SUBSCRIBER NOTE: Platts launches CIF Morocco ex-USGC butane assessment

To better reflect a shift in European LPG market fundamentals, S&P Global Platts has launched a CIF Morocco ex-USGC butane assessment effective Monday, February 24, 2020.

The launch follows a growth of US imports into Morocco and aligns with observed cargo flows into the region.

Platts understands that the largest source of butane into Morocco in 2019 was from the US Gulf Coast, with the bulk of the remainder sourced from the Mediterranean and Northwest Europe.

This assessment (Code: ABTMA00) reflects a specification in line with the Platts Mont Belvieu, Texas, butane assessment.

It reflects refrigerated cargoes with a minimum size of 44,000 mt for delivery 45-60 days from the date of publication, with value reflecting the mean of the delivery period, into Mohammedia, Morocco.

The assessment will be calculated by on a freight net-forward using the Mont Belvieu non-LST butane assessment (Code: AAWUF00), a US Gulf Coast FOB waterborne premium (Code: AAXIO00), freight between Houston and Mohammedia, Morocco, and a price normalization between the Houston and London Market on Close assessment process timestamps.

The Houston-Mohammedia freight component incorporates the Houston-Flushing freight assessment (Code: AAXIQ00).

The assessment appears in Platts LPGaswire, and on fixed pages PGL 1775, PGL 1776, PGL 1777, PCA 1775, PCA 1776 and PCA 1777.

Please send all questions and comments to oilgroup@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.