SUBSCRIBER NOTE: Platts to extend Asia MTBE assessment to FOB Straits

S&P Global Platts will amend the load points reflected in the Market on Close assessment process for its FOB Singapore assessments for MTBE, to encompass terminals beyond Singapore's borders but in close geographical proximity to Singapore.

This extends the permissible ports of loading to cover the entire Singapore Straits area, including existing ports of Tanjung Langsat, Tanjung Bin, and Pasir Gudang in Johor, Malaysia. Platts will begin extending Asia MTBE assessment to FOB Straits from January 5, 2018.

In line with Platts existing gasoline assessments, Platts has no plans to amend the nomenclature of its published FOB Singapore assessments and plans to continue to reference these assessments in all publications under the name of "FOB Singapore".

This change in methodology follows an extensive consultation with the market following feedback that the Singapore refined oil products markets have grown significantly in the last several years. The associated spot markets now regularly include trades for commodities loading close to, but beyond the geographic borders of, Singapore.

The affected codes for the markers in the Platts database are: PHALF11 for FOB Singapore.

Please direct any questions or comments to petchems@spglobal.com with a copy to pricemethodology@spglobal.com.

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