Platts proposes daily CFR SE Asia and CFR Singapore ammonia assessments, also proposes to amend CFR Far East ammonia assessments

Platts, part of S&P Global Commodity Insights, is proposing the launch of daily spot CFR Southeast Asia and CFR Singapore ammonia assessments, effective March 24.

The proposed CFR Singapore assessment would provide a useful reference for the burgeoning market for ammonia as a bunker fuel in the country, while the proposed CFR Southeast Asia ammonia assessment would allow Platts to shed greater light on the dynamics of the spot market for ammonia in countries such as Vietnam, Thailand, Indonesia, and the Philippines.

Simultaneously, Platts proposes to narrow the location specification of its daily and weekly CFR Far East ammonia assessments to Mainland China, Taiwan, South Korea and Japan, and removing Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

Specifications for the proposed CFR Southeast Asia and CFR Singapore assessments are detailed below:

Assessment Name: Ammonia CFR Southeast Asia

Quality: Anhydrous ammonia, which is around 82% Nitrogen and stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: Basis 3,500-6,000 mt, with relevant price information normalized to this point.

Basis and location: Spot cargoes only. Basis location Haiphong, Vietnam. Price information relating to other ports in Vietnam, Thailand, the Philippines, Indonesia, Malaysia and Singapore may be considered and normalized, where necessary, to basis Haiphong

Timing: Delivery one to six weeks forward

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

Assessment Name: Ammonia CFR Singapore

Quality: Anhydrous ammonia, which is around 82% Nitrogen and stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: Basis 3,000-4,000 mt, with relevant price information normalized to this point.

Basis and location: Spot cargoes only. Basis location Singapore. Price information relating to other ports in Southeast Asia may be considered and normalized, where necessary, to basis Singapore

Timing: Delivery one to six weeks forward

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

Under the part of the proposal aimed at narrowing the location specification of its daily and weekly CFR Far East ammonia assessments, the specifications for those assessments would subsequently read as follows:

Assessment Name: Ammonia CFR Far East – daily ( FAFAA00)

Quality: Anhydrous ammonia, which is around 82% Nitrogen and is stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity.

Quantity: 6,000-15,000 mt

Basis and location: Spot cargoes only. Ammonia-importing ports/terminals in Mainland China, Japan, South Korea, Taiwan.

Timing: Delivery one to six weeks forward.

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

Assessment Name: Ammonia CFR Far East – weekly ( FAFAA04)

Quality: Anhydrous ammonia, which is around 82% Nitrogen and stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity.

Quantity: Minimum 4,000 mt

Basis and location: Spot and contract. Ammonia-importing ports/terminals in Mainland China, Japan, South Korea, Taiwan.

Timing: Delivery one to six weeks forward.

Frequency: Weekly

Unit of assessment: $/mt

Timestamp: 4:30 pm Penang close, published according to the Penang publishing calendar

The proposed daily CFR Southeast Asia and CFR Singapore assessments would appear in the Platts Fertecon Daily publication, the Ammonia Market Report each Thursday, and would also be available via Platts Connect.

The adjusted weekly CFR Far East assessment would continue to appear in the Ammonia Market Report Publication and be available via Platts Connect, while the daily CFR Far East assessment would continue to appear in the Platts Fertecon Daily PDF and be available via Platts Connect.

Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com by Feb. 21.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

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