SUBSCRIBER NOTE: Platts to update Europe gasoil, diesel barge methodology

After an extensive consultation period, Platts confirms that with effect from January 2, 2015 it will update its middle distillate barge assessment methodology to further standardize bids and offers published in the Market on Close Assessment process. These changes follow feedback to proposals to amend the bids, offers and transactions that are reflected in the MOC process for European for ultra low sulfur diesel and gasoil barges, published on May 15, 2014, and updated on October 22, 2014. VOLUMES: In diesel and 0.1% gasoil, Platts will reflect bids and offers of 1,000-3,000 mt, amended from the current 1,000-5,000 mt range. Following this change, the only size range considered for assessment purposes would be 1,000-3,000 mt. Fixed volume bids and offers would no longer be reflected. Buyers will retain the right to nominate a volume when expressing an intention to lift such an offer, and likewise when a seller expresses interest in a published bid. In 50 ppm gasoil, Platts' assessments already reflect 1,000-3,000 mt. LOADING DATES: In diesel and 0.1% gasoil, Platts will publish bids and offers for fixed laycans of five days each -- the front, middle and back end dates reflected in its assessments. Currently, any laycan within the 3-15 days (Monday-Tuesday) or 5-15 days (Wednesday-Friday) assessment period can be bid or offered. Following this change, a buyer will retain the right to nominate a barge loading on one specific day within the five-day laycan agreed at time of trade, following the end of the MOC process. Platts' 50 ppm gasoil barge assessment already reflects fixed loading periods of five days each -- front, middle and back end dates.

LOADING PORTS: Platts will not modify the loading ports reflected in its 0.1% gasoil and diesel barge assessments. These ports include Flushing, Amsterdam, Rotterdam, Antwerp and Ghent. However, for 0.1% gasoil and diesel barges, Platts will publish bids and offers for Amsterdam-Rotterdam-Antwerp and also Flushing-Ghent. The assessment will then be normalized back to Amsterdam-Rotterdam-Antwerp.

Platts welcomes any further comments and queries to europe_products@platts.com and pricegroup@platts.com. Please send comments and queries by December 17, 2014.

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.