SUBSCRIBER NOTE CORRECTION: Platts proposes 10-day nomination for Singapore products

(Corrects feedback date in 2nd last para of note published Nov 11) Platts requests feedback on a proposal to amend the nomination procedures reflected in its FOB Singapore assessments for fuel oil and middle distillates, with effect from January 1, 2015.

Platts proposes that from January 1, 2015, it would only publish bids, offers and expressions of interest to trade for FOB Singapore fuel oil, gasoil and jet cargoes for which the following standards would apply: sellers must declare a terminal ten days prior to the first day of the loading window, and buyers should nominate a single performing vessel seven days prior, with the buyer narrowing the loading window to three days, subject to loading terminal acceptance.

This would be a change from the current standards in which both terminal and vessel are nominated seven days prior to loading. Gasoline already follows the ten-day terminal nomination convention described above.

This proposed change in methodology reflects the fact that the Singapore refined oil products markets have grown significantly in the last several years. The choice of terminal by a seller presents specific standards that affect a buyer's choice of vessel.

Please send all comments, feedback and questions by November 30, 2014, to pl_asia_oilproducts@platts.com and pricegroup@platts.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.