Platts amends basket of ports for FOB Med ULSD cargoes netback

S&P Global Platts has amended the basket of ports it uses to assess FOB Mediterranean ultra low sulfur diesel cargoes by replacing the Black Sea port of Batumi with the Black Sea port of Novorossiisk from Jan. 4, 2021.

The change follows on from feedback received during the proposal and consultation period around prevailing flows of diesel in the Mediterranean. The proposal note, published on May 26, can be found here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/052620-platts-proposes-to-amend-basket-of-ports-for-fob-med-ulsd-netback

Platts derives its 10 ppm ULSD FOB Med cargo assessment (Code: AAWYY00) by applying a freight netback to the 10 ppm ULSD CIF Med cargo assessment (AAWYZ00).

From Jan. 4, the calculation will be based on the following routes in the Mediterranean: Santa Panagia, Aliaga, Agioi Theodoroi and Novorossiisk to Genoa and Lavera using the daily freight rates published in the Platts Clean Tankerwire for Med-Med 30,000 mt cargoes.

The voyages are calculated with the applicable Worldscale flat rates by using the daily freight rate assessments for clean Handysize cross-Med and Black Sea-Med routes published in Clean Tankerwire.

The 10 ppm ULSD CIF Med cargo assessment is published in Platts European Marketscan and Oilgram Price Report; on Platts Global Alert pages 1400, 1420 and 1422; and in the Platts pricing database under code AAWYZ00.

The 10 ppm ULSD FOB Med cargo assessment is published in Platts European Marketscan and Oilgram Price Report; on Platts Global Alert pages 1400, 1420 and 1422; and in the Platts pricing database under code AAWYY00.

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