Platts to update European SAF assessment methodology; update SAF assessment names

Platts, part of S&P Global Commodity Insights, will update the assessment process for its CIF Northwest Europe cargo Sustainable Aviation Fuel assessments and FOB FARAG barge Sustainable Aviation Fuel assessments, effective March. 24, 2025

Platts will publish the SAF CIF NWE premium versus the Platts Jet CIF NWE Cargo assessed forward curve, rather than the CIF NWE cargo physical price (PJAAU00). The forward curve is calculated on the average of the loading or delivery window reflected in the assessment, also known as the strip. The strip is defined as the average of the forward values for the sequence of the 16 days for cargoes, reflecting 10-25 days forward, representing the future delivery dates reflected in Platts SAF assessment.

Platts will also publish the SAF FOB FARAG premium versus the Platts Jet FOB Rotterdam barge assessed forward curve, rather than the FOB Rotterdam barge physical assessment (PJABA00). The forward curve is calculated on the average of the loading window reflected in the assessment, also known as the strip. The strip is defined as the average of the forward values for the sequence of the 13/11 days for barges, reflecting 3/5-15 days forward, representing the future delivery dates reflected in Platts SAF barge assessment.

For example, the average of the 10-25 day forward strip, based on the M1 Jet swap and the M2 Jet swap was $731.80/mt on Jan. 3. Platts assessed the SAF CIF NWE premium at $1,270/mt. This would result in an assessed SAF CIF NWE cargo price of $2001.75/mt for Jan. 3.

Platts is also updating the names of the European Sustainable Aviation Fuel coverage, to clarify that the assessment reflects ASTM D7566 standard specification for Synthesized Paraffinic Kerosene from Hydroprocessed Esters and Fatty Acids (HEFA-SPK), as referenced in Annex A2.

Update to assessment names

Platts will update the name of its assessments from SAF CIF NWE to SAF (HEFA-SPK) CIF NWE cargo, abbreviated to SAF (H-S) CIF NWE cargo; and from SAF FOB FARAG to SAF (HEFA-SPK) FOB FARAG barge, abbreviated to SAF (H-S) FOB FARAG barge. The SAF FOB Straits assessment, which is calculated as a netback to the SAF CIF NWE cargo assessment, will be updated to SAF (H-S) FOB Straits.

The assessments impacted by the update, and a summary of the changes is as follows:

In addition, Platts will update the names of its SAF production cost assessments to reflect the feedstock and pathway. The following assessments are to be updated to:

Platts first proposed these changes on January 28, in a subscriber note available here: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/012825-platts-proposes-to-update-european-saf-assessment-methodology-update-saf-assessment-names

Platts will also increase the frequency of its European Sustainable Aviation Fuel Commentary from monthly to weekly. The weekly commentary will be published on Thursdays effective March 27 and published in Biofuelscan, European Marketscan and the Biomass-Based Diesel reports.

Please submit any feedback, comments, or questions to mrts_biofuelsandfeedstocks@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.