Fertilizers, Chemicals, Energy Transition, Renewables
April 30, 2025
Platts proposes to launch FOB Black Sea AN assessments and adjustment to existing FOB Black Sea AN specifications
Platts, part of S&P Global Commodity Insights, proposes to launch FOB Novorossiisk and FOB Poti ammonium nitrate assessments, along with adjustments to the specifications of the existing weekly FOB Black Sea AN assessment, effective July 3.
The proposal would provide more granularity to our nitrates coverage in the Black Sea region.
Under the proposal, Platts would launch two single-number assessments reflecting AN shipped from the Russian port of Novorossiisk and the Georgian port of Poti.
The specifications for the proposed FOB Poti and FOB Novorossiisk assessments are detailed below:
| Assessment name | AN FOB Poti | AN FOB Novorossiisk |
| Platts Symbol | TBD | TBD |
| Quality | 34.5% N ammonium nitrate | 34.5% N ammonium nitrate |
| Quantity | 6,000-15,000 mt | 6,000-15,000 mt |
| Basis and location | Open origin product loading out of Poti | Open origin product loading out of Novorossiisk |
| Timing | Product loading 1-30 days forward | Product loading 1-30 days forward |
| Frequency | Weekly, every Thursday | Weekly, every Thursday |
| Unit of measurement | $/mt | $/mt |
| Timestamp | 16:30 London close, published according to the London publishing calendar | 16:30 London close, published according to the London publishing calendar |
It is also proposed that the specifications of the existing AN FOB Black Sea range assessment (FANBB04) are adjusted to align with those of the proposed FOB Poti and FOB Novorossiisk assessments. The quantity specification of the FOB Black Sea assessment would increase and narrow to 6,000-15,000 mt from the current 4,000 mt minimum threshold.
The weekly FOB Black Sea AN assessment is currently published as a range with a low and high value. Under this proposal, the low and high of the existing AN FOB Black Sea would now be derived from the proposed two new single-number assessments rather than being assessed in its own right. No new market information will be considered for assessment of the range.
For example, if FOB Novorossiisk was assessed at $250/mt and the FOB Poti at $320/mt in a given week, then FOB Black Sea would be reflected as a range of $250-$320/mt.
The proposed adjustments to the specifications of the established weekly FOB Black Sea AN assessment are detailed below:
| Current specifications | Proposed specifications | |
| Assessment name | AN FOB Black Sea | AN FOB Black Sea |
| Symbol | FANBB04 | FANBB04 |
| Quality | 34.5% N ammonium nitrate | 34.5% N ammonium nitrate |
| Quantity | Minimum 4,000 mt | 6,000-15,000 mt |
| Basis and location | Russian or non-Russian product loading out of Black Sea ports | Open origin product loading out of Black Sea ports |
| Timing | Product to be shipped up to 30 days forward. | Product loading 1-30 days forward |
| Frequency | Weekly, every Thursday | Weekly, every Thursday |
| Unit of measurement | $/mt | $/mt |
| Timestamp | 16:30 London close, published according to the London publishing calendar | 16:30 London close, published according to the London publishing calendar |
The assessments would be published in the weekly Nitrogen Market Report, S&P Connect, Platts Connect and the Platts price database.
Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com by May 16.
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