Platts clarifies inclusion of higher olefin material in propane FOB NWE seagoing coaster assessments

Platts, part of S&P Global Commodity Insights, clarifies that bids, offers or trades reported in its Market on Close assessment process for Propane FOB NWE Seagoing (PMABB00) reflecting material of maximum 30% olefins content may be published, subject to potential normalization for quality.

Platts updated the quality specifications of its propane FOB ARA barge, FCA ARA rail car and its FOB seagoing coaster assessments on March 5 to better reflect the specifications of material currently traded in the spot market.

More details can be found here: Platts reduces maximum olefin content in NWE barge, coaster and railcar propane assessments | S&P Global.

Platts understands that while material reflecting a maximum of 10% olefins content is typical for field grade propane currently traded in the Northwest Europe spot market, there remains refinery grade propane of up to maximum 30% olefins produced in Europe, particularly in the Mediterranean, which can make its way into Northwest European demand hubs seasonally.

As such, Platts would continue to consider bids, offers and trades for material with max 30% olefins, subject to normalization.

Platts would like to remind market participants its Propane FOB NWE Seagoing (PMABB00) assessment reflects the value of pressurized vessels loading 5-15 days from the date of publication, with values normalized to the mean of the loading period.

The assessment reflects coasters ex-refinery/storage with full cargoes of between 1,000-3,600 mt with a minimum content of 93% C3s and a maximum of 10% olefins including both field and refinery grades.

The assessment is FOB basis Tees, but loadings from other ports in NWE will be reflected.

Bids, offers and transactions from relevant Scandinavian ports may also be considered in the assessment.

Platts remains committed to ensuring that all bids, offers, and trades are representative of prevailing market conditions.

Please send any comments to europe_products@spglobal.com with a CC to pricegroup@spglobal.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.