Platts launches daily market-based European sustainable aviation fuel FOB FARAG barge assessment

Platts, part of S&P Global Commodity Insights, has launched a daily sustainable aviation fuel FOB FARAG barge assessment, effective Sept. 2, 2024.

Platts has recognized the need for an assessment to reflect the flow of neat sustainable aviation fuel transported domestically throughout Europe via barge.

The SAF assessment is on basis FOB Flushing-Amsterdam-Rotterdam-Antwerp-Ghent and reflects volumes of 1,000-3,000 mt. Volumes outside this range will be normalized to basis 1,000 mt. Other locations within Northwest Europe would be considered for the assessment but would be normalized to reflect basis FARAG. Operational tolerance is typically limited to plus or minus 5% of the transacted size for barges.

The assessment reflects barges loading 3-15 (Monday-Tuesday) or 5-15 (Wednesday-Friday) days from the date of publication.

The neat SAF assessment reflects ASTM D7566 standard specification for Synthesized Paraffinic Kerosene from Hydroprocessed Esters and Fatty Acids (HEFA), as reference in Annex A2, with a relative density of 760 kg/cu m (at 15 degrees Celsius).

The assessment reflects neat SAF produced via the HEFA pathway from Renewable Energy Directive-compliant feedstocks, with an exclusion for Palm Fatty Acid Distillate, and reflects minimum GHG savings of 8 5 %. Other GHG savings levels will be considered but may be normalized to the minimum basis level. The assessment reflects a product that holds proof of sustainability obtained in the framework of voluntary schemes approved by the EU Commission. Market participants shall exercise reasonable efforts to provide all necessary documentation for Proof of Sustainability documentation.

The new SAF assessment meets DEFSTAN requirements reflecting standard commercial Jet-A1 specifications, as defined by the UK Ministry of Defense in DEFSTAN 91-091 and the Joint Fueling System Checklist. The UK Ministry of Defense has updated DEFSTAN 91-091 periodically and Platts reflects the latest issue.

The neat SAF assessment considers market information reported to Platts and published throughout the day, including firm bids and offers, trades, and indicative values, as well as any other data deemed relevant to the assessment process.

The SAF price is published as an outright in US dollars per metric ton as well as a premium to the Platts Jet barge FOB FARAG assessment (PJABA00). The methodology and specifications for the jet assessment can be found here.

The assessments reflect a 1630 London time market close and follow the London publishing schedule.

The launch includes the following assessments:

Sustainable Aviation Fuel FOB FARAG $/ mt SUAFA00

Sustainable Aviation Fuel FOB FARAG Premium $/ mt SUAFB00

Sustainable Aviation Fuel FOB FARAG $/ mt MAvg SUAFA03

Sustainable Aviation Fuel FOB FARAG Premium $/ mt M Avg SUAFB03

Sustainable Aviation Fuel FOB FARAG $/ mt (Mirror) SUAEA00

Sustainable Aviation Fuel FOB FARAG Premium $/ mt (Mirror) SUAEB00

Sustainable Aviation Fuel FOB FARAG $/ mt MAvg (Mirror) SUAEA03

Sustainable Aviation Fuel FOB FARAG Premium $/ mt MAvg (Mirror) SUAEB03

Sustainable Aviation Fuel FOB FARAG Eur / mt SUAFC00

Sustainable Aviation Fuel FOB FARAG Premium Eur / mt SUAFD00

Sustainable Aviation Fuel FOB FARAG Eur / mt MAvg SUAFC03

Sustainable Aviation Fuel FOB FARAG Premium Eur / mt MAvg SUAFD03

Sustainable Aviation Fuel FOB FARAG Eur / mt (Mirror) SUAEC00

Sustainable Aviation Fuel FOB FARAG Premium Eur / mt (Mirror) SUAED00

Sustainable Aviation Fuel FOB FARAG Eur / mt MAvg (Mirror) SUAEC03

Sustainable Aviation Fuel FOB FARAG Premium Eur / mt MAvg (Mirror) SUAED03

Sustainable Aviation Fuel FOB FARAG cts /gal SUAFE00

Sustainable Aviation Fuel FOB FARAG Premium cts /gal SUAFF00

Sustainable Aviation Fuel FOB FARAG cts /gal MAvg SUAFE03

Sustainable Aviation Fuel FOB FARAG Premium cts /gal MAvg SUAFF03

Sustainable Aviation Fuel FOB FARAG cts /gal (Mirror) SUAEE00

Sustainable Aviation Fuel FOB FARAG Premium cts /gal (Mirror) SUAEF00

Sustainable Aviation Fuel FOB FARAG cts /gal MAvg (Mirror) SUAEE03

Sustainable Aviation Fuel FOB FARAG Premium cts /gal MAvg (Mirror) SUAEF03

Sustainable Aviation Fuel FOB FARAG $/ bbl SUAFG00

Sustainable Aviation Fuel FOB FARAG Premium $/ bbl SUAFH00

Sustainable Aviation Fuel FOB FARAG $/ bbl MAvg SUAFG03

Sustainable Aviation Fuel FOB FARAG Premium $/ bbl MAvg SUAFH03

Sustainable Aviation Fuel FOB FARAG $/ bbl (Mirror) SUAEG00

Sustainable Aviation Fuel FOB FARAG Premium $/ bbl (Mirror) SUAEH00

Sustainable Aviation Fuel FOB FARAG $/ bbl MAvg (Mirror) SUAEG03

Sustainable Aviation Fuel FOB FARAG Premium $/ bbl MAvg (Mirror) SUAEH03

The assessments can be found in the Biofuelscan, European Marketscan, on the Platts Biofuels Alert service, Platts Refined Products alert service and Platts Connect.

Industry feedback has highlighted a desire for market-based SAF price assessments to provide transparency and continue the development of the SAF market. Platts originally proposed the launch of market-based SAF assessments on Jul 15, in a subscriber note available here.

Please submit any feedback, comments, or questions about this proposal to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.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.