22 Dec 2022 | 18:49 UTC

Platts to update 2023 European Jet, USLD and Gasoil netback and net-forward assessment formulae effective Jan. 3, 2023

Platts, part of S&P Global Commodity Insights, will update the formulae to derive its netback and net-forward assessments to reflect updated Worldscale freight rates for 2023.

The updates are effective Jan. 3, 2023, across the following Platts price assessments for the Europe and Africa region.

Please note that Platts has advised of changes effective Jan. 3, 2023 to the applied netback and net-forward baskets for its European gasoil and diesel assessments in a proposal note published Sept. 30, 2022, and a subsequent decision note published Oct. 31, 2022.

The proposal note can be found here and the decision note can be found here.

Effective Jan. 3, 2023, the following formulae apply:

Diesel:

Assessment Name
2023 netback/net-forward formula
ULSD 10ppmS FOB NWE Cargo (AAVBF00)
$5.55/mt
ULSD 10ppmS FOB NWE Basis Le Havre Cargo (AAWZD00)
$6.75/mt
Diesel 10ppm UK Cargoes CIF NWE - Original (French) Spec (AUKDA00)
$2.71/mt
ULSD 10ppmS CIF NWE basis Le Havre cargoes (AAWZC00)
$1.15/mt
ULSD 10ppmS FOB Med Cargo (AAWYY00)
$7.80/mt

Gasoil:

Assessment Name
2023 netback/net-forward formula
Gasoil 0.1%S FOB NWE Cargo (AAYWR00)
$7.84/mt
Gasoil 0.1%S FOB Med Cargo (AAVJI00)
$7.26/mt

Jet Fuel:

Assessment Name
2023 netback/net-forward formula
Jet FOB Med Cargo (AAIDL00)
2023 WS rate for Augusta-Rotterdam, inclusive of Rotterdam port fees

Please send any questions or comments to Europe_products@spglobal.com with a cc to pricegroup@spglobal.com.