Platts proposes to remove single terminal origin requirement for WTI Midland cargoes supplied via STS transfer from larger vessels in Dated Brent

Platts, part of S&P Global Energy, proposes to remove its single terminal origin requirement for WTI Midland Aframax cargoes supplied via ship-to-ship transfer from larger vessels in its North Sea Market on Close assessment process and Dated Brent, from May 1, 2026.

Platts understands that when loading a larger vessel, such as a VLCC, as an alternative to an Aframax, prevailing market practice is to load from multiple terminals in the US Gulf Coast.

Under the current methodology, all the oil on board a larger vessel must have originated from a single Platts-approved terminal for it to supply WTI Midland in the Dated Brent MOC via ship-to-ship transfer onto an Aframax for final delivery.

Under the proposal, Platts would expect all parcels on board the larger vessel to:

• Be carried in segregated cargo tanks and have separate Bills of Lading;
• Meet Platts' global WTI Midland specifications;
• Have demonstrably loaded from one, or a combination of, US Gulf Coast Terminals approved by Platts.

In practice, this would mean that individual parcels would need to remain segregated on board the larger vessel to ensure each parcel delivered into a Dated Brent MOC trade can be traced back to its original terminal, and there should be no oil on board the vessel that does not meet Platts WTI Midland specifications nor be from a non-Platts approved terminal, irrespective of segregation.

Platts also expects that any Aframax delivered into Dated Brent should continue to only contain WTI Midland from a single Platts-approved terminal.

Platts existing expectations around quantity, quality and deviation costs would remain unchanged. These expectations can be found in the Platts EMEA Crude methodology guide: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/crude-oil/emea-crude-specifications.pdf.

Please send all feedback, comments, or questions to europe_crude@spglobal.com and pricegroup@spglobal.com by Jan. 16, 2026.

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 to the public upon request.