SUBSCRIBER NOTE: Platts amends NWE diesel, gasoil barge proposal

Following the feedback from the subscriber note dated March 30, 2015 regarding the standardization of Northwest European 0.1% gasoil and diesel barge indications to be used in Platts price discovery processes, Platts has amended its proposal, including the effective date, which was previously April 27.

Effective June 1, 2015 in the Platts NWE 0.1% gasoil and diesel barge Market on Close assessment process, Platts proposes to reflect floating price bids, offers and transactions that would price on the average of Platts mean assessments in the five-day laycan. The 5% operational tolerance of the barge will price at the mean of the subsequent three assessments published by Platts after bill of lading, at the same differential as the main volume.

Platts also proposes that the outright price bids, offers and transactions are to be applied to the main volume only. The 5% operational tolerance of the barge should price at the mean of the subsequent three assessments published by Platts after bill of lading. In the previous note, Platts proposed that the outright price bids, offers and transactions applies to the full loaded volume.

Please send any comments or questions to europe_products@platts.com and copy pricegroup@platts.com. The deadline for submitting comments is Friday 8 May, 2015. 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.