Platts Tuapse naphtha pricing on CIF basis

All bids and offers submitted for consideration in Platts European naphtha MOC pricing process must be on a CIF basis.

Effective January 18, 2011, Platts will only reflect offers of Tuapse loading naphtha cargoes when the seller commits to deliver on a CIF basis, but with quantity established by means of a ship's composite at disport.

The reason for the additional requirement for Tuapse material is that Platts has analyzed recent loadings and noted that there were various b/l losses that were abnormal as compared with other loading ports. Platts will continue to review the issue.

Comments please to europe_products@platts.com with a CC to pricegroup@platts.com.