Platts to launch Singapore Gasoil 500 ppm swaps assessment

Following industry feedback, Platts will launch new temporary assessments for FOB Singapore Gasoil 0.05% (500 ppm) swaps. The new assessments will be launched August 1 under the name "Interim Gasoil Swaps" and cover the contract months of October, November and December.

Platts will introduce eWindow technology for the Asian Market on Close assessment process for the new swaps concurrently with their launch August 1.

Bids, offers and trades for Gasoil 0.05% (500 ppm) will appear in the eWindow software under the product name "Platts GO" and under the hub name 0.05% Sing swap. Headlines generated by the software on Platts Global Alert will carry the prefix Platts GO and include the hub name.

The new swaps assessments will support the continued creation of a MOPS Strip for the valuation of physical gasoil cargoes shown on a floating price basis for assessment as Platts transitions its flagship FOB Singapore Gasoil benchmark from a high sulfur basis to a lower sulfur basis.

This interim MOPS Gasoil 500 Strip will be published from September 16 alongside the existing MOPS Gasoil Strip. Similarly, FOB Singapore physical cash differentials against both strips will be published from this date.

Platts will introduce eWindow technology for the Asian Market on Close assessment process for gasoil to allow market participants to bid and offer basis MOPS Gasoil 0.05% (500 ppm) concurrently with the launch of the MOPS Gasoil 500 Strip September 16.

In November 2011, Platts announced plans to lower the sulfur specification of its flagship Singapore Gasoil assessment to 500 ppm from the current 0.5% (5,000 ppm) on January 2, 2013.

At the same time, Platts announced plans to lower the sulfur specification of its flagship Arab Gulf Gasoil netback assessment, and all other current 5,000 ppm gasoil cargo assessments, to 500 ppm concurrently.

The lower sulfur specifications reflect changing supply and demand trends across the regions.

The new interim swaps assessments will appear on Platts Global Alert page 2654 in APAG Marketscan and in the Platts price database.

The new interim cash differential and MOPS Gasoil 500 Strip assessments will appear on Platts Global Alert pages 2404 and 2410, in APAG Marketscan and in the Platts price database.

Please send all feedback and comments to asia_products@platts.com and pricegroup@platts.com.