Platts references Dahej as base disport and specifies discharge locations for West India Marker LNG assessments

Platts, parts of S&P Global Commodity Insights, now references to Dahej LNG Terminal as the base discharge port to reflect its major import capacity on the west coast of India, and specifies the discharge locations for DES India and DES India, Dubai and Kuwait (IDK) in the West India Marker (WIM) cargo assessments, effective June 24, 2024.

Following the update, bids and offers now typically reflect delivery to Dahej and the buyers' option to nominate an alternate discharge port on the west coast of India. Buyers with the intention to receive their cargoes on the east coast of India as an option need to clearly state this intention in their bids.

Dahej LNG Terminal is the single biggest LNG terminal on the west coast of India with an annual capacity of 17.5 million mt. Meanwhile, other LNG terminals such as Dabhol, Hazira, Mundra and Kochi on the west coast have annual capacities of around 5 million mt each. Additionally, as Platts understands, discharge ports on the east coast of India typically are not included as potential discharge ports for spot bids and offers on a DES India or DES India, Dubai and Kuwait basis.

Bids submitted for publication during the Platts Market on Close assessment process under DES India and DES IDK do not include east coast India as potential discharge ports, unless explicitly stated otherwise by the buyer. Bids with east coast India as potential discharge ports continue to be subject to normalization, and buyers retain the option to substitute the delivery location latest by 15 days before the traded delivery window.

The changes are in line with industry feedback and observed changes in trading patterns and norms.

Platts continues to consider publication of bids, offers and trades with terms that differ from these standards, but may normalize them to these standards for its price assessment.

The update follows a decision note published May 21 here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/052124-platts-to-reference-dahej-as-base-disport-and-specify-discharge-locations-for-west-india-marker-lng-assessments

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