Platts to halt current CFR Australia gasoil

Platts invites by April 17 feedback on its proposal to discontinue existing CFR Australia gasoil netback assessments. Platts currently assesses the following gasoil grades for Australia: 0.005% (50 ppm), 0.05%, 0.25% and 0.5% sulfur.

These daily netback assessments are arrived at by adding spot freight costs to assessments of related gasoil grades basis FOB Singapore.

On January 1, 2009, Australian national gasoil specifications moved to 10 ppm, or 0.001% sulfur grade. Platts therefore proposes to discontinue its existing CFR Australia gasoil assessments due to a change in spot market practice.

Platts is separately proposing to launch assessment of 10 ppm sulfur gasoil CFR Australia from May 18, 2009.

Please send questions or comments to asia_products@platts.com and pricegroup@platts.com.