Subscriber note: Platts to amend CIF Med naphtha calculation from Jan 2014

Following industry feedback, Platts confirms that with effect from January 2, 2014 Platts will remove an allowance of $3/mt for additional port costs from its calculation of its CIF Mediterranean naphtha assessment. Platts originally proposed removing the $3/mt cost from the calculation in a subscriber note published on June 27, 2012. Under its revised formula, Platts will only applying the freight value between Alexandria and Lavera to its FOB Med naphtha assessment to derive the CIF Mediterranean naphtha assessment. This freight value will be calculated using the Platts cross Med clean tanker assessment for 27,500 mt naphtha cargoes only. Please send any further feedback and questions to europe_products@platts.com with a cc to pricegroup@platts.com