Refined Products

November 15, 2024

Platts proposes to change Asia Group 1 Base Oils assessments names, specifications, publishing schedule

Platts, part of S&P Global Commodity Insights, proposes to change the current monthly, Asia Group 1 Base Oils spot assessments names, methodology and publishing schedule, effective Dec. 11, 2024, following feedback from the market.

Platts proposes to change the names of the following assessments:

Assessment code Current assessment name Proposed assessment name
PLAAA00 150SN Paraffin Far East Group 1 SN150 FOB Asia
PLAAD00 500SN Paraffin Far East Group 1 SN500 FOB Asia
PLAAG00 Bright Stock Far East Group 1 Bright Stock FOB Asia

In addition, Platts proposes to change the name of the table in which these assessments appear in the Oilgram Price Report from "Monthly spot Lube assessments" to "Weekly spot Base Oil assessments" to reflect the proposed change in frequency of these assessments.

Platts also proposes to change the methodology for the above assessments to reflect the following specifications and bases:

Group 1 SN150 FOB Asia (PLAAA00)

ASTM Color Maximum 1.5
Viscosity at 40 degrees Celsius 28-35 mm squared/s
Viscosity at 100 degrees Celsius 4.4-5.9 mm squared/s
Viscosity Index Minimum 95
Flash Point Minimum 200 degrees Celsius
Pour Point Maximum -6 degrees Celsius
Quantity 1,000 mt in bulk
Laycan 15-45 days forward
Location China, Indonesia, Japan, Singapore, Taiwan, Thailand

Group 1 SN500 FOB Asia (PLAAD00)

ASTM Color Maximum 4
Viscosity at 40 degrees Celsius 95-125 mm squared/s
Viscosity at 100 degrees Celsius 9.5-13 mm squared/s
Viscosity Index Minimum 95
Flash Point Minimum 210
Pour Point Maximum -6 degrees Celsius
Quantity 1,000 mt in bulk
Laycan 15-45 days forward
Location China, Indonesia, Japan, Singapore, Taiwan, Thailand

Group 1 Bright Stock FOB Asia (PLAAG00)

ASTM Color Maximum 6
Viscosity at 100 degrees Celsius 30-35 mm squared/s
Viscosity Index Minimum 95
Flash Point Minimum 270
Pour Point Maximum -6 degrees Celsius
Quantity 1,000 mt in bulk
Laycan 15-45 days forward
Location China, Indonesia, Japan, Singapore, Taiwan, Thailand

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

The above Group 1 assessments would be published on a weekly basis in $/mt and would take into consideration price information gathered during the week ahead of the assessment, with indications normalized to the close at 4:30 pm Singapore time each Wednesday.

The assessments would reflect the values of physical base oils cargoes at the close of 4:30 pm Singapore time on Wednesdays and would follow the Singapore publishing schedule. When a public holiday falls on the planned publishing day, the assessment will be published the day prior to the public holiday.

These assessments would continue to be found in the Oilgram Price Report, on Platts Connect, and on Platts Global and Refined Product alert pages 1146.

Please send any questions, comments, or feedback to asia_products@spglobal.com with a copy to pricegroup@spglobal.com by Nov. 29 2024.

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 make comments not marked as confidential available upon request.