SUBSCRIBER NOTE: Platts to amend FOB, CIF naphtha Mediterranean netback specifications

S&P Global Platts will amend its Naphtha Cargoes FOB Med and Naphtha Cargoes CIF Med netback assessments to reflect open specification, effective August 1, 2017.

The assessments currently include both full range and paraffinic grades, with value normalized to reflect 65% minimum paraffin content.

Platts will align its Naphtha Cargoes FOB Med and Naphtha Cargoes CIF Med netback assessments with its Naphtha Cargoes CIF NWE assessment, which reflects open specification material with a minimum of 65% paraffin content and a typical specific gravity of 0.69 to 0.735 kg/l.

The Naphtha Cargoes FOB Med assessment is established as a netback from the CIF Northwest Europe assessment, using the Med-UKC clean tanker rate for 27,500 mt naphtha cargoes.

The Naphtha Cargoes CIF Med assessment is established as a net-forward from the FOB Med naphtha assessment, using the cross-Med clean tanker rate for 27,500 mt naphtha cargoes.

This decision follows a proposal published on May 24, 2017. The subscriber note is available here: https://www.platts.com/subscriber-notes-details/26743096.

Please send any comments and queries by July 14, 2017, to europe_products@spglobal.com with a cc to 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.