Platts to extend publication schedule for Asia balance-month oil derivative assessments

S&P Global Platts will extend the publication schedule for its balance-month (balmo) derivative assessments for FOB Singapore gasoil, jet fuel, 180 CST high sulfur fuel oil, 380 CST high sulfur fuel oil and Marine Fuel 0.5%, effective Oct. 18, 2021.

Platts will publish these balance-month derivative assessments from the first publication day of the month up to and including the fifth last publication day of the month. Platts currently publishes these assessments from the first publication day of the month up to the fifteenth of the month.

Platts proposed this change, with an initial launch date of Oct. 1, in a subscriber note published Aug. 19:

Under this change, for example in October 2021, when the last publication day for the month is Oct. 29, Platts will publish balance-month derivatives assessments from Oct. 1 up to and including Oct. 25. In December 2021, the last publication day for these balance-month assessments would be Dec. 24, to account for the Christmas holiday (observed) on Dec. 27. All of these prices are assessed basis 4:30 pm Singapore time and follow the Singapore publishing schedule.

The extension will align the publication schedule for balance-month derivative assessments with the physical Market on Close assessment process for these products, where Platts currently publishes floating bids, offers and trades for physical cargoes pricing on the basis of balance-month derivatives, up until the fifth last publication day of the month.

As part of this change and to provide further transparency, from October 2021, Platts will use the published balance-month derivative assessments to value floating price bids, offers and trades priced on that basis in the Singapore oil Market on Close assessment process.

There will, however, be no change to the Mean of Platts Singapore Strip methodology, and the calculation of the MOPS strips remains unchanged. In these markets, Platts will continue to use balance month and Month 1 swaps to calculate the MOPS Strip value until the fifteenth calendar day of the month, following which Month 1 and Month 2 derivatives are used to calculate the Strip.

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