Platts proposes including Jiaxing port in paraxylene CFR Taiwan/China MOC

S&P Global Platts is inviting feedback on a proposal to include Jiaxing port in East China as a non-par delivery port in the Platts Market on Close assessment process for paraxylene CFR Taiwan/China from Jan. 3, 2022.

Under the proposal, Platts would publish standalone bids into Jiaxing port in the Singapore MOC process for paraxylene CFR Taiwan/China, where buyers must clearly state the discharge port as Jiaxing at the time of communicating their interest to Platts for publication.

Platts will not publish offers into Jiaxing.

Non-par ports are typically considered to be those with logistical constraints to handle a fully-laden MR-size shipment, and bids or trades into non-par ports may be normalized to the standard.

For trades reported through the market on close (MOC) on CFR Taiwan/China basis, buyers may not unilaterally declare Jiaxing as a discharge port.

However, Jiaxing may be requested and mutually agreed and such requests may not be unreasonably withheld.

Platts expects parties to be reasonable when exceptional circumstances require sellers to substitute vessels or buyers to substitute terminals after the respective nomination deadlines.

Buyers should not unreasonably withhold vessel substitutions or hamper the established discharge process.

If the substituted vessel tendered the notice of readiness in time for discharge, buyers should not put sellers on best endeavor basis.

Jiaxing port has a maximum draft of 9.6 meters.

There are two purified terephthalic acid production plants under Xinfengming Group and Tongkun Group with combined production capacity of 8.1 million mt/year.

Please send all feedback and comments by Oct. 20 to petchems@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.