SUBSCRIBER NOTE: Platts to amend Middle East naphtha spot cargo assessment to 25,000-75,000 mt

After extensive feedback, Platts will amend the cargo size reflected in its Middle East naphtha spot cargo differential assessment to 25,000-75,000 mt from the current 25,000 mt, effective January 2, 2019.

This decision follows a proposal published on September 24, 2018. The subscriber note is available here: https://www.platts.com.es/subscriber-notes-details/21163514 Platts has no plans to change or amend the methodology for its outright FOB Arab Gulf naphtha netback assessment.

Instead, Platts is changing the methodology for the FOB Arab Gulf Naphtha premium/discount differential (AAPKH00) assessment. Platts will consider bids, offers and trades of cargoes ranging from 25,000 mt to 75,000 mt for the assessment. The final cash differential will be normalized to reflect 50,000-mt parcel sizes.

Platts currently publishes two FOB AG outright assessments, which reflect freight netbacks from CFR Japan for 55kt and 75kt vessel sizes. This methodology will remain unchanged.

Cargoes loading from the following Gulf ports would be considered for inclusion in the assessments: Jubail, Jebel Ali, Mina Al Ahmadi, Quoin Island, Shuaiba, Ras Tanura, Ruwais, Mina Abdulla, Sohar, Bahrain, Fujairah, Ras Laffan and any safe and sound port within this geographic area.

Platts will only publish offers where sellers specify at least one and no more than three representative load points and will only publish bids where buyers specify at least three representative load points.

For all trades reported through the Platts Market on Close process for the above assessments, 10 days prior to loading, seller would declare the terminal.

Seven days prior to loading, buyer would nominate the vessel, and narrow the loading window to three days, subject to terminal acceptance.

Please send any comments or queries, to asia_products@spglobal.com and pricegroup@spglobal.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.