SUBSCRIBER NOTE: Platts launch of standardization of FOB Rotterdam Jet Barges methodology

London (Platts)--2Jul2018/502 am EDT/902 GMT S&P Global Platts has standardized Northwest European FOB Rotterdam Jet barges assessment methodology, with effect from July 2, 2018.

A proposal note was published on February 12, 2018 -- available at https://www.platts.com/subscriber-notes-details/10229212-- which followed a formal consultation period opened on August 24, 2017 and ended on October 31, 2017. A decision note was published on April 12, 2018 and is reachable at https://www.platts.com/subscriber-notes-details/10357574. The launch affects the following aspects of the methodology, which are standardized as follows:

Basis Ports:

- Platts has standardized the assessment basis from FOB basis Rotterdam to FOB Flushing-Amsterdam-Rotterdam-Antwerp-Ghent (FARAG) - Bids and offers in the Platts Market on Close (MOC) assessment process are published basis FARAG - Indications for alternative loadports may be considered for publication and normalized accordingly Barges Sizes: - The assessment continues to reflect a basis of 2,000 mt-3,000 mt - Platts publishes bids and offers for the following ranges: 2,000 mt-3,000 mt; 2,000 mt-4,000 mt, with volume nomination in the buyer?s option at time of trade

Laycans:

- Platts has standardized the way in which bids and offers are published in its MOC assessment process to any fixed five-day period within the 3-15 (Monday-Tuesday) or 5-15 (Wednesday-Friday) days forward assessment period. Pricing bases: - Platts continues to reflect bids and offers expressed in outright terms as well as on floating and EFP bases - For floating indications, Platts has standardized the pricing period to the published five-day laycan of the indication for the main volume. - In line with its current methodology, Platts reflects bids, offers and trades that limit a counterparty's price exposure to operational tolerance. Operational tolerance is typically limited to plus or minus 5% of the transacted size for barges. When pricing on a floating basis, Platts reflects barges where the operational tolerance prices at the mean of the subsequent three assessments published by Platts after the bill of lading, at the same differential as the main volume.

The FOB Rotterdam Jet Fuel barges assessment is published in the Platts European Marketscan, PGA page 1410 and in Platts' price database under the code: PJABA00.

Please send any comments or queries to Europe_products@spglobal.com with a cc to 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.