Platts updates European SAF assessment methodology; updates SAF assessment names, March 24

Platts, part of S&P Global Commodity Insights, has updated 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 the 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 CIFNWE premium at $1,270/mt. This would result in an assessed SAF CIF NWE cargo price of $2,001.75/mt for Jan. 3.

Platts has also updated 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 has updated 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, is updated to SAF (H-S) FOB Straits.

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

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

Platts first proposed these changes on Jan. 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

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