03 Jan 2023 | 11:47 UTC

Platts updates 2023 European Jet, USLD and Gasoil netback and net-forward assessment formulae

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.