Refined Products

November 11, 2024

Platts to launch weekly European Group 2 and Group 3 Base Oils assessments

Platts, part of S&P Global Commodity Insights, will launch weekly, CFR Europe Group 2 and Group 3 base oils spot assessments on Dec. 11, 2024.

The proposed assessments will reflect spot cargoes for Group 2 150N, 220 N, 600 N and unapproved Group 3 4CST and 6CST base oils.

The new Group 2 and Group 3 CFR Europe assessments will be basis Rotterdam, published in $/mt and will take into consideration price information gathered during the week up to the close of the assessment process on Wednesday of each week at 4:30 pm London time, following a London publishing schedule.

Details of the specifications:

Group 2

150 N

ASTM Color Maximum 1
Viscosity at 100 degrees Celsius 5-5.6 millimeters squared per second
Viscosity Index Minimum 95
Flash Point Minimum 200 degrees Celsius
Pour Point Maximum -12 degrees Celsius
Clip Size 1,000-5,000 mt
Laycan 20-45 days forward delivery
Basis Port Rotterdam

220 N

ASTM Color Maximum 1
Viscosity at 100 degrees Celsius 7-8 millimeters squared per second
Viscosity Index Minimum 95
Flash Point Minimum 220 degrees Celsius
Pour Point Maximum -9 degrees Celsius
Clip Size 1,000-5,000 mt
Laycan 20-45 days forward delivery
Basis Port Rotterdam

600 N

ASTM Color Maximum 1.5
Viscosity at 100 degrees Celsius 9.5-13 millimeters squared per second
Viscosity Index Minimum 100
Flash Point Minimum 230 degrees Celsius
Pour Point Maximum -9 degrees Celsius
Clip Size 1,000-5,000 mt
Laycan 20-45 days forward delivery
Basis Port Rotterdam

Unapproved Group 3

4CST

Viscosity at 100 degrees Celsius 4.2-4.4 millimeters squared per second
Viscosity Index Minimum 127
Flash Point Minimum 220 degrees Celsius
Pour Point Maximum -18 degrees Celsius
Evaporation Loss Maximum 12%
Clip Size 1,000-5,000 mt
Laycan 20-45 days forward delivery
Basis Port Rotterdam

6CST

Viscosity at 100 degrees Celsius 5.8-6.2 millimeters squared per second
Viscosity Index Minimum 130
Flash Point Minimum 220 degrees Celsius
Pour Point Maximum -15 degrees Celsius
Evaporation Loss Maximum 7%
Clip Size 1,000-5,000 mt
Laycan 20-45 days forward delivery
Basis Port Rotterdam

Following market feedback, the assessment size will reflect clip sizes of 1,000-5,000mt. In its subscriber note published on Oct. 17, 2024, Platts originally proposed a vessel size of 15,000-30,000 mt. The proposal note can be reached at: Platts proposes to launch weekly European Group 2, Group 3 base oils assessments | S&P Global Commodity Insights

Platts base oil assessments will reflect bulk liquid cargo clips which may be delivered on a part cargo basis.

Platts understands that prevalent grades trading in the market often reflect specifications specific to large producers. The Platts specifications aim to encompass the parameters of the main producers for each grade.

Pricing information with terms, locations, and specifications different from the above standard may be considered for assessment purposes, subject to normalization.

Please send any questions, comments, or feedback to europe_products@spglobal.com with a copy to pricegroup@spglobal.com.

For written comments, please provide a clear indication if they 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.