Platts updates language around basis and location of its JKM assessment

Platts, part of S&P Global Commodity Insights, has updated the language around the basis and location of its daily JKM assessment, aligning with market conventions, effective Jan. 16, 2025.

Buyers of spot LNG cargoes for deliveries into North Asia typically have the option to nominate a discharge port in Japan, South Korea, China or Taiwan. Bids, offers, and trades published in the Platts Market on Close assessment process with this standard option are not subject to normalization.

For clarity, Platts has updated the language around the basis and location of its JKM assessment to the following:

Basis and Location: cargoes delivered ex-ship (DES) to ports in Japan, South Korea, China and Taiwan that can receive a minimum cargo size of 135,000 cu m.

Furthermore, Platts has discontinued the daily symbol AAPSC00 LNG Freight Japan/Korea vs Taiwan/China 16:30 and its monthly average, AAPSC03.

These symbols have been assessed at a value of zero since September 2015.

Platts informed the market of the change and discontinuation Nov. 7 here,(opens in a new tab) after a proposal Oct. 10 here(opens in a new tab).

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