Platts clarifies CFR South Africa 500 ppm gasoil assessment methodology

Platts, part of S&P Global Commodity Insights, would like to clarify the netforward methodology for its gasoil 500 ppm CFR South Africa assessment.

Since its launch on Aug. 1, 2018, the Platts gasoil 500 ppm CFR South Africa assessment (AAQWV00) has been derived by applying the FOB AG Gasoil 500 ppm premium/discount to the MOPAG Gasoil Strip, and then adding the Platts Arab Gulf-South Africa 35,000 mt clean tanker freight assessment value.

Following the launch of the outright price assessment for gasoil 500 ppm FOB Fujairah on Nov. 1, 2022, Platts will now derive the value of its gasoil 500 ppm CFR South Africa assessment by adding the AG-South Africa 35,000 mt clean tanker assessment value (TCASW00) to this new gasoil 500 ppm FOB Fujairah outright assessment (AFUJN00).

This merely simplifies the netforward calculation for clarity, and there is no change in the value of the gasoil 500 ppm CFR South Africa assessment, as the gasoil 500 ppm FOB Fujairah outright assessment reflects the value of the FOB AG Gasoil 500 ppm spot differential plus the MOPAG Gasoil Strip.

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