Platts clarifies guidelines for nomination procedures in FOB Rotterdam fuel oil, marine fuel barge assessments

S&P Global Platts wishes to clarify nomination procedures reflected in its FOB Rotterdam fuel oil and marine fuel barge assessments.

As per previous Platts guidance, a seller can nominate any reasonable terminal in the Amsterdam-Rotterdam-Antwerp region for an FOB Rotterdam barge trade reported in the Market on Close assessment process, and the buyer should not unreasonably refuse this option.

The seller should compensate the buyer for the demonstrable incremental freight cost associated with loading in an alternative port to Rotterdam.

The freight differential applied should be mutually agreed by both counterparties involved in the reported trade.

Platts may review costs applied to ensure they reflect market value.

Sellers should nominate load port according to standard market practice.

Typically, load port nomination in barges occurs at least 24 hours ahead of delivery.

This guidance applies to the FOB Rotterdam Marine Fuel 0.5% barge assessment, the Fuel Oil 3.5% FOB Rotterdam barge assessment, the Fuel Oil 3.5% 500 CST FOB Rotterdam Barge assessment and the Fuel Oil 1% FOB Rotterdam barge assessment.

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