European Middle Distillate rationales for January 8, 2020

Please note that the following European middle distillate rationales for January 8, 2020, should have read as follows appearing on the pages below on Platts Global Alert:

PGA page 1428:

The FOB ARA 0.1% gasoil barges assessment was derived on the basis of the following inputs, expressed at a differential to the front-month ICE LSGO futures contract: January 18 was assessed at minus $12.25/mt, based on an outstanding offer and January 21 was assessed at minus $12/mt based on trades at that same level.

PGA page 1472:

ULSD 10ppmS CIF NWE Basis UK Cargo AAVBH00 assessment rationale:

The CIF UK diesel cargo assessment was derived as a freight net forward from the CIF Northwest Europe (ARA) diesel cargo assessment, using the following assessments: CIF NWE (ARA) diesel cargo assessment plus the cost of transporting a 30,000 mt clean cargo from a basket of ports in the Baltic to a basket of UK ports.

ULSD 10ppmS CIF NWE Basis Le Havre Cargo AAWZC00 assessment rationale:

The CIF Northwest Europe (Le Havre) diesel cargo assessment was derived as a freight net forward from the CIF NWE (ARA) diesel cargo assessment, using the following assessments: CIF NWE (ARA) diesel cargo assessment plus the cost of transporting a 30,000 mt clean cargo from a basket of ports in the Baltic to Le Havre, France.

ULSD 10ppmS CIF NWE Cargo AAVBG00 assessment rationale:

The CIF NWE diesel was based on the following input, expressed as differential to the front-month ICE LSGO futures contract:

Value on January 25 was assessed at $3.92/mt, factoring an outstanding bid for January 23-27 delivery in the Platts MOC;

A contango of around 2 cents/day was applied to the physical curve, in line with the paper structure.

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