- / Commodity Insights
- / Subscriber Notes
- / Platts to rename Latin American product assessments to reflect DAP Incoterm
26 Jun 2024 | 00:38 UTC
Platts to rename Latin American product assessments to reflect DAP Incoterm
Platts, part of S&P Global Commodity Insights, will rename some of its Latin American refined product assessments with effect from July 24, 2024, to reflect a change in the typical Incoterms used in regional oil trade.
The names and underlying methodology of these delivered assessments for jet fuel, gasoline and ULSD previously reflected Cost, Insurance, Freight (CIF) and Cost and Freight (CFR) delivery. More details can be found in the Platts Americas Refined Oil Products Specifications Guide, available here: americas-refined-oil-products-methodology.pdf (spglobal.com)
Platts will change these to Delivered at Place (DAP), an Incoterm which indicates that the seller will deliver the product at a specific place and will incur all of the costs related to the cargo.
The decision to change from CIF and CFR to DAP follows industry feedback and observed changes in trading patterns and tender offers.
The Incoterm, name and description changes are as follows:
| Symbol | Former Name | New Name | Former Incoterms | New Incoterms |
| AAXYC00 | Gasoline RON 93 CIF Ecuador | Gasoline RON 93 DAP Ecuador | CIF Esmeraldas | DAP Esmeraldas |
| AAXWA00 | Gasoline CIF Eastern Mexico ($/barrel) | Gasoline DAP Eastern Mexico ($/barrel) | CIF Tuxpan | DAP Tuxpan |
| AATFH00 | Gasoline CIF Eastern Mexico (Pesos/liter) | Gasoline DAP Eastern Mexico (Pesos/liter) | CIF Tuxpan | DAP Tuxpan |
| AATFD00 | Gasoline CIF Lazaro Cardenas ($/barrel) | Gasoline DAP Lazaro Cardenas ($/barrel) | CIF Lazaro Cardenas | DAP Lazaro Cardenas |
| AATFN00 | Gasoline CIF Lazaro Cardenas (Pesos/liter) | Gasoline DAP Lazaro Cardenas (Pesos/liter) | CIF Lazaro Cardenas | DAP Lazaro Cardenas |
| AATFA00 | Gasoline CIF Rosarito ($/barrel) | Gasoline DAP Rosarito ($/barrel) | CIF Rosarito | DAP F Rosarito |
| AATFK00 | Gasoline CIF Rosarito (Pesos/liter) | Gasoline DAP Rosarito (Pesos/liter) | CIF Rosarito | DAP Rosarito |
| BGITA00 | Gasoline CFR Itaqui ($/b) | Gasoline DAP Itaqui ($/b) | CFR Itaqui | DAP Itaqui |
| BGITB00 | Gasoline CFR Itaqui (Real/cu m) | Gasoline DAP Itaqui (Real/cu m) | CFR Itaqui | DAP Itaqui |
| BGSUA00 | Gasoline CFR Suape ($/b) | Gasoline DAP Suape ($/b) | CFR Suape | DAP Suape |
| BGSUB00 | Gasoline CFR Suape (Real/cu m) | Gasoline DAP Suape (Real/cu m) | CFR Suape | DAP Suape |
| BGARA00 | Gasoline CFR Aratu ($/b) | Gasoline DAP Aratu ($/b) | CFR Aratu | DAP Aratu |
| BGARB00 | Gasoline CFR Aratu (Real/cu m) | Gasoline DAP Aratu (Real/cu m) | CFR Aratu | DAP Aratu |
| BGSAA00 | Gasoline CFR Santos ($/b) | Gasoline DAP Santos ($/b) | CFR Santos | DAP Santos |
| BGSAB00 | Gasoline CFR Santos (Real/cu m) | Gasoline DAP Santos (Real/cu m) | CFR Santos | DAP Santos |
| BGPAA00 | Gasoline CFR Paranagua ($/b) | Gasoline DAP Paranagua ($/b) | CFR Paranagua | DAP Paranagua |
| BGPAB00 | Gasoline CFR Paranagua (Real/cu m) | Gasoline DAP Paranagua (Real/cu m) | CFR Paranagua | DAP Paranagua |
| AGSUA00 | Gasoline CFR vs NYMEX | Gasoline DAP vs NYMEX | CFR Suape | DAP Suape |
| AATFG00 | Jet CIF Eastern Mexico ($/barrel) | Jet DAP Eastern Mexico ($/barrel) | CIF Tuxpan | DAP Tuxpan |
| AATFJ00 | Jet CIF Eastern Mexico (Pesos/liter | Jet DAP Eastern Mexico (Pesos/liter | CIF Tuxpan | DAP Tuxpan |
| AATFF00 | Jet CIF Lazaro Cardenas ($/barrel) | Jet DAP Lazaro Cardenas ($/barrel) | CIF Rosarito | DAP Rosarito |
| AATFP00 | Jet CIF Lazaro Cardenas (Pesos/liter) | Jet DAP Lazaro Cardenas (Pesos/liter) | CIF Rosarito | DAP Rosarito |
