platts, part of S&P Global Commodity Insights, has updated the formulae to derive its netback and net-forward assessments to reflect updated Worldscale freight rates for 2023.
The updates, effective Jan. 3, 2023, are across the following Platts price assessments for the Europe and Africa region.
Please note that Platts advised of the changes to the applied netback and net-forward baskets for its European gasoil and diesel assessments in a proposal note published Sept. 30, 2022, and a subsequent decision note published Oct. 31, 2022. The proposal note can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/093022-platts-proposes-to-change-european-ulsd-gasoil-netback-and-net-forward-freight-baskets-jan-3-2023 and the decision note can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/103122-platts-to-change-european-ulsd-gasoil-netback-and-net-forward-freight-baskets-jan-3-2023
Effective Jan. 3, 2023, the following formulae apply:
Diesel
Assessment Name
2023 netback/net-forward formula
ULSD 10ppmS FOB NWE Cargo (AAVBF00)
$5.55/mt
ULSD 10ppmS FOB NWE Basis Le Havre Cargo (AAWZD00)
$6.75/mt
Diesel 10ppm UK Cargoes CIF NWE - Original (French) Spec (AUKDA00)
$2.71/mt
ULSD 10ppmS CIF NWE basis Le Havre cargoes (AAWZC00)
$1.15/mt
ULSD 10ppmS FOB Med Cargo (AAWYY00)
$7.80/mt
Gasoil
Assessment Name
2023 netback/net-forward formula
Gasoil 0.1%S FOB NWE Cargo (AAYWR00)
$7.84/mt
Gasoil 0.1%S FOB Med Cargo (AAVJI00)
$7.26/mt
Jet Fuel
Assessment Name
2023 netback/net-forward formula
Jet FOB Med Cargo (AAIDL00)
2023 WS rate for Augusta-Rotterdam
Please send any questions or comments to Europe_products@spglobal.com with a cc to pricegroup@spglobal.com.