SUBSCRIBER NOTE: Platts confirms STS for Upper Zakum crude deliveries

Platts confirms it will reflect the Abu Dhabi-III as an alternative delivery point in the Dubai partials crude oil assessment process for loading of Upper Zakum cargoes. The Abu Dhabi-III will be reflected as a delivery option with effect from August 1, 2015, when assessments will reflect October physical loadings onwards. This inclusion of an STS delivery option for Upper Zakum follows a proposal published by Platts on February 25. The ship has been commissioned and discharge has been successfully concluded from the Abu Dhabi-III since February. For loadings of cargoes prior to October, counterparties may mutually agree to STS deliveries. For STS deliveries, the operational tolerance would remain at up to 1,000 barrels, as for standard terminal loadings. For deviations, volumes would be priced on Upper Zakum assessments published on the last working day of the month of trade. For example, for cargoes loading in October, operational tolerance would price against the Platts Upper Zakum assessment published on August 31. The Aframax Abu Dhabi-III, IMO number 9489027, is operated by Abu Dhabi National Tanker Company. Platts has been notified that ship-to-ship operations from the vessel would be completed within port limits at Zirku, the current load point for Upper Zakum cargoes. Platts understands that IRSHAD (Petroleum Ports Operating Company) will be arranging the STS services. Platts invites further comments on the inclusion of the vessel. Platts also invites comments on reflecting ship-to-ship loadings for approved vessels within port limits for other crudes deliverable through the Dubai partials mechanism. Please send any further comments or questions to asia_crude@platts.com and pricegroup@platts.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.