Platts to launch Asia renewable diesel FOB Straits, FOB China assessments Oct. 26

Platts, part of S&P Global Energy, will launch daily renewable diesel (RD), also known as Hydrotreated Vegetable Oil (HVO), price assessments basis FOB Straits of Malacca and FOB China, effective Oct. 26, 2026.

Platts proposed these assessments Sept. 7.

The decision follows Platts' observation of growing liquidity in RD (HVO) exports from the Straits of Malacca region and from China, driven by increased refinery capacity, demand from Europe, and policies aimed at decarbonizing road transportation.

Data compiled by Platts indicate that China exported about 271,000 metric tons of RD in the first half of 2026, while exportable production capacity exceeds 3 million metric tons. Exportable capacity in Southeast Asia is concentrated in Singapore, Malaysia, and Thailand.

RD FOB Straits

The Platts RD FOB Straits assessment will reflect a parcel size of 5,000-10,000 mt loading 25-45 days forward from the date of publication. Cargoes outside these parameters may be considered and normalized for the assessment.

The assessment will reflect cargoes loading on an FOB Straits of Malacca basis from Singapore, Port Klang, and Tanjung Langsat. Cargoes loading from other Southeast Asian locations, such as Indonesia, may be considered and normalized to the basis locations.

RD FOB China

The European Commission (EC) has imposed different levels of antidumping duties (ADD) on biodiesel (FAME and RD/HVO) imports produced by different Chinese companies from February 2025. The ADDs are expressed as a percentage of the CIF Union frontier price (duty unpaid).

Data compiled by Platts indicated that about 91% of Chinese RD (HVO) exports in H1 2026 were destined for Europe, and the majority of the Chinese exports to the EU are subject to the highest, i.e., 35.6%, ADD.

No comparable ADDs apply to Chinese RD (HVO) exports to other destinations.

Given the importance of Europe as the primary destination for Chinese RD (HVO) exports, the RD (HVO) FOB China assessment will establish a consistent producer-duty basis when comparing market information, reflecting cargoes supplied by producers subject to the highest applicable European Commission ADD at the time of assessment. Pricing information associated with cargoes subject to lower or zero ADDs may be considered and normalized.

The assessment will reflect a parcel size of 3,000-10,000 mt loading 25-45 days forward from the date of publication. Cargoes outside these parameters may be considered and normalized for the assessment.

The assessment will reflect cargoes loading on an FOB China basis from the Port of Jiaxing, Lianyungang, Zhangjiagang, or Rizhao. Cargoes loading from other Chinese ports, including Tianjin, Dongying, Shanghai and Qinzhou, may be considered and normalized to the basis locations.

Both the FOB Straits and FOB China assessments will reflect RD made from UCO that complies with the EU Renewable Energy Directive and achieves a minimum 85% greenhouse gas savings compared with a fossil fuel comparator of 94 g CO2 equivalent/MJ. RD made from other Annex IX B feedstocks may also be considered and normalized.

Both assessments will reflect RD with a maximum cold filter plugging point of minus 10 degrees Celsius.

Units and sustainability documentation

Following market observations, the RD prices will be published as an outright price in US dollars per metric ton, and converted into US dollars per cubic meter rather than into $/bbl as initially proposed.

The assessments will reflect products accompanied by Proof of Sustainability (PoS) documentation issued under voluntary schemes approved by the European Commission. Market participants will be expected to provide all necessary documentation for PoS within a reasonable timeframe.

Assessment process

The assessments will consider 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 spot market data, Platts may consider related market indicators, including freight netbacks from the Platts European RD-A and RD-B FOB FARAG (Flushing-Amsterdam-Rotterdam-Antwerp-Ghent) assessments (ANEWA00 & ANEWB00), the Asia neat sustainable aviation fuel FOB Straits and FOB China assessments (SFSMT00 & SFSHD00), RD feedstock costs, and other related market information.

The assessments will reflect a 16:30 Singapore timestamp and follow the Singapore publishing schedule.

The assessments will be published on fixed page 2013 of Platts Biofuels Alert, on fixed pages 1410 and 1411 of Platts Global Alert and Platts Refined Products Alert, and in Biofuelscan, Fuel Ethanol Report, Biomass-Based Diesel Report, Oilgram Price Report, Asia-Pacific/Arab Gulf Marketscan and the Platts database.

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

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.