Platts closes consultation on Med 0.1% gasoil cargo Spanish B&C specification

S&P Global Platts has closed the consultation on the specification reflected in its Platts Gasoil 0.1% Cargoes CIF Med assessment (code AAVJJ00) and is not proposing any change to the current specifications.

This also applies to the related netback assessment Platts Gasoil 0.1% Cargoes FOB Med (code AAVJI00).

Based on feedback received, Platts will continue to reflect Spanish (B&C) quality gasoil for heating oil use, with a maximum sulfur concentration of 0.1%, in its Mediterranean high sulfur gasoil cargo assessments. The specification reflects a density range of 0.820-0.880 kg/l, with the Platts assessments normalized to a reference density of 0.845 kg/l.

Platts opened a consultation into the assessment specifications March 15, seeking feedback on the prevailing high sulfur gasoil specifications in the Mediterranean as the demand share between heating and automotive consumption shifts. That subscriber note is available here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/031521-platts-opens-consultation-on-med-01-gasoil-cargo-specification

Platts has reviewed feedback received during the consultation as well as trade-flow analysis for the different specifications that are traded in the Mediterranean gasoil complex. While specifications in the Mediterranean gasoil complex remain heterogenous, market feedback indicated that Spanish (B&C) gasoil continues to be regarded as a fungible and representative specification, widely utilized to benchmark other specifications in the market.

Platts understands that while the market share of high density gasoil sold on an "as-is" basis has increased, the share represented by the density-escalated, light gasoil remains significant.

Platts will continue to monitor developments in the Mediterranean high sulfur gasoil market as it evolves.

Please send any further feedback, comments or queries to europe_products@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.