SUBSCRIBER NOTE: Platts to expand 'FOB Singapore' assessments to 'FOB Straits' July 2015

Platts requests feedback on a proposal to amend the loadpoints reflected in its FOB Singapore assessments for fuel oil, middle distillates and gasoline, with effect from July 1, 2015. Platts proposes that from July 1, 2015, the FOB Singapore assessments will reflect "FOB Straits" bids, offers and transactions. Platts has no plans to amend the nomenclature of its published FOB Singapore assessments and plans to continue to reference these assessments in all publications under the name of "FOB Singapore." For FOB Straits bids and offers, buyers and sellers would not state a specific loadpoint at the point of communication to Platts, and would proceed to nominate loading from one of the locations in Singapore and Malaysia that are already approved for the Platts Market on Close assessment process. For FOB Straits transactions, sellers would nominate an approved loadpoint seven days prior to loading for all products, except gasoline (loadpoint is nominated 10 days prior to loading for gasoline). Such approved loadpoints may include approved terminals in Singapore, or southern Malaysia. Additionally, Platts requests comments around the possible future inclusion of Indonesian terminals in the process. Platts does not currently reflect any Indonesian terminals in its FOB Singapore assessments. If a seller nominates a loadpoint that would impose demonstrable costs above the standard costs associated with loading from a Singapore terminal, extra costs would be borne by the seller. Under this revised approach, from July 1, 2015, Platts would no longer publish FOB Singapore or FOB Malaysia bids, offers or transactions in its Market on Close assessment process. Platts will only publish bids and offers and transactions as FOB Straits. This proposed change in methodology reflects the fact that the Singapore refined oil products markets have grown significantly in the last several years. The associated spot markets now regularly include trades for commodities loading close to, but beyond the geographic borders of, Singapore. In 2013, Platts reported 54 physical trades for oil products loading in terminals in Malaysia during its Market on Close assessment processes. To reiterate, under current Platts methodology, Platts FOB Singapore assessments have reflected "FOB Singapore" bids, offers and transactions, as well as "FOB Malaysia" offers and transactions, published during the Market on Close assessment process but from July 1, 2015, Platts will reflect FOB Straits bids, offers and transactions. Please send all comments, feedback and questions by September 30, 2014, to pl_asia_oilproducts@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.