Platts confirms August 1 launch of new Asia LPG assessments

Following feedback to proposals published on May 10, 2012, Platts confirms that it will launch a series of new daily assessments for pressurized LPG in Asia on August 1.

These new assessments comprise LPG trading at five locations in Asia: pressurized LPG cargoes delivered to Vietnam (basis CFR Ho Chi Minh City); delivered to the Philippines (basis CFR Bataan); loading from East China (basis FOB Shanghai); loading from South China (basis FOB Shenzhen) and loading FOB Singapore.

These values will be published as outright price assessments. Platts will also publish an assessment for the premium or discount for cargoes relative to the Saudi Aramco Contract Price that prevails at the time the cargo is delivered or loading.

Platts will reflect mixed cargoes in these assessments, containing 30% propane and 70% butane, for delivery (or loading for FOB assessments) 7-15 days after the date of assessment. Platts will consider cargoes of 1,800-2,500 mt in size, for delivery to main ports in Vietnam, and normalize the value to Ho Chi Minh City.

The assessments will be published alongside Platts' existing LPG assessments on Platts Global Alert, Petrochemicals Alert, in LPGaswire, and in Platts' market data services.

Platts continues to seek comments by October 1 on its May 10 proposal to discontinue all existing CFR Shenzhen and Shanghai pressurized LPG assessments with effect from November 1, 2012. The suspensions reflect changing trading patterns in Asia.

Please send all questions and feedback to asia_lpg@platts.com and pricegroup@platts.com.