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19 Nov 2013 | 06:01 UTC — Singapore
Please note that Platts' November 18, 2013 Singapore Gasoil bids, offers, trades, exclusions and key data commentary should read as follows: Bids/offers/trades: ASIA GASOIL CARGO MOC: DEAL SUMMARY: No trade ASIA GASOIL CARGO MOC: OUTSTANDING INTEREST: BIDS: Gasoil 500ppm: FOB Singapore: Glencore bids MOPS +0.90 Dec 7-11 150kb (Deemed pricing Dec 11-15) INCO; Gasoil 500ppm: FOB Singapore: Vitol bids MOPS +0.70 Dec 7-11 150kb (Deemed pricing Dec 9-13) INCO; Gasoil 500ppm: FOB Singapore: Trafigura bids MOPS +0.60 Dec 8-12 250kb INCO; Gasoil 500ppm: FOB Singapore: Vitol bids MOPS +0.80 Dec 14-18 150kb (Deemed pricing Dec 16-20) INCO; Gasoil 500ppm: FOB Singapore: BB Energy bids MOPS +0.70 Dec 14-18 250kb INCO ASIA GASOIL CARGO MOC: OUTSTANDING INTEREST: OFFERS: Gasoil 500ppm: FOB Malaysia: Tanjung Bin: Vitol offers MOPS +0.80 Dec 3-7 150kb (Deemed pricing Nov 19-25); Gasoil 500ppm: FOB Singapore: BP offers Flat Price $122.40 Dec 3-7 150kb; Gasoil 500ppm: FOB Singapore: BP offers MOPS +1.00 Dec 8-12 250kb ASIA GASOIL CARGO MOC: WITHDRAWN: Gasoil 10ppm: FOB Singapore: BP withdraws bids MOPS +2.10 Dec 3-7 150kb (Deemed pricing Nov 25-29) (4:02:52.963)
Exclusions: No market data was excluded from the November 18, 2013, Asian gasoil Market on Close assessment process.
Physical: ASIA GASOIL CARGO MOC: DEAL SUMMARY: No trade
Paper: Platts Asia deals summary: Gasoil paper November 18, 2013: Gasoil: December done 121.2 Hess Energy buys from Unipec (08:30:05); Gasoil: December done 121.2 Litasco buys from BP (08:30:05); Gasoil: December done 121.2 Litasco buys from Unipec (08:29:57); Gasoil: December done 121.2 Unipec sells to Shell (08:29:22)
MOPS strip Explanation for Singapore Gasoil assessment were derived as follows: December swap - $121.19/b January swap - $120.82/b December/January - $0.37/b
Mid-December is 15.5, mid-January is 15.5, mid-window 10.5 and the number of days between mid-December and mid-January is 31. With a daily backwardation of about 1.2 cents/b [0.37/31], multiplied by 5 days between mid-December and mid-window, the value difference between mid-window and mid-December is about 6 cents/b. MOPS strip is value at the mid window -- $121.19/b [December swap] plus 6 cents/b = $121.25/b.
The above appear in Platts Global Alert 2491, 2492 and 2493.