Platts to halt current CFR Australia gasoil netbacks

Following feedback from Platts' note to subscribers on April 3, Platts will discontinue its existing CFR Australia gasoil netback assessments as proposed.

These assessments will no longer be published with effect from September 1, 2009. Platts currently assesses the following gasoil grades for Australia: 0.005% (50 ppm), 0.05%, 0.25% and 0.5% sulfur.

These daily netback assessments are arrived at by adding spot freight costs to assessments of related gasoil grades basis FOB Singapore.

On January 1, 2009, Australian national gasoil specifications moved to 10 ppm, or 0.001% sulfur grade, obviating the current assessments.

Platts will separately launch 10 ppm sulfur gasoil CFR Australia quotes on May 18, 2009.

Singapore-Australia (Melbourne/Sydney) clean tanker freight rates can be found in Platts Clean Tankerwire, and on Platts Global Alert (PGA) page 955.

Gasoil prices basis CFR Australia can be found in the Platts Asia Pacific/Arab Gulf marketscan and on PGA page 416.

Please send any further questions or comments to asia_products@platts.com and pricegroup@platts.com.