Platts proposes US Gulf Coast waterborne changes (updated)

Platts continues to seek comments on its proposal to:

a) change its US Gulf Coast gasoline and distillates waterborne assessment period from the current 5-15 days from date of publication to 10-20 days from date of publication.

b) utilize the third and fourth cycle after the prompt cycle Colonial Pipeline assessments as the basis for its waterborne assessments.

c) include a 42 cetane number and nitrogen content of 170 ppm max for No.2 oil waterborne assessment.

d) expand the geographical delivery points to include Port Arthur and Lake Charles, in addition to Houston. All delivery points beyond Port Arthur, Houston and Lake Charles, including Corpus Christi, New Orleans and Pascagoula would be normalized back to the three main delivery points.

As this is a FOB market, the seller nominates the delivery point among the three ports, five days before the first day of the laycan. The buyer then nominates the vessel and the loading dates within the three-day laycan, pending terminal acceptance.

e) Platts is defining its waterborne assessments to reflect a minimum volume of 50,000 barrels to a maximum of 125,000 barrels.

Platts is proposing to implement these changes on August 3, 2009.

Please send comments to Esa Ramasamy at esa_ramasamy@platts.com; David Ruisard, david_ruisard@platts.com and a cc to pricegroup@platts.com.