SUBSCRIBER NOTE: Platts proposes standardization of FOB Rotterdam Jet barges methodology

Following a consultation period announced ended on October 31, 2017 - announced through a subscriber note published on August 24, 2017 (https://www.platts.com/subscriber-notes-details/26792922) - S&P Global Platts proposes the following standardisation to its current methodology underpinning its Northwest European FOB Rotterdam Jet barges assessment with effect from July 2, 2018.

Basis Ports - Platts proposes to standardize the basis port from Rotterdam to the Flushing-Amsterdam-Rotterdam-Antwerp-Ghent range (FARAG) - Bids and offers in the Platts Market on Close (MOC) assessment process will be published basis FARAG - Indications for alternative loadports may be considered for publication and normalized accordingly Barges Sizes - The assessment will continue to reflect a basis of 2,000 mt - 3,000 mt, with volume nomination in the buyer's option at time of trade - Platts will publish bids and offers for the following ranges: 2,000 mt - 3,000 mt; 2,000 mt - 4,000 mt Laycans - Platts proposes to standardize the way in which bids and offers are published in its MOC assessment process to any fixed five-day period within the 3-15 or 5-15 days forward assessment window. Pricing bases - Platts will continue to reflect bids and offers expressed in outright terms as well as on floating and EFP bases - For floating indications, Platts proposes to standardize the pricing period to the published five-day laycan of the indication for the main volume.

In line with its current methodology, Platts reflects bids, offers and trades that limit a counterparty's price exposure to operational tolerance. Operational tolerance is typically limited to plus or minus 5% of the transacted size for barges. When pricing on a floating basis Platts reflects barges where the operational tolerance prices at the mean of the subsequent three assessments published by Platts after the bill of lading, at the same differential as the main volume.

The assessment is published in Platts European Marketscan and in Platts price database under the code: PJABA00. Please send any comments or queries by March 19, 2018 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.