Adjustment to 2013 Mid East gasoil, jet netbacks

Following industry feedback, Platts will remove a 5 cents/barrel additional port charge element from its formula for calculating netback values for gasoil and jet to Middle East loading ports.

Platts will eliminate the additional charge in its 2013 netback formulas, which will come into effect from January 2, 2013.

The charge, which is factored into Platts' netback calculations in addition to other freight charges detailed in its Asia Refined Products methodology and specifications guide, has historically reflected additional port fees over and above those reflected in typical freight rates themselves.

Upon review, Platts has determined that these charges are no longer a common feature of the market.

Please send any remaining comments and questions to asia_products@platts.com and pricegroup@platts.com.