SUBSCRIBER NOTE CORRECTION: Platts to launch CFR Singapore naphtha assessment

(Corrects benzene parameter specification from minimum to maximum 2.5%)

Following further market feedback, Platts is amending a specification of its forthcoming CFR Singapore naphtha assessment, which it will begin publishing September 1, 2015. Platts proposed this new assessment on May 24, 2015.

Under this amendment, the assessment will reflect a T50 Distillation point of minimum 50 degrees Celsius. Platts had previously proposed a T50 Distillation point of minimum 60 degrees Celsius. All other specifications remain as previously proposed.

This updated distillation specification is in line with the broadest range of naphtha volumes imported into Singapore, with a significant volume used for blending into gasoline grades.

The new assessment will reflect cargoes delivering into any approved Platts FOB Straits terminal 15-30 days ahead of the date of publication and of parcel size in the range 50,000 to 150,000 barrels.

Platts would publish the assessment as both an outright value and as a differential against the FOB Singapore Naphtha MOPS Strip. Platts has no plans to discontinue its FOB Singapore naphtha netback assessment, which is assessed as a freight netback from its CFR Japan naphtha assessment. The netback forms the basis of FOB Singapore naphtha derivatives assessments, and the naphtha MOPS Strip.

Platts separately continues to review its FOB Singapore naphtha spot market assessment, and invites further comment on that assessment.

SPECIFICATIONS: Platts proposes to assess CFR Singapore naphtha with the following standard specifications:

Property Unit Test Method Specification Density kg/L ASTM D 4052 Min 0.660 Research Octane Number ASTM D 2700 Min 72.0 Total sulfur wt.ppm ASTM D 5453 Max 250.0 Benzene content %vol ASTM D 5580 Max 2.5 Distillation 50% evaporated deg C ASTM D86 Min 50 Lead wt.ppb ICP-MS 13 Max. Arsenic wt.ppb ICP-MS 20 Max. Initial Boiling Point deg C ASTM D 86 25 Min. Final Boiling Point deg C ASTM D 86 204 Max. Mercury wt.ppb UOP 938 Report Paraffins vol% ASTM D 6839 Report Olefins vol% ASTM D 6839 Report Naphthenes vol% ASTM D 6839 Report Aromatics vol% ASTM D 6839 Report Oxygenated Compounds vol% ASTM D 6839 0.2 Max. Mercaptan sulfur wt% ASTM D 3227 Max 0.001 RVP psi ASTM D 6378 Max 13.0

CFR DELIVERY STANDARDS: For CFR Singapore assessments, buyers should nominate terminal for delivery 10 days before the first day of delivery dates agreed at time of trade. The seller should narrow the five day delivery range to a three day delivery range seven days before the first day of the narrowed delivery range. Platts also expects the seller to nominate the performing vessel seven days before the first day of the narrowed delivery range.

CFR DEVIATIONS: A CFR buyer has the right to request a deviation of the ship to another port, provided the ship-owner has granted, or has the ability to grant, the deviation to the charterer. Any incremental expenses associated with the deviation are borne by the buyer as he/she is initiating the request for the deviation. Charges incurred because of the deviation must be transparent and be granted at cost and in line with normal market practices. Platts will monitor such charges if they result in anomalies

These assessment will be published on Platts Global Alert, Platts Asia-Pacific/Arab Gulf Marketscan and in the Platts price assessment database.

Please send all comments, feedback and questions by August 26, 2015, 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.