S&P Global Platts is proposing the inclusion of Jiangyin port as a delivery location for the CFR Taiwan/China paraxylene Market on Close (MOC) assessment process from January 2, 2020.
Platts first proposed the inclusion of Jiangyin port through a subscriber note dated September 4, 2019: http://plts.co/8gRa30pCdC2
Jiangyin has over the last few years seen an increase of PX deliveries, with the number of spot purchases having increased amid burgeoning purified terephthalic acid production.
The proposal to include Jiangyin as a delivery location will add to the ports currently reflected in the CFR Taiwan/China MOC assessment process, namely standard Taiwan ports, Ningbo and Dalian.
Platts would like to remind market participants that sellers in the MOC process are responsible for providing a ship that is able to physically berth at the nominated terminal, while the buyer remains responsible for nominating a terminal that can receive ships above 10,000 dwt. This proposed change in methodology follows market feedback and the fact that deliveries of paraxylene to Jiangyin port have grown significantly, given unrestricted access to any terminal in Jiangyin.
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