New assessment for Asia fuel-grade ethanol proposed

Following discussions with the industry, Platts proposes to introduce a daily Asian fuel-grade ethanol price assessment for blending into gasoline, comprising a spot assessment basis CIF Philippines.

The assessment is for fuel/anhydrous grade ethanol and will conform to the Philippines National Standard (DPNS/DOE QS 007:2005) specifications for use as a blending component for unleaded gasoline.

Prices will be published in US dollars per cubic meter, for delivery CIF Philippines, 45-60 days forward from the date of publication.

All fuel/anhydrous grade ethanol are to be normalized to a base standard of 1,000-3,000 cubic meters in cargo size, at a temperature of 20 degrees Celsius with L/C at sight up to 30 days payment terms. All other grades, cargo sizes and payment terms will be normalized to this standard using prevailing market values.

Price assessments will reflect the close of Asia markets time stamped at 4:30 pm Singapore time (0830 GMT).

This new assessment will be published in the Platts Petrochemical Alert, and Asian Petrochemicalscan.

Please send any queries or comments to Michelle Ho at Michelle_Ho@platts.com, Chua Sok Peng at sok_peng_chua@platts.com, Ihsan Rahim at ihsan_rahim@platts.com, and Shahrin Ismaiyatim at shahrin@platts.com by February 14, 2011, with a cc to pricegroup@platts.com.