Fertilizers, Chemicals, Energy Transition, Renewables
May 01, 2025
Platts proposes to launch daily FOB SE Asia ammonia assessment; refine weekly FOB SE Asia ammonia assessment June 27
Platts, part of S&P Global Commodity Insights, is proposing the launch of a daily spot FOB Southeast Asia ammonia assessment, effective June 27.
To increase market transparency of ammonia and to provide a more granular assessment of market price, Platts proposes to launch a daily (Monday-Friday) single-number spot assessment of the FOB market for ammonia in Southeast Asia.
Platts also proposes to amend the specifications of the existing weekly FOB Southeast Asia ammonia assessment (FAAAB04), effective June 27, to align Platts' daily and weekly ammonia coverage, driving greater consistency.
A summary of the proposed changes is as follows:
Platts proposes to remove the contract component of its weekly FOB Southeast Asia (FAAAB04) assessment, having previously considered information from spot and contract markets, which can settle on different cadences.
The assessment would now reflect the price of product traded in the spot market, considering spot bid, offer and transaction data. In line with Platts methodology, when no spot bid, offer or transaction data exists, Platts may consider other verifiable data reported and published throughout the day, including fully and partially confirmed trades, notional trading values and other market information as provided for publication.
Specifications for the proposed daily FOB Southeast Asia assessment are detailed below:
| Assessment Name | Ammonia FOB Southeast Asia |
| Quality | Anhydrous ammonia, which is around 82% Nitrogen and stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity |
| Quantity | Basis 5,000-15,000 mt, with relevant price information normalized to this point |
| Basis and location | Spot cargoes only. Basis location Bontang, Indonesia. |
| Timing | Loading one to six weeks forward |
| Frequency | Daily |
| Unit of assessment | $/mt |
| Timestamp | 16:30 Penang close, published according to the Penang publishing calendar |
Specifications for the existing weekly FOB Southeast Asia assessment would be revised as below:
| Current specifications | Proposed specifications | |
| Assessment Name | Ammonia FOB Southeast Asia (FAAAB04) | Ammonia FOB Southeast Asia (FAAAB04) |
| Quality | Anhydrous ammonia, which is around 82% Nitrogen and is stored and transported as a liquid under pressure at around -33 degree Celsius. | Anhydrous ammonia, which is around 82% Nitrogen and stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity |
| Quantity | Minimum 4,000 mt | Basis 5,000-15,000 mt, with relevant price information normalized to this point |
| Basis and location | Contract and spot. Countries covered: Indonesia, Malaysia. Loading ports: Indonesia - Bontang, Palembang, Lhokseumawe. Malaysia - Kerteh, Bintulu. In the absence of representative FOB SE Asia price information, Platts may also use its freight rates assessment to derive FOB levels from known CFR prices in the delivered markets. | Spot cargoes only. Basis location Bontang, Indonesia. Price information relating to other relevant ports, such as in Indonesia, Malaysia, and Australia, may be considered and normalized, where necessary, to basis Bontang |
| Timing | Product to be shipped up to six weeks forward | Loading one to six weeks forward |
| Frequency | Weekly | Weekly |
| Unit of assessment | $/mt | $/mt |
| Timestamp | 16:30 Penang close, published according to the Penang publishing calendar | 16:30 Penang close, published according to the Penang publishing calendar |
Alignment of daily and weekly FOB Southeast Asia ammonia assessments
In addition, Platts proposes to define and standardize the relationship between the daily and weekly assessments. Previously, the weekly assessment was published as a range with a low and a high value. As of June 27, 2025, this range would reflect the lowest and the highest of the daily assessments published over the course of the preceding week.
Platts would also launch a third "close" value for the weekly assessment, reflecting market value at 16:30 Penang time on Thursdays, mirroring that day's daily assessment.
The proposed daily FOB Southeast Asia assessment would appear in the Platts Fertecon Daily publication and be available via Platts Connect. The weekly FOB Southeast Asia assessment would continue to appear in the Ammonia Market Report Publication and be available via Platts Connect.
Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com by May 20.
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