Following a period of market feedback, S&P Global Platts has changed the delivery basis and laycan reflected in its US Gulf Coast light straight run naphtha assessment, with effect from February 3, 2020.
Platts understands that the LSR naphtha market has evolved in recent years to reflect more prompt laycans as well as a shift in trading basis from loading to delivering. Platts is updating its assessment to reflect these points.
Platts first proposed this change in a subscriber note published on December 5, 2019.
ASSESSMENT DELIVERY BASIS: Platts has changed the assessed delivery basis for USGC LSR naphtha barges to DAP (delivered at place) from an FOB basis.
ASSESSMENT LAYCAN: Platts has also changed the assessed laycan of its LSR naphtha barge assessment to three to 15 days forward compared with 10-30 days forward previously. Any bids, offers or trades outside of the assessed specifications or laycans may be normalized for assessment purposes.
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.