SUBSCRIBER NOTE: Platts to launch Japan domestic oil product assessments

Platts is launching new assessments reflecting the value of Japanese domestic oil product waterborne deliveries across three locations on April 25, 2016.

The new assessments include 89 RON gasoline, 10 ppm gasoil, kerosene, high sulfur A-fuel oil and low sulfur A-fuel oil. All fuels are assessed at three locations initially: FOB Tokyo Bay, FOB Chukyo and FOB Hanshin.

The new assessments reflect oil products conforming to the latest Japan Industrial Standard specifications, as published by the Japanese Industrial Standard Committee at www.jisc.go.jp/app/JPS/JPSO0020.html, except where otherwise noted.

Following feedback to Platts' initial note published on April 12, 2016, Platts is amending the parcel size reflected in the assessments for all products. The minimum parcel size for all products will be 500 kl.

The assessments will reflect the following standards and sizes:

Assessment Parcel Size (kiloliters) JIS Specification Gasoline RON 89 500 - 2,000 JIS K 2202 Gasoil 10 ppm sulfur max 500 - 2,000 JIS K 2204 Kerosene 500 - 2,000 JIS K 2203 Low Sulfur A-Fuel Oil 500 - 2,000 JIS K 2205 (Class 1 No.1)* High Sulfur A-Fuel Oil 500 - 2,000 JIS K 2205 (Class 1 No.2)**

*Platts assessment for low sulfur A-fuel oil will reflect a sulfur level of maximum 0.1%. **Platts assessment for high sulfur A-fuel oil will reflect a sulfur level of maximum 1%.

These assessments will follow Platts Market on Close price assessment principles, reflecting a timestamp of 15:30 Tokyo time. Platts will give priority in the assessments to fully transparent published bids, offers and transactions.

Platts assessments reflect loadings from both refineries and commercial storage, and Platts may normalize bids and transactions that exclude supplies from storage.

Platts assessments will be published in yen/kl, and will follow the Platts Tokyo publishing schedule, which reflects Japan's national holidays as well as global market holidays.

These new assessments will be published in Platts Global Alert, Platts Japan Oil Products website and in the Platts price database.

Please send all feedback and questions to asia_products@platts.com, with a cc to pricegroup@platts.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.