Platts to launch daily CFR SE Asia, CFR Singapore ammonia assessments, amend CFR Far East ammonia assessments March 24

Platts, part of S&P Global Commodity Insights, will launch daily spot CFR Southeast Asia and CFR Singapore ammonia assessments, effective March 24.

The CFR Singapore assessment will provide a useful reference for the burgeoning market for new uses of ammonia in the country, while the CFR Southeast Asia ammonia assessment will allow Platts to shed greater light on the dynamics of the spot market for ammonia in countries such as Vietnam, Thailand, Indonesia and the Philippines.

Simultaneously, Platts will narrow the location specifications of its daily and weekly CFR Far East ammonia assessments to Mainland China, Taiwan, South Korea and Japan and remove Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Specifications for the CFR Southeast Asia and CFR Singapore assessments are detailed below:

Assessment name: Ammonia CFR Southeast Asia

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: Basis 3,500-6,000 mt, with relevant price information normalized to this point

Basis and location: Spot cargoes only. Basis location Haiphong, Vietnam. Price information relating to other ports in Vietnam, Thailand, the Philippines, Indonesia, Malaysia and Singapore may be considered and normalized, where necessary, to basis Haiphong

Timing: Delivery one to six weeks forward

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

Assessment name: Ammonia CFR Singapore

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: Basis 3,000-4,000 mt, with relevant price information normalized to this point

Basis and location: Spot cargoes only. Basis location Singapore. Price information relating to other ports in Southeast Asia may be considered and normalized, where necessary, to basis Singapore

Timing: Delivery one to six weeks forward

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

The location specifications of the daily and weekly CFR Far East ammonia assessments will be narrowed and the specifications for those assessments will subsequently read as follows:

Assessment name: Ammonia CFR Far East -- daily (FAFAA00)

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: 6,000-15,000 mt

Basis and location: Spot cargoes only. Ammonia-importing ports/terminals in Mainland China, Taiwan, South Korea and Japan

Timing: Delivery one to six weeks forward

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

Assessment name: Ammonia CFR Far East -- weekly (FAFAA04)

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around minus33 degrees Celsius, with no restrictions on carbon intensity

Quantity: Minimum 4,000 mt

Basis and location: Spot and contract. Ammonia-importing ports/terminals in Mainland China, Taiwan, South Korea and Japan

Timing: Delivery one to six weeks forward

Frequency: Weekly

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

The daily CFR Southeast Asia and CFR Singapore assessments will appear in the Platts Fertecon Daily publication, the Ammonia Market Report each Thursday, and will also be available via Platts Connect.

The adjusted weekly CFR Far East assessment will continue to appear in the Ammonia Market Report publication and be available via Platts Connect, while the daily CFR Far East assessment will continue to appear in the Platts Fertecon Daily PDF and be available via Platts Connect.

This decision follows a proposal note published here on Feb.10.

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