Proposed change to Urals ship vetting in MOC

Effective September 1, 2011, and following market feedback, Platts proposes to reflect in its Urals CIF Rotterdam, Urals CIF Augusta, and other Mediterranean CIF crude oil assessments only offers which provide a vessel meeting a buyer's reasonable ship vetting requirements.

Platts will continue to reflect offers made on a named vessel.

Platts currently accepts in its assessment process offers which guarantee a vessel meeting the vetting requirements of two named oil majors, a named vessel or a buyer-acceptable vessel.

Furthermore, Platts proposes to reflect bids requesting a vessel that meets the buyer's reasonable ship vetting requirements.

Comments please by August 19, to europe_crude@platts.com with a CC to pricegroup@platts.com.