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Refined Products, Diesel-Gasoil, Jet Fuel
September 01, 2023
Platts renames CFR Brazil ULSD, jet assessments to clarify US origin
Platts, part of S&P Global Commodity Insights, has renamed its CFR Brazil ULSD and jet fuel cargo assessments with effect from Sept. 1 to clarify the US origin of the products reflected in the prices.
The decision to rename the assessments was previously announced in a subscriber note published on Aug. 18, available here.
https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081823-platts-to-rename-cfr-brazil-ulsd-jet-assessments-to-clarify-us-origin
The CFR ULSD and jet cargo assessments were launched in August 2018 and are published daily in $/barrel and Real/cubic meter.
They have always been calculated as a net-forward from the US Gulf Coast, based on benchmark Colonial Pipeline market prices, a quality premium to reflect Brazilian specifications and relevant freight costs to five different Brazilian ports.
The words US origin have been added to the names of the assessments to make this methodology more apparent.
The underlying methodology and the assessment symbols have not changed and the assessments continue to be published daily in the same publications as previously.
Full details of the assessment name changes are in the following table:
| Former name | Symbol | New name |
| ULSD S10 Itaqui ($/barrel) | BUITA00 | ULSD Itaqui (US origin) ($/barrel) |
| ULSD S10 Itaqui (Real/cu m) | BUITB00 | ULSD Itaqui (US origin) (Real/cu m) |
| ULSD S10 Suape ($/barrel) | BUSUA00 | ULSD Suape (US origin) ($/barrel) |
| ULSD S10 Suape (Real/cu m) | BUSUB00 | ULSD Suape (US origin) (Real/cu m) |
| ULSD S10 Aratu ($/barrel) | BUARA00 | ULSD Aratu (US origin) ($/barrel) |
| ULSD S10 Aratu (Real/cu m) | BUARB00 | ULSD Aratu (US origin) (Real/cu m) |
| ULSD S10 Santos ($/barrel) | BUSAA00 | ULSD Santos (US origin) ($/barrel) |
| ULSD S10 Santos (Real/cu m) | BUSAB00 | ULSD Santos (US origin) (Real/cu m) |
| ULSD S10 Paranagua ($/barrel) | BUPAA00 | ULSD Paranagua (US origin) ($/barrel) |
| ULSD S10 Paranagua (Real/cu m) | BUPAB00 | ULSD Paranagua (US origin) (Real/cu m) |
| Jet Itaqui ($/barrel) | AJAAB00 | Jet Itaqui (US origin) ($/barrel) |
| Jet Itaqui (Real/cu m) | AJABB00 | Jet Itaqui (US origin) (Real/cu m) |
| Jet Suape ($/barrel) | AJAAE00 | Jet Suape (US origin) ($/barrel) |
| Jet Suape (Real/cu m) | AJABE00 | Jet Suape (US origin) (Real/cu m) |
| Jet Aratu ($/barrel) | AJAAA00 | Jet Aratu (US origin) ($/barrel) |
| Jet Aratu (Real/cu m) | AJABA00 | Jet Aratu (US origin) (Real/cu m) |
| Jet Santos ($/barrel) | AJAAD00 | Jet Santos (US origin) ($/barrel) |
| Jet Santos (Real/cu m) | AJABD00 | Jet Santos (US origin) (Real/cu m) |
| Jet Paranagua ($/barrel) | AJAAC00 | Jet Paranagua (US origin) ($/barrel) |
| Jet Paranagua (Real/cu m) | AJABC00 | Jet Paranagua (US origin) (Real/cu m) |
ULSD DAP South Brazil (All-Origin) Assessments
Platts also has launched new assessments Sept. 1 reflecting ULSD cargoes delivered into South Brazil from all origins, including Russia, as part of its commitment to bringing transparency to new markets.
https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/090123-platts-launches-new-assessment-for-ulsd-dap-south-brazil-from-all-origins-including-russia
The new all-origin assessments, published in both $/barrel and Real/cubic meter, represent the value of cargoes of 250,000-350,000 barrels meeting Brazil's diesel specifications delivered on a DAP basis to Paranagua and Santos in South Brazil 15-30 days forward from the day of publication.
In addition to the outright assessments, Platts has launched a corresponding differential versus NYMEX ULSD futures for the same cargoes as well as spread assessments showing the difference between the new spot all-origin assessments and the ULSD delivered net-forward price from the US Gulf Coast into South Brazil.
Please send any comments or questions to americas_products@spglobal.com and pricegroup@spglobal.com.
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