SUBSCRIBER NOTE: Freight netback for Azeri Light FOB Ceyhan in 2015

Effective January 2, 2015, the Worldscale flat rate used to calculate the freight netback to the Azeri Light CIF Augusta assessment for Azeri Light 135,000 mt FOB Ceyhan, Azeri Light 80,000 mt FOB Ceyhan, and Azeri Light BTC FOB Ceyhan will be $8.20 per metric ton.

The flat rate for Azeri Light 135,000 mt FOB Ceyhan, Azeri Light 80,000 mt FOB Ceyhan will be adjusted using the Worldscale rate published in the Platts Dirty Tankerwire for a 135,000 mt Suezmax and an 80,000 mt Aframax Ceyhan to Augusta route respectively.

The flat rate for Azeri Light BTC FOB Ceyhan will be adjusted using the average of the worldscale rates published in the Platts Dirty Tankerwire for a 135,000 mt Suezmax and an 80,000 mt Aframax Med to Med route.

The conversion factor applied will be 7.45.

For methodology details, please contact europe_crude@platts.com with a cc to pricegroup@platts.com