Platts amends, renames Latin America and Caribbean jet index

S&P Global Platts has amended the composition of its Latin America and Caribbean jet fuel index to reflect only Mexican and Brazilian assessments, and has renamed it to the Latin America jet fuel index, effective July 1, 2021.

The Latin America and Caribbean jet fuel index previously reflected the value of jet fuel in Mexico (70%), Brazil (20%) and the Caribbean (10%). Under the change, Mexico and Brazil now account for 60% and 40% of the regional index, respectively, with the weightings reflecting jet fuel demand and trade flows into those regions.

This follows a decision by Platts to discontinue its Caribbean jet fuel assessment, also effective July 1.

Platts first proposed the changes to the regional jet index in a subscriber note published April 8: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/040821-platts-proposes-to-amend-rename-latin-american-and-caribbean-jet-index

The value of jet fuel for Mexico and Brazil will continue to be represented in the index by the Platts Jet CIF Eastern Mexico assessment (AATFG00) and the Platts Jet CFR Santos assessment (AJAAD00), respectively.

Under the change, the regional index has been renamed the Latin America jet fuel index. This is one of five indices that comprise the Platts Global Jet Fuel Index, accounting for 4.08% of the total.

The Platts Global Jet Fuel Index is a weighted average of Platts jet fuel assessments from major global trading, supply and demand centers. The weightings in the index represent a broad view of proportional demand for jet fuel around the world. The change does not impact the weighting of the regional index in the calculation of the Global Jet Fuel Index.

The affected assessments are:

Assessment name Code

Jet Index Latin America & Caribbean (cents/gal) PJLAC07

Jet Index Latin America & Caribbean ($/b) PJLAC08

Jet Index Latin America & Caribbean ($/mt) PJLAC09

Jet Index Latin America & Caribbean (relative value) PJLAC00

These assessments appear on Platts Global Alert page 115, in US Marketscan and in the Platts price database under the codes above.

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