Fertilizers, Chemicals, Energy Transition, Renewables
May 22, 2025
Platts to launch AN Black Sea assessments, adjust existing FOB Black Sea AN specifications on July 3
Platts, part of S&P Global Commodity Insights, will 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 will provide more granularity to our nitrates coverage in the Black Sea region.
Platts will launch two weekly single-number assessments reflecting AN shipped from the Russian port of Novorossiisk and the Georgian port of Poti.
The quantity specification of the FOB Black Sea assessment will be narrowed to 3,000-15,000 mt from the current minimum 4,000 mt threshold.
The specifications for the 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 | 3,000-15,000 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 14-45 days forward | Product loading 14-45 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 |
| Assessment Type | Close Price- Single Value | Close Price- Single Value |
The specifications of the existing AN FOB Black Sea range assessment (FANBB04) will be adjusted to align with those of the FOB Poti and FOB Novorossiisk assessments. The quantity specification of the FOB Black Sea assessment will be narrowed to 3,000-15,000 mt from the current minimum 4,000 mt threshold.
The weekly FOB Black Sea AN assessment is currently published as a range with a low and high value. Following these changes, the low and high of the existing AN FOB Black Sea will now be derived from the above proposed two assessments: the single-number assessment for AN FOB Poti and AN FOB Novorossiisk. No new market information will be considered for the assessment of the range.
For example, if FOB Novorossiisk is assessed at $250/mt and the FOB Poti at $320/mt in a given week, then FOB Black Sea will be reflected as a range of $250-$320/mt.
The 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 | 3,000-15,000 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 14-35 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 |
| Assessment Type | High, Low Price- Range | High, Low Price- Range |
The assessments will be published in the weekly Nitrogen Market Report, S&P Connect, Platts Connect and the Platts price database.
A proposal to change the methodology for the assessment was published April 30 here.
Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com
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