Platts to update Asian UCOME assessment specifications

Platts, part of S&P Global Commodity Insights, will update some of the terms and specifications reflected in its assessments of UCOME FOB China and CFR Singapore with effect from Dec. 12, 2022.

Platts has received feedback from market participants that the Cold Filter Plugging Point (CFPP) specification reflected in its FOB China UCOME assessment is too high and might mean the assessment reflects material unsuitable for international trade.

Therefore, Platts will update its FOB China UCOME CFPP specification from maximum 8 degrees Celsius to maximum 5 degrees Celsius. Separately, Platts has observed an increase in transparent market information for UCOME parcels loading in and around Singapore and Malaysia. To better reflect this data, Platts will amend the basis reflected in its Singapore UCOME assessment from CFR Singapore to FOB Straits, amend its methodology from a calculation to a market assessment, and rename the assessment as FOB Straits UCOME.

Previously, the assessment was calculated as a net forward from the FOB China UCOME assessment based on the Clean South Korea-Singapore 30,000 mt MR $/mt freight rate.

As a result of this change, the assessment will reflect parcels loading 20-40 days forward from the date of publication in Straits ports as defined in Platts specifications guides, which includes Pasir Gudang and Singapore terminals. Loadings from Port Klang may also be reflected in the assessment but may be normalized for assessment purposes.

As a result of additional feedback received from the market, the assessment will reflect the UCOME meeting the EN14214 specification with the following specifications: maximum CFPP of 13 degrees Celsius, Sulfur content maximum 10 ppm, a maximum water content of 350 ppm, and minimum GHG savings of 84%. The assessment adheres to the ISCC certification scheme, in compliance with the EUs Renewable Energy Directive or RED requirements. It will also reflect German mandate (Nabisy) compliant material eligible for UK and Dutch double-counting. All material needs to be traceable and have right to audit provided by the seller.

The assessment will take into account volumes from 2,500 mt to 10,000 mt, but will be normalized to a standard size of 2,500 mt. In the absence of direct market liquidity, the assessment may reflect related market information, including FOB China UCOME, quality differentials and freight rates.

Platts first proposed to update its Asian UCOME assessment specifications on Oct. 18, 2022, with a proposed launch date of Nov. 29, 2022. To allow for additional time for feedback, the launch date has been moved to December 12, 2022. Platts first launched the FOB China UCOME assessment on Jan 18, 2021. Platts first launched the Singapore UCOME assessment on Aug 1, 2022.

Please send any comments, feedback, or questions to and For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.