SUBSCRIBER NOTE: Standard load points for Japan waterborne transactions

Following market feedback, Platts has conducted a review of load points reflected in its Japan domestic waterborne oil products assessments and is now publishing a list of acceptable load points for trades reported through the Japan Market on Close assessment process, effective February 13, 2017.

Platts assessments for gasoline 89 RON, gasoil 10 ppm, kerosene, LSAFO and HSAFO reflect loadings from standard ports in each of three locations: Tokyo Bay, Hanshin and Chukyo. Platts is now publishing a list of terminals that are considered standard, and which may be nominated by sellers for performance on trades reported through the MOC.

For Japan waterborne transactions, buyers must give reasonable notice of the intended loading date and provide necessary barge details in line with standard industry practice and the seller must respond in a timely manner with barge acceptance and nomination of the load point.

Platts will consider oil products on barges loading from the following refineries and oil terminals in the assessment process:

Tokyo Bay Refineries: Cosmo Oil Chiba Refinery, TonenGeneral Chiba Refinery, Idemitsu Chiba Refinery, Fuji Oil's Sodegaura Refinery, TonenGeneral Kawasaki Refinery, Toa Oil Keihin Refinery, and JX Negishi Refinery. Oil terminals: Marubeni Ennex's Chiba oil tank terminal, Daitoh Tank Terminal's Yokohama oil tank facility, Hashimoto Sangyo's Yokohama oil tank facility, Showa Shell Sekiyu's East Ohgishima Oil Terminal (EOT), and Showa Shell Sekiyu's Yokohama Jigyosho.

Hanshin Refineries: TonenGeneral Sakai Refinery, TonenGeneral Wakayama Refinery, JX Osaka Refinery, and Cosmo Oil Sakai Refinery, Oil terminals: Marubeni Ennex's Sakai Terminal, Nakagawa Bussan's Osaka Sakurajima Oil Tank, and Sakurajima Futo's Oil Tank.

Chukyo Refineries: Showa Shell Yokkaichi Refinery, Idemitsu Kosan Aichi Refinery, and Cosmo Oil Yokkaichi Refinery. Oil terminals: Kanematsu Yuso's Nagoya Oil Tank, Marunaka Kosan's Nagoya Oil Tank, Nakagawa Bussan's Nagoya No. 2 Oil Tank, and Marubeni Ennex's Nagoya Terminal.

EX-REFINERY: Platts publishes bids, offers and transactions for the above markets that reflect a buyer's willingness to load from any of the terminals in each location. Platts also publishes bids, offers and transactions that specify "ex-refinery", and for which buyers commit only to load from the refinery locations specified above. Platts final assessments reflect open location transactions, and ex-refinery bids, offers and trades may be normalized to this standard for assessment purposes.

REVIEWS OF MOC TERMINALS AND TRADE DATA: It is critical for Platts to monitor the quality of the information submitted by companies wishing to participate in Platts MOC processes, including any infrastructure that will form part of the execution of that information.

Platts routinely, and as part of standard editorial practice, reviews the infrastructure reflected in its price assessment processes. These reviews ensure the suitability of data and information that are used to formulate Platts' end-of-day price assessments.

These reviews are conducted on a regular basis, and may take into consideration an array of issues including, but not limited to, operational and logistical issues, as well as counterparty acceptance.

The reviews are not designed to impede a company's ability to bilaterally engage in market transactions; the objective at all times is to ensure the integrity of published price assessments. Platts does not disclose the nature or scope of such routine reviews.

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