SUBSCRIBER NOTE: Platts to discontinue non-standard Urals load ports

S&P Global Platts will discontinue its non-standard loading ports for Urals basis CIF Rotterdam and Urals basis CIF Augusta with effect from January 3, 2017.

The decision follows a proposal published on October 21, 2016 which can be found at the following location: http://www.platts.com/subscriber-notes-details/26575698. Platts has observed a lack of liquidity in Urals crude loading from ports outside the main terminals of Gdansk, Primorsk and Ust-Luga in the Baltic Sea and Novorossiisk in the Black Sea.

There have been limited or no loadings of the grade at the Baltic Sea port of Butinge, the Barents Sea port of Murmansk, and the Black Sea ports of Odessa, Yuzhny, Theodossia, Kavkaz and Kerch, which were all once regular export terminals for Urals.

As a result, from January 3, 2017, Platts will only reflect loadings from Gdansk, Primorsk and Ust-Luga in the Baltic Sea and Novorossiisk in the Black Sea in its CIF assessments after this update.

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