Platts clarifies part-cargo delivery guidelines for CIF NWE naphtha market

S&P Global Platts would like to clarify guidelines for performance on trades reported during the CIF Northwest European naphtha Market on Close assessment process.

Platts reflects European naphtha bids, offers and trades for full or part-cargo delivery, at the seller's option. When part-cargoes are delivered, neither the buyer nor seller should be disadvantaged by the seller's decision not to deliver a full cargo. A seller is expected to provide a vessel whose size is commensurate with typical trade patterns in the market and one that meets the receiver's reasonable shipping and vetting requirements.

Platts has observed that Medium Range tankers are the largest-sized vessels commonly used in the Northwest European naphtha market. If a seller chooses to perform on a trade by using a larger vessel, that will be subject to meeting the receiver's reasonable shipping and vetting requirements. At the same time, a buyer should not unreasonably refuse this option.

Please send any comments, questions or feedback to europe_products@spglobal.com and pricegroup@spblobal.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.