SUBSCRIBER NOTE: Platts to revise Asian PX CFR Taiwan/China ports, basis, credit terms

S&P Global Platts proposes that information around trading activity at berths in ports with specific restrictions and/or implied optionality may no longer form part of the CFR Taiwan/China Asia Paraxylene assessment process.

For example, terminals which cannot receive vessels larger than 10,000 deadweight tonnage may be deemed restrictive and excluded from the assessment process. The volume standard for assessment will remain 5,000 mt.

Platts clarifies that Taiwan and China remain basis locations for the CFR Taiwan/China marker.

Finally, Platts proposes setting the standard credit terms for Asian paraxylene on a CFR Taiwan/China basis at 30 days letter of credit for cargoes shipping from Northeast Asia and Southeast Asia, with cargoes offered from other regions, or on other terms, normalized to a 30-day LC using prevailing interest rates and credit costs.

Platts is seeking feedback until March 20, 2017, with a proposed launch date of May 2, 2017.

Please direct any questions or comments to petchems@spglobal.com, with a copy to pricemethodology@spglobal.com.

Please provide a clear indication if comments are intended for publication by Platts for public viewing. Platts will consider all comments received and will make these comments available on request.