SUBSCRIBER NOTE: Loadports nominations in 10 ppm premium unleaded FOB Med gasoline assessment

S&P Global Platts wishes to clarify that in its premium unleaded gasoline 10 PPM cargoes FOB Med (Code: AAWZA00) Market on Close assessment process, it considers bids, offers and transactions for loading on an FOB Mediterranean basis.

In line with prevailing FOB terms around transactions, a seller may nominate a reasonable alternative loadport to the basis, with demonstrable incremental freight costs incurred by the buyer to be borne by the seller.

In addition, in FOB transactions Platts reflects material sold on a destination-free basis and a buyer may wish to elect discharge into the same country of loading.

In FOB deals where a seller sells oil that loaded from within the same country as the intended delivery, the seller would not be expected to pay the additional costs typically focused around VAT.

For CIF transactions, Platts typically reflects oil of international origin.

Platts considers CIF bids, offers and transactions for delivery into the referenced port where the material is sourced from a different country, unless the seller commits to meeting any and all additional costs caused by supplying oil from the same referenced country.

In CIF transactions, a seller would not be expected to bear additional and demonstrable costs emanating from a buyer's deviation request into a different port/country other than the basis.

Please send feedback and comments to europe_products@spglobal.com and pricegroup@spglobal.com

For written comments, please provide a clear indication if comments are not intended for publication by S&P Global Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.