SUBSCRIBER NOTE: Platts proposes to amend CIF NWE naphtha part-cargo demurrage guidelines

S&P Global Platts proposes to revise the guidelines reflected in its methodology for CIF NWE naphtha part-cargo demurrage costs from June 1, 2017.

Platts seeks to ensure that neither the buyer nor the seller should be disadvantaged by the seller's decision not to deliver a full cargo.

The current methodology reflects deals in which demurrage paid by the buyer is on a pro-rata basis to normal destinations in NWE.

Platts proposes to amend these guidelines to reflect demurrage whereby the buyer's exposure to demurrage and laytime should not exceed the lesser of either the normal associated demurrage and laytime for a vessel size commensurate to the traded volume, or the charterparty for the actual nominated vessel.

Platts will no longer expect part-cargo demurrage to be calculated on a pro-rata basis.

Please send any comments and queries by May 1, 2017, 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.