SUBSCRIBER NOTE: Platts extends Asia MTBE assessment to FOB Straits

S&P Global Platts has amended the load points reflected in the Market on Close assessment process for its FOB Singapore assessments for MTBE to encompass terminals beyond Singapore's borders but in close geographical proximity to Singapore.

This extends the permissible ports of loading to cover the entire Singapore Straits area, including existing ports of Tanjung Langsat, Tanjung Bin and Pasir Gudang in Johor, Malaysia, effective from January 5, 2018.

In line with Platts existing gasoline assessments, Platts will not amend the nomenclature of its published FOB Singapore assessments and will continue to reference these assessments in all publications under the name of "FOB Singapore".

This change in methodology follows an extensive consultation with the market following feedback that the Singapore refined oil products markets have grown significantly in the last several years. The associated spot markets now regularly include trades for commodities loading close to, but beyond the geographic borders of, Singapore.

The affected code for the markers in the Platts database is PHALF11 for FOB Singapore.

Please direct any questions or comments to petchems@spglobal.com with a copy to pricemethodology@spglobal.com.

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