Platts launches a New York Harbor Intertank Transfer ethanol assessment

Platts, part of S&P Global Commodity Insights, has launched a daily New York Harbor Intertank Transfer (ITT) ethanol assessment, effective Feb. 1, 2023. This assessment provides transparency to the pricing of ethanol at the Sewaren terminal in New York Harbor and is in addition to the current New York Harbor FOB barge assessment.

The assessment reflects volumes of a minimum of 5,000 barrels traded with a transfer date five to 15 days forward from the day of publication.

The NYH ITT daily assessment is listed under the Platts symbol ANYHA00 and is published in the Biofuelscan and Fuel Ethanol report. It also is published on Platts Biofuel Alert pages PB0010 and PB0012, and on the Platts Dimensions Pro platform. The monthly average price is published under symbol ANYHA03 and appears on Platts Biofuel Alert pages PB0210 and PB0212.

Offtake options

Buyer has the option to take delivery of the product in a method other than by ITT at the Sewaren terminal such as by barge. All incremental costs associated with the chosen offtake option would be borne by the buyer. A seller should not unreasonably withhold any offtake option. Platts considers LEAP terms standard in the New York Harbor ethanol market.

Nomination guidelines

In the ITT market, the buyer retains the option to nominate the transfer date within a five- to 15-day forward range; this nomination should take place at least one calendar day in advance of the transfer date.

For all nominations, there will be an end-of-day time cut-off of 15:00 (16:00 ET). Any nomination provided after this time would be considered as being for the next day.

RINs transfer

For transactions in this market, if ownership of the physical product transfers between Jan. 1 and Jan. 31 it would be the sellers option to transfer current or prior-year RINs. Transfers after Jan. 31 for the rest of the calendar year must carry current-year RINs. The physical ethanol transfer date determines what RIN vintage may be attached, not the trade date.

Please send all feedback and questions to americas_ags@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.