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Platts to launch new assessments for USGC distillate waterborne markets

S&P Global Platts will launch 14 new assessments to better reflect trading activity and provide more transparency for diesel, gasoil and jet fuel waterborne markets on the US Gulf Coast, effective September 1.

Five assessments will reflect activity for the most common distillate products exported from the USGC and delivered across Latin America: jet fuel A, jet fuel A-1, EN590 diesel, Brazilian S10 diesel, and Mexican specification ULSD.

This decision follows a subscriber note published July 9: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/070920-platts-proposes-new-assessments-for-usgc-distillate-waterborne-markets

The growing importance of US supply, especially to Latin America, has made these prices increasingly important to export markets, particularly for buyers who import these barrels.

These assessments will reflect the price for loading and quality on an FOB basis in Houston, 7-21 days forward from the day of publication. They will be published as differentials to the forward value of Platts USGC pipeline assessments for jet and ULSD, as represented by forward strips covering each of the delivery dates for these products.

The value of these forward strips, assessed using Platts USGC swaps assessments, will also be published for diesel and jet fuel on three different laycans, for a total of six new assessments.

These differentials are a core part of numerous assessments Platts already publishes for the USGC and Caribbean, and for fuel delivered to Latin America. The corresponding relationships for these new differentials to current assessments are as follows:

Differential
Current assessments
Laycan
Jet A
Jet CIF Eastern Mexico
21-Jul
Jet CIF Rosarito
21-35
Jet CIF Lazaro Cardenas
21-35
Jet A-1
CFR Brazil cargoes
15-30
Brazil jet IPP
N/A
Caribbean cargo
21-Jul
Mexico ULSD
Jet CIF Eastern Mexico
21-Jul
ULSD CIF Rosarito
21-35
ULSD CIF Lazaro Cardenas
21-35
Brazil ULSD
CFR Brazil cargoes
15-30
Brazil ULSD IPP
N/A
EN590 ULSD
USGC cargo
21-Jul

Additionally, Platts will publish three assessments for the domestic USGC barge spread for diesel, jet fuel and No. 2 gasoil against the respective prompt Colonial Pipeline assessment. These spreads will represent barges already assessed by Platts for 50,000-125,000 barrels loading 10-18 days from the day of publication. The list of assessments Platts will publish is as follows:

Assessment
Code
Jet USGC waterborne spread
AUSGL00
No. 2 gasoil USGC waterborne spread
AUSGM00
ULSD USGC waterborne spread
AUSGN00
Jet A-1 USGC differential
AUSGD00
Jet A USGC differential
AUSGC00
Mexico USGC ULSD differential
AUSGH00
Brazil USGC ULSD differential
AUSGA00
EN590 USGC ULSD differential
AUSGB00
ULSD USGC 7-21 day strip
AUSGK00
ULSD USGC 15-30 day strip
AUSGI00
ULSD USGC 21-35 day strip
AUSGJ00
Jet USGC fuel 7-21 day strip
AUSGG00
Jet USGC fuel 15-30 day strip
AUSGE00
Jet USGC fuel 21-35 day strip
AUSGF00

These assessments will appear on Platts Global Alert pages 156, 164, 470, 430, 480, 481, 482; US Marketscan, Latin Wire and Oilgram Price Report; as well as the Platts price database under the codes above.

Please send any further comments or questions to americas_products@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 to the public upon request.