Platts updates sustainable aviation fuel FOB Straits assessment Feb 2

Platts, part of S&P Global Energy, has updated its daily FOB Straits neat sustainable aviation fuel freight netback assessment to a market-based price assessment, effective Feb. 2.

The update follows observations of a growing supply of SAF in the Straits of Malacca region, driven by the transition to low-carbon fuels following the development of the Carbon Offsetting and Reduction Scheme for International Aviation, or CORSIA, coupled with increasing country-level SAF targets. The current annual production capacity for this region is close to 1.9 million metric tons of SAF, according to Platts, with additional announced capacity coming online in the near future. The new market-based price assessment aligns with the increasing need for pricing transparency in the region.

The updated assessment considers market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process. In the absence of neat SAF spot market data, Platts may also take into consideration the freight netback value of the Platts CIF Northwest European neat SAF cargo assessment (AJNWD00), the cost of SAF feedstocks and other adjacent markets, such as renewable diesel (HVO) and China-exported SAF.

Platts launched the FOB Straits neat SAF netback assessment Oct. 1, 2024. More details can be found here.

The updated assessment reflects a parcel size of 5,000-10,000 mt, loading 15-30 days forward from the date of publication. Other volumes may be taken into consideration and normalized to the assessed range. SAF vessels loading out of the Straits could consist of multiple cargoes or be commingled with other compatible products.

The updated assessment remains on an FOB Straits basis. Other locations within Southeast Asia, such as Indonesia and Thailand, will be considered for the assessment but may be normalized to reflect the Straits basis.

The assessment reflects ASTM D7566 standard specifications for synthesized paraffinic kerosene from hydroprocessed esters and fatty acids (SPK-HEFA), as referenced in Annex A2, with a relative density of 760 kg/cu m (at 15 degrees Celsius). The assessment reflects SAF produced from Renewable Energy Directive-compliant feedstocks, excluding palm fatty acid distillates and category 3 tallow, and reflects minimum greenhouse gas savings of 80%. Other GHG savings levels, such as 85% GHG savings, will be considered but may be normalized to the minimum basis level. The assessment reflects ISCC EU-certified cargoes. ISCC CORSIA-certified cargoes will also be considered, but may be normalized.

Platts also publishes a SAF FOB Straits premium versus the Platts Jet Kero FOB Spore assessed forward strip (AAPJZ00), including a conversion to $/mt. The forward strip, also known as the MOPS strip, is defined as the average of the forward values for jet kero loading 15 to 30 days forward from Singapore, coinciding with the same loading dates reflected in the SAF FOB Straits assessment.

The specifications of the SAF FOB Straits premium are the same as the outright price mentioned above.

The assessments and the symbols are:

The updated market-based assessment is published as an outright price in $/mt under the symbol SFSMT00, and in $/b under the symbol SFSBB00, by applying a metric ton to barrel conversion factor of 8.276.

The change in methodology was first proposed in a subscriber note published Nov. 27, 2025, available here.

The decision was communicated in a subscriber note published Dec. 29, 2025: Platts to update SAF FOB Straits assessment Feb 2 | S&P Global.

The SAF FOB Straits assessments and the new premium assessments are published on fixed pages 2013 of Platts Biofuels Alert, on fixed pages 1410 and 1411 of Platts Global Alert and Platts Refined Products Alert, and in the following publications: Biofuelscan, Fuel Ethanol report, Biomass-Based Diesel report, Oilgram Price report, Platts European Marketscan, Platts US Marketscan, Asia-Pacific/Arab Gulf Marketscan and in the Platts database. The SAF FOB Straits assessments are no longer published on fixed page 1013, effective Feb. 2.

Please send any questions, comments, or feedback to platts_biofuels@spglobal.com and pricegroup@spglobal.com.

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