Platts adjusts Japan Korea Ammonia Price (JKAP) carbon intensity specification March 31

Platts, part of S&P Global Commodity Insights, has adjusted the carbon intensity specification of its daily low-carbon Japan Korea Ammonia Price (JKAP) assessment March 31, 2025.

In view of a revision of carbon intensity requirements in Japan relating to ammonia, the carbon intensity specification of the assessment was adjusted to 0.87 kg CO2eq/kg ammonia well to gate, excluding transportation to the point of CFR delivery. It is roughly equivalent to 47g CO2eq/MJ.

The previous carbon intensity specification of the JKAP assessment was maximum 40 g CO2eq/MJ (roughly equivalent to 720 kgCO2eq/mt ammonia) gate to gate, excluding transportation to point of CFR delivery.

The change aligns the JKAP carbon intensity specification with that of the low-carbon US Gulf Ammonia Price (UGAP) launched by Platts on Nov. 1, 2024.

Assessment name: Japan Korea Ammonia Price (JKAP)

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around-33 degrees Celsius

Quantity: Basis 15,000-25,000 mt, normalized where necessary to 15,000 mt

Basis and location: Spot cargoes only. CFR Japan and South Korea, basis Nagoya

Carbon Intensity: Maximum 0.87 kg CO2eq/kg ammonia well to gate excluding transportation to the point of CFR delivery

Timing: Delivery 1-6 weeks forward

Frequency: Daily

Appears in: Platts Fertecon Daily

Unit of assessment: US dollars per metric ton

Timestamp: 16:30 Penang, following the Penang publishing calendar

Platts also has carbon intensity escalators for South Korea and Japan that can be used to normalize bids, offers and trades of ammonia with a CI below the stated carbon intensity threshold. For specifications relating to the CI escalator, see our Methodology and Specifications Guide for Global Hydrogen and Ammonia.

The specification change followed a proposal, published here, and a decision, published here.

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