Platts to reflect delayed title and risk transfer in CPC Blend CIF Augusta assessment as standard

Platts, part of S&P Global Commodity Insights, will reflect the delayed transfer of title and risk in its CPC Blend CIF Augusta assessment, from July 1.

Platts understands that the delayed transfer of title and risk occurs once the vessel has passed through the Dardanelles.

Market feedback indicates that since the onset of the Russia-Ukraine war and heightened risk in the Black Sea region, the majority of CPC Blend cargoes are now traded with delayed transfer of title and risk.

Platts understands that it is the responsibility of the seller to cover any additional costs associated with the delayed transfer of title and risk.

From July 1, bids and offers in the Platts Market on Close assessment process that do not state anything about the location of title and risk transfer will reflect delayed title and risk transfer as defined above.

Platts will also publish bids and offers stating title and risk transfer at load port however these may be subject to normalization for assessment purposes.

Platts will continue to monitor the standing location of title and risk transfer in the CPC Blend cargo market.

Please send all feedback, comments or questions to europe_crude@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 to the public upon request.