SUBSCRIBER NOTE: CP options standards for CIF Rotterdam Urals

S&P Global Platts would like to remind market participants that for CIF Rotterdam Urals trades reported through the Platts Market on Close assessment process, all Charter Party (CP) options should be passed from a seller to the buyer in the form that they exist in the original Charter Party contract. The seller should not impose a fee for passing the Charter Party options.

Requests from the buyer in the MOC process for additional CP options should be passed by the seller to the vessel owner without delay upon fixing the vessel to be nominated. If the request is made before the vessel to be nominated is fixed, the seller is not obligated to fix a vessel with any non-standard options not included in the original bid. However, any requests should be passed on by the seller to the ship owner at the earliest possible opportunity.

Buyers seeking to ensure availability of specific options should clearly state their requirements in bids submitted to Platts for publication in the MOC process, including short options and Mediterranean options. Platts may normalize bids, offers and trades on the basis of prevailing shipping information.

Platts welcomes all feedback and questions. Please send comments to oilgroup@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.