SUBSCRIBER NOTE: Platts modifies freight calculation for North Sea CIF Rotterdam crude assessments

S&P Global Platts has modified the calculation of its CIF Rotterdam suite of North Sea crude assessments following feedback from market participants.

In order to ensure a freight rate that better reflects market standards, Platts has amended its calculation to guard against double-counting of the Rotterdam port fee within these calculations.

Other aspects of the net-forward calculation, including the freight rates used, and the indicative number of days voyage included in the net-forward, will remain unchanged.

This change affects North Sea CIF assessments for all grades typically traded as FOB, including Troll, Oseberg, Ekofisk, Forties, Brent Blend and CIF Rotterdam Dated Brent.

As part of the development of the suite of indicative CIF Rotterdam North Sea crude oil prices, Platts continues to solicit feedback about the calculation methodology, including, but not limited to, the freight net-forward component.

Please send all comments to europe_crude@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 upon request.