Platts corrects March 24 Mediterranean Fuel Oil 1%S, 3.5%S Daily Rationales

Platts, part of S&P Global Commodity Insights, has corrected the March 24 Mediterranean Fuel Oil 1%S, 3.5%S Daily Rationales.

The rationales should read as follows:

FO 1%S CIF Med Cargo PUAAJ00 assessment rationale: The CIF Mediterranean low sulfur fuel oil cargo assessment was moved slightly lower, towards trades seen in the 1% FOB Med/1% FOB NWE derivatives market.

FO 1%S FOB Med Cargo PUAAK00 assessment rationale:

The FOB Mediterranean low sulfur fuel oil cargo assessment was derived as a freight netback to the CIF Mediterranean low sulfur fuel oil cargo assessment, using the following assessments: the CIF Mediterranean low sulfur fuel oil cargo assessment minus the cost of transporting a 30,000 mt fuel oil cargo between a basket of Mediterranean ports.

FO 3.5%S CIF Med Cargo PUAAY00 assessment rationale:

3.5%S CIF Med cargoes were assessed in line with the previous day's swaps differentials, derived from the $360.75/mt April and $360.75/mt May swaps assessments on March 24.

FO 3.5%S FOB Med Cargo PUAAZ00 assessment rationale:

The FOB Mediterranean high sulfur fuel oil cargo assessment was derived as a freight netback to the CIF Mediterranean high sulfur fuel oil cargo assessment, using the following assessments: CIF Mediterranean high sulfur fuel oil cargo assessment minus the cost of transporting a 30,000 mt fuel oil cargo between a basket of Mediterranean ports.

Exclusions: None

The rationale is published on PGA page 1580, PRF page 1580 and in Platts European Marketscan.