Platts clarifies guidelines for UK ULSD specification in European diesel assessments

S&P Global Platts wishes to clarify publishing guidelines for bids and offers for UK ULSD specification in the CIF Northwest European ULSD Cargo Market on Close Assessment process.

Following the announcement from the British Standards Institution that the UK specification of ultra-low sulfur diesel (EN 590) will carry from April 30, 2020, a limit of 10,000 max for particles of more than 4 microns in diameter, all bids and offers reported in the CIF Northwest European diesel cargo MOC must clearly state whether they include a 10,000 max particle guarantee.

In addition, Platts wishes to clarify that the assessment for CIF UK ultra low sulfur diesel MOPL differential (AUKMA00), continues to reflect the latest BSI standard for EN 590. As such, the assessment will incorporate the announced change in the underlying specification for laycans from April 30 inclusive onwards. This assessment was launched March 2 and the subscriber note announcing the launch is available at:https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/030220-platts-launches-cif-uk-ulsd-cash-differential-assessment

The assessment of Diesel 10ppm UK Cargoes CIF NWE (AAVBH00) remains unaffected and continues to be derived as a freight net-forward to the ULSD 10 ppm Cargoes CIF NWE (AAVBG00) assessment based on the incremental freight differential to typical UK ports and using daily freight rates published in the Platts Clean Tankerwire.

Platts is consulting with the market on the evolution of this assessment and welcomes feedback in light of changing specification and market flows. Please send any comments, questions or feedback to europe_products@spglobal.com and copy 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.