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Price Assessment

FOB Singapore Gasoil Price Assessment

  • What is Platts FOB Singapore Gasoil?
  • How do we assess Platts FOB Singapore Gasoil?
  • Evolution of Platts FOB Singapore Gasoil

What is Platts FOB Singapore Gasoil?

The term 'Platts FOB Singapore Gasoil' refers to the physical price of gasoil loading on FOB Straits 15-30 days forward from the date of publication. Gasoil grades assessed by S&P Global Platts include 2500 ppm, 500 ppm, 50 ppm and 10 ppm sulfur gasoil.

The Gasoil benchmark price is the primary physical market pricing reference for gasoil loading or delivered to traders, refiners and end users in Asia. The current benchmark reflects 500 ppm sulfur gasoil, which has been assessed since July 17, 2000.

Underpinned by firm economic growth in Asia, demand for the multi-use fuel has grown and now Asia is a leading producer of gasoil as well as a key consumer, thus making the FOB Singapore Gasoil assessment a key pricing benchmark for the whole world.

Annual gasoil exports from the main regional refinery centers South Korea and India have risen to more than 20 million mt each, while large demand centers in Asia Pacific, such as Australia, see imports of similar volumes, data from the Joint Oil Data Initiative shows.

How do we assess Platts FOB Singapore Gasoil?

S&P Global Platts Singapore physical gasoil assessments reflect a minimum of 150,000 barrels, maximum 250,000 barrels, loading 15-30 days forward from the date of publication. Market participants should specify loading for a five-day date range at the time of submitting a bid of offer for publication in the assessment process.

Platts gasoil assessments are assessed on a Market on Close assessment process basis.

Evolution of Platts FOB Singapore Gasoil

S&P Global Platts began assessing 5,000 ppm FOB Singapore gasoil in the early 1980s. As regional demand grew and sulfur requirements in gasoil lowered, S&P Global Platts Singapore began adding assessments of more sulfur grades. The current sulfur benchmark – 500 ppm sulfur gasoil – was first assessed on July 17, 2000.

Other assessments include 2,500 ppm, which started a year earlier in 1999, and finally 10 ppm sulfur gasoil on November 3, 2008. Platts launched the latter assessment in response to key importers in the region lowering their sulfur standards to 10 ppm, notably Australia in 2008.

On September 6, 2016, Platts opened a formal consultation on lowering the sulfur specification in the benchmark gasoil assessments.

Following extensive feedback and market engagement, on December 5 S&P Global Platts announced that it will lower the sulfur specification of its flagship Singapore and FOB Arab Gulf Gasoil assessments to 10 ppm from the current 500 ppm from January 2, 2018.

From January 2, 2018, Platts FOB Singapore, FOB Arab Gulf, FOB Arab Gulf LR2 and FOB Korea Gasoil assessments will begin to reflect maximum 10 ppm sulfur. The following assessments and codes will be affected:

Assessment Codes

  • FOB Singapore Gasoil POABC00
  • FOB Arab Gulf Gasoil POAAT00
  • FOB Arab Gulf LR2 Gasoil AAKBT00
  • FOB Korea Gasoil POAIE00


Platts will also assess differentials and strips in these markets basis gasoil with maximum 10 ppm sulfur.

Note that Platts C+F Japan Gasoil assessment already reflects maximum 10 ppm sulfur gasoil.


Methodology and Specifications

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