SUBSCRIBER NOTE: Freight netback for Urals ex-Baltic in 2014

Effective January 2, 2014, the Worldscale basket flat rate used to calculate the freight netback to the Urals CIF Rotterdam assessment for Urals ex-Baltic will be $8.78/mt. The basket of Baltic ports covers routes from Butinge, Ventspils and Tallinn. The flat rate will be adjusted using the worldscale rate published in the Platts Dirty Tankerwire for a 100,000 mt Aframax Baltic to UKC route. The conversion factor applied will be 7.23. Rotterdam harbor dues will be $0.14/barrel. For methodology details, please contact europe_crude@platts.com with a cc to pricegroup@platts.com or visit http://www.platts.com/methodology-specifications/oil for a full suite of Platts assessment methodologies.