After extensive feedback, Platts has amended the cargo size reflected in its Middle East naphtha spot cargo differential assessment to 25,000-75,000 mt from the current 25,000 mt, effective January 2, 2019.
This decision was published on November 20, 2018. The subscriber note is available here: https://www.platts.com.es/subscriber-notes-details/27061998 Platts has no plans to change or amend the methodology for its outright FOB Arab Gulf naphtha netback assessment.
Instead, Platts is changing the methodology for the FOB Arab Gulf Naphtha premium/discount differential (AAPKH00) assessment. Platts will consider bids, offers and trades of cargoes ranging from 25,000 mt to 75,000 mt for the assessment. The final cash differential will be normalized to reflect 50,000 mt parcel sizes.
Platts currently publishes two FOB AG outright assessments, which reflect freight netbacks from CFR Japan for 55kt and 75kt vessel sizes. This methodology will remain unchanged.
Cargoes loading from the following Gulf ports will be considered for inclusion in the assessments: Jubail, Jebel Ali, Mina Al Ahmadi, Quoin Island, Shuaiba, Ras Tanura, Ruwais, Mina Abdulla, Sohar, Bahrain, Fujairah, Ras Laffan, and any safe and sound port within this geographic area.
Platts will only publish offers where sellers specify at least one and no more than three representative load points and will only publish bids where buyers specify at least three representative load points.
For all trades reported through the Platts Market on Close process for the above assessments, 10 days prior to loading, the seller would declare the terminal.
Seven days prior to loading, the buyer would nominate the vessel, and narrow the loading window to three days, subject to terminal acceptance.
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