Platts clarifies vessel nomination procedures around weekends, public holidays

S&P Global Platts wishes to clarify nomination expectations for all crude and products trades reported through its European Market on Close assessment process around non-publishing days, including weekends and public holidays.

Under Platts guidelines, for trades reported through the MOC, buyers and sellers must nominate terminals, vessels and narrowed laycans a specified number of "clear" or "full" calendar dates ahead of the first day of the originally-traded laycan.

All nominations should be received before 5 pm London time on the last publishing day ahead of the due nomination date if the latter falls on a non-publishing day, including weekends or UK public holidays.

For example, if a nomination would be due on a Monday, and this is a non-publishing day as per Platts publishing calendar, then the nomination would be due by 5 pm London time on the Friday ahead of this date.

Please see the European Refined Products Methodology Guide available here for more details about product nomination procedures: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Europe-africa-refined-products-methodology.pdf

Please see the EMEA Crude Methodology Guide available here for more details about crude cargo nomination procedures: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/emea-crude-methodology.pdf

Please submit any feedback or questions to Europe_Crude@spglobal.com, 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.