Platts adds 100 kb, 150 kb eWindow instruments to FOB Singapore RON 95, RON 97 gasoline MOC

Platts, part of S&P Global Commodity Insights, has launched new eWindow instruments for 100,000-barrel and 150,000-barrel cargoes in its FOB Singapore RON 95 and RON 97 gasoline Market on Close assessment process, effective July 1.

Previously, Platts published bids, offers and trades for 50,000-barrel cargoes in the FOB Singapore RON 95 and RON 97 gasoline MOC via eWindow, while price information reflecting larger clip sizes was published as manual headlines on Platts Global Alert page 190.

From July 1, market participants are able to submit bids and offers for cargo sizes of 100,000 barrels and 150,000 barrels in the FOB Singapore RON 95 and RON 97 gasoline MOC for publication directly via the eWindow communication tool or do so through an editor who would then publish the information using the software.

The Platts assessments for FOB Singapore RON 92, RON 95 and RON 97 gasoline reflect the value of cargoes of a minimum of 50,000 barrels and a maximum of 150,000 barrels each for loading 15-30 days forward from the date of publication.

Platts first proposed adding the new eWindow instruments in a subscriber note published May 13: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/051324-platts-to-add-100-kb-150-kb-ewindow-instruments-to-fob-singapore-ron-95-ron-97-gasoline-moc.

All bids and offers for 100,000-barrel and 150,000-barrel cargoes can be submitted either on a flat price or a floating price basis on eWindow. Counterparties can only trade the different cargo sizes in their entirety and not in partial clips. Bids and offers of different cargo sizes will not be matched automatically on eWindow, even when the price and other parameters are the same.

For example, an offer for 50,000 barrels of RON 95 gasoline will not match a bid for a 100,000-barrel cargo of RON 95 gasoline, even if both orders are for cargoes loading over the same laycan and at the same price.

Platts has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers in the MOC in order to ensure an orderly and transparent price assessment process, which can be found here: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/oil-timing-increment-guidelines.pdf.

Platts has separately opened a consultation process June 13 to review the methodology for its gasoline cargo assessments for FOB Singapore RON 92, RON 95 and RON 97. Specifically, Platts is inviting feedback on the existing methodology for gasoline clip sizes, reflected in light of recent changes in regional trade flows. Details of the ongoing consultation, which ends Aug. 23, can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/061324-platts-opens-consultation-on-fob-singapore-gasoline-clip-sizes.

Full information relevant to the Platts FOB Singapore gasoline assessments can be found in the Asia-Pacific and Middle East refined oil products specifications guide available here: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Asia-refined-oil-products-methodology.pdf.

Please send any questions or comments to asia_products@spglobal.com and PriceGroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available to the public upon request.