Platts to publish Asia-origin bids of CFR TNDJ+Jiaxing in paraxylene CFR Taiwan/China MOC

Following the inclusion of Jiaxing port in the paraxylene CFR Taiwan/China MOC, S&P Global Platts has started considering and publishing Asia-origin bids, which give buyers optionality to receive the cargo in Jiaxing or in any of the four par ports (TNDJ+Jiaxing).

Platts is already publishing standalone bids into Jiaxing port, where buyers must clearly state the discharge port as Jiaxing at the time of communicating their interest to Platts for publication.

Bids or trades into Jiaxing Port may be normalized to the standard. Platts has included Jiaxing port in East China as a non-par delivery port in the paraxylene CFR Taiwan/China Platts Market on Close (MOC) assessment process from Jan. 3, 2022 with a launch subscriber note published Jan. 3 at https://bit.ly/3KFeYXC.

OFFERS: Platts does not publish standalone offers into Jiaxing as these are considered of a restrictive nature. However, Platts does consider and publish offers, which give buyers optionality to receive the cargo in Jiaxing or in any of the four par ports (TNDJ+Jiaxing). Such offers and trades may be normalized to the standard.

PAR AND NON-PAR PORTS: Pricing information pertinent specifically to deliveries into Jiaxing port may be normalized to reflect value at par ports. Standard Taiwan ports, Ningbo, Dalian and Jiangyin, which Platts considers par ports, will remain the basis for the Platts CFR Taiwan/China PX assessment. Non-par ports are typically considered to be those with logistical constraints to handle a fully-laden MR-size shipment. Jiaxing port has a maximum draft of 9.6 meters.

TNDJ TRADES: For trades reported within the Platts Market on Close process on CFR Taiwan/China basis, buyers may not unilaterally declare Jiaxing as a discharge port. However, Jiaxing may be requested and mutually agreed and such requests may not be unreasonably withheld.

SUBSTITUTION: Platts expects parties to be reasonable when exceptional circumstances require sellers to substitute vessels or buyers to substitute terminals after the respective nomination deadlines. Buyers should not unreasonably withhold vessel substitutions or hamper the established discharge process. If the substituted vessel tendered the notice of readiness in time for discharge, buyers should not put sellers on best endeavor basis.

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