| AATFC00 | Jet CIF Rosarito ($/barrel) | Jet DAP Rosarito ($/barrel) | CIF Lazaro Cardenas | DAP Lazaro Cardenas |
| AJAAB00 | Jet Itaqui (US origin) ($/barrel) | Jet DAP Itaqui (US origin) ($/barrel) | CFR Itaqui | DAP Itaqui |
| AJABB00 | Jet Itaqui (US origin) (Real/cu m) | Jet DAP Itaqui (US origin) (Real/cu m) | CFR Itaqui | DAP Itaqui |
| AJAAE00 | Jet Suape (US origin) ($/barrel) | Jet DAP Suape (US origin) ($/barrel) | CFR Suape | DAP Suape |
| AJABE00 | Jet Suape (US origin) (Real/cu m) | Jet DAP Suape (US origin) (Real/cu m) | CFR Suape | DAP Suape |
| AJAAA00 | Jet Aratu (US origin) ($/barrel) | Jet DAP Aratu (US origin) ($/barrel) | CFR Aratu | DAP Aratu |
| AJABA00 | Jet Aratu (US origin) (Real/cu m) | Jet DAP Aratu (US origin) (Real/cu m) | CFR Aratu | DAP Aratu |
| AJAAD00 | Jet Santos (US origin) ($/barrel) | Jet DAP Santos (US origin) ($/barrel) | CFR Santos | DAP Santos |
| AJABD00 | Jet Santos (US origin) (Real/cu m) | Jet DAP Santos (US origin) (Real/cu m) | CFR Santos | DAP Santos |
| AJAAC00 | Jet Paranagua (US origin) ($/barrel) | Jet DAP Paranagua (US origin) ($/barrel) | CFR Paranagua | DAP Paranagua |
| AJABC00 | Jet Paranagua (US origin) (Real/cu m) | Jet DAP Paranagua (US origin) (Real/cu m) | CFR Paranagua | DAP Paranagua |
| AATFM00 | Jet CIF Rosarito (Pesos/liter) | Jet DAP Rosarito (Pesos/liter) | CIF Lazaro Cardenas | DAP Lazaro Cardenas |
| AAXWZ00 | Argentina ULSD | ULSD Argentina DAP La Plata | CIF La Plata | DAP La Plata |
| AAXWF00 | Ecuador ULSD | ULSD Ecuador DAP Esmeraldas | CIF Esmeraldas | DAP Esmeraldas |
| AAXWY00 | Peru ULSD | ULSD DAP Peru | CIF Peru | DAP Peru |
| AAXWE00 | ULSD CIF Eastern Mexico ($/barrel) | ULSD DAP Eastern Mexico ($/barrel) | CIF Tuxpan | DAP Tuxpan |
| AATFI00 | ULSD CIF Eastern Mexico (Pesos/liter | ULSD DAP Eastern Mexico (Pesos/liter | CIF Tuxpan | DAP Tuxpan |
| AATFE00 | ULSD CIF Lazaro Cardenas ($/barrel) | ULSD DAP Lazaro Cardenas ($/barrel) | CIF Rosarito | DAP F Rosarito |
| AATFO00 | ULSD CIF Lazaro Cardenas (Pesos/liter) | ULSD DAP Lazaro Cardenas (Pesos/liter) | CIF Rosarito | DAP Rosarito |
| AATFB00 | ULSD CIF Rosarito ($/barrel) | ULSD DAP Rosarito ($/barrel) | CIF Lazaro Cardenas | DAP Lazaro Cardenas |
| AATFL00 | ULSD CIF Rosarito (Pesos/liter | ULSD DAP Rosarito (Pesos/liter | CIF Lazaro Cardenas | DAP Lazaro Cardenas |
| BUITA00 | ULSD Itaqui (US origin) ($/barrel) | ULSD DAP Itaqui (US origin) ($/barrel) | CFR Itaqui | DAP Itaqui |
| BUITB00 | ULSD Itaqui (US origin) (Real/cu m) | ULSD DAP Itaqui (US origin) (Real/cu m) | CFR Itaqui | DAP Itaqui |
| BUSUA00 | ULSD Suape (US origin) ($/barrel) | ULSD DAP Suape (US origin) ($/barrel) | CFR Suape | DAP Suape |
| BUSUB00 | ULSD Suape (US origin) (Real/cu m) | ULSD DAP Suape (US origin) (Real/cu m) | CFR Suape | DAP Suape |
| BUARA00 | ULSD Aratu (US origin) ($/barrel) | ULSD DAP Aratu (US origin) ($/barrel) | CFR Aratu | DAP Aratu |
| BUARB00 | ULSD Aratu (US origin) (Real/cu m) | ULSD DAP Aratu (US origin) (Real/cu m) | CFR Aratu | DAP Aratu |
| BUSAA00 | ULSD Santos (US origin) ($/barrel) | ULSD DAP Santos (US origin) ($/barrel) | CFR Santos | DAP Santos |
| BUSAB00 | ULSD Santos (US origin) (Real/cu m) | ULSD DAP Santos (US origin) (Real/cu m) | CFR Santos | DAP Santos |
| BUPAA00 | ULSD Paranagua (US origin) ($/barrel) | ULSD DAP Paranagua (US origin) ($/barrel) | CFR Paranagua | DAP Paranagua |
| BUPAB00 | ULSD Paranagua (US origin) (Real/cu m) | ULSD DAP Paranagua (US origin) (Real/cu m) | CFR Paranagua | DAP Paranagua |
Please send any comments and questions to americas_refined_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.