SUBSCRIBER NOTE: Platts 2016 European fuel oil freight netback rates

Effective January 4, 2016, the Worldscale flat rate used to calculate the netback formulas for FOB Med 1% and 3.5% fuel oil cargoes will be $6.35/mt. Unless otherwise demonstrated, the Worldscale flat rate used to calculate the netback formulas for CIF NWE 1% fuel oil cargoes will be $6.26/mt, and for FOB NWE 3.5% fuel oil cargoes the Worldscale flat rate will be $7.52/mt. Unless otherwise demonstrated, CIF Med 1% fuel oil cargoes will be calculated using the Antwerp-Milazzo flat rate of $10.41/mt from 1% FOB NWE cargoes. Please send all feedback and questions to europe_products@platts.com, with a cc to pricegroup@platts.com.