SUBSCRIBER NOTE: Platts proposes new USAC ULS HO assessment

Platts is seeking feedback on a proposal to launch an FOB barge assessment in New York Harbor for ultra low sulfur heating oil, and the potential suspension of several other existing heating oil assessments as detailed below.

These proposed changes in coverage are in response to evolving market conditions.

Upgrades to refinery production and evolving fuel standards in the US mean that supply and trade of ultra low sulfur heating oil is increasingly common in the northeastern US, while traditional heating oil markets are naturally waning in volume.

Platts proposes to launch a new ULSHO assessment that reflects a minimum barge size of 25,000 barrels, undyed, sulfur max 15 ppm, cetane min 40, and other specifications similar to Colonial Pipeline's 67 grade for ULSHO at the delivery point.

This new assessment would reflect a delivery period of three to seven days forward on Monday-Wednesday, and five to nine days forward on Thursday and Friday.

Platts also proposes to discontinue the following heating oil assessments in the Atlantic Coast: New York Harbor cargo No. 2 (POAEH00), Boston cargo No. 2 (POAEA00) and Buckeye Pipeline No. 2 (AAJNP00) assessments.

These assessments can be found on Platts Global alert pages 482 and 410 as well as in US Marketscan and Platts Oilgram news.

Platts would continue to publish all other existing heating oil assessments.

Platts is proposing to launch the new ULSHO assessment on May 1, 2014, and discontinue the heating oil assessments described above with effect from January 2, 2015.

Please send comments and feedback by April 11 to americas_products@platts.com and pricegroup@platts.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.