SUBSCRIBER NOTE: Platts revises Asian PX CFR Taiwan/China ports, basis, credit terms

S&P Global Platts has from July 3, revised its Asian PX methodology in relation to port berths, basis and credit terms.

Any specific restrictions and/or implied optionality may no longer form part of the CFR Taiwan/China Asia paraxylene assessment process. Specifically, berth terminals which cannot receive MR vessels may be deemed restrictive and excluded from the assessment process.

The volume standard for assessment will remain 5,000 mt.

Platts clarifies that Taiwan and China remain the basis locations for the CFR Taiwan/China marker.

Finally, Platts has set the standard credit terms for Asian paraxylene on a CFR Taiwan/China basis at 30 days letter of credit for cargoes shipping from Northeast Asia and Southeast Asia, with cargoes offered from other regions, or on other terms, normalized to a 30-day L/C using prevailing interest rates and credit costs.

Please direct any questions or comments to petchems@spglobal.com, with a copy to pricemethodology@spglobal.com.

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