Platts to launch new Asia LPG assessment March 1

Following feedback to our November 23, 2009, subscriber note, Platts will move ahead with the proposed launch of new daily assessments for Asia LPG market to reflect the value of 22,000 mt refrigerated cargoes that are evenly split between propane and butane.

The new price assessment will be published from March 1, 2010.

The assessments will reflect the value of refrigerated cargoes for delivery to main ports between Singapore and Japan. Cargoes will be assessed for delivery in three half-monthly cycles of 30-45 days, 45-60 days and 60-75 days forward.

The assessments would roll forward on the first business day or the new month, and the first business day after the 15th of every month.

As an example, from March 1 until March 15, the assessments would be for H1 April, H2 April and H1 May -- representing 30-45 days, 45-60 days and 60-75 days forward on March 1 itself.

On March 16 (the first business day after the 15th), the assessment cycles would move forward by a half month to become H2 April, H1 May and H2 May. A CFR Singapore-Japan cargo assessment will additionally be produced by averaging the first two half-cycle assessments. The assessments will reflect a 22,000 mt cargo, carrying 11,000 mt of propane and 11,000 mt of butane.

The assessments will be published alongside Platts' existing LPG cargo assessments, on Platts Global Alert page 479, Petrochemicals Alert page 254, in LPGaswire, and in Platts' data services. A series of codes will be announced shortly.

Please send all additional comments and feedback to asia_lpg@platts.com and pricegroup@platts.com.