S&P Global Platts to revise Asian Benzene CFR China berth size from Nov 1

S&P Global Platts will reflect information around trading activity at berths in ports without specific restrictions and/or implied optionality as part of the CFR China Asia Benzene assessment process, with effect from November 1, 2019.

Following a period of consultation with the industry, market feedback has confirmed that terminals that cannot accommodate vessels larger than 5,000 deadweight (dwt) are an exception to the norm of terminals at the four ports of delivery in the CFR China Platts Market On Close process that can receive larger vessels. Jiangyin, Ningbo, Changzhou, and Caojing remain basis ports for the CFR China assessment.

The standard size for assessment will remain 3,000 mt.

Platts first proposed this in a subscriber note dated August 20, 2019: http://plts.co/UX4r30ptIcy.

Please direct any questions or comments to petchems@spglobal.com, with a copy to pricemethodology@spglobal.com.

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