Platts changes CIF ARA mixed xylene, toluene assessments

Effective Friday, April 24, 2020, S&P Global Platts has changed its delivery periods, quantity and nomination procedures reflected in its European CIF ARA mixed xylene and toluene assessment processes.

Platts launched a formal consultation into these assessments on October 4, 2019, in a subscriber note available here: plts.co

That was followed by a formal proposal on December 6, 2019 in a subscriber note available here: plts.co

As of April 24, Platts will only publish bids, offers and intentions to trade in its MOC assessment process in accordance with the following guidelines:

QUANTITY: Platts reflects bids, offers and intentions to trade for parcels in a 2,000-5,000 mt range delivered CIF ARA.

The specific quantity should be stated in the bid/offer.

DELIVERY PERIODS: Platts publishes bids, offers and intentions to trade for balance month and calendar month delivery periods.

Participants should allow at least five clear calendar days nomination period.

DELIVERY NOMINATION: Platts publishes bids, offers and intentions to trade whereby sellers will narrow the delivery window post-trade, subject to mutual agreement with the buyer.

At least five calendar days prior to the narrowed delivery window, sellers will nominate performing vessel and narrow the window to 10 days for coasters or larger vessels, and to five days for barges.

For balance-of-month trades with reduced laycans, nominations will be made promptly following the trade.

VESSEL TERMS: Platts publishes bids, offers and intentions to trade in which laytime and demurrage are capped at the level of a 10,000 dwt vessel.

Counterparties agree to demurrage either as per charter-party agreement or at the market rate of a 10,000 dwt vessel, whichever is lowest.

The following symbols will be affected:

The following symbols will be affected:

For further comments or queries, please contact petchems@spglobal.com and 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.