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asis on an incremental freight differential basis into the main consuming area, which is typically Germany. Size: Barge assessments reflect parcels of 1,000-5,000mt each. Timing: Reflects material for loading 3-15 (Monday-Tuesday) or 5-15 (Wednesday through Friday) days from date of publication, with prices normalized to the mid-point of this loading window. Other: N/A Background: The assessment has reflected 10 ppm maximum sulfur since 2 January 2003. Platts introduced experimental 10ppm barge assessments for the above, effective 1 October to 31 December 2002 to run in tandem with 50ppm barge assessments. Platts has made a number of changes in recent years in the maximum sulphur content in line with EU regulations on gasoline quality. Effective Jan 2, 2002, the sulfur content of the assessment for Regular Unleaded barges became 50ppm in line with premium unleaded. On 1 October 2001, Platts introduced the assessment for ultra low sulfur 50ppm regular unleaded barges as a separate experimental assessment to run until 31 December 2001, when the new quality was reflected in the main assessment. Dispatch Category EB 12 Char. Symbol PRPGU$RTTCIP 9 Char. Symbol(s) · 7 Char. Symbol PGADE00 Earliest Date 02-APR-1987 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Reg Unl FOB R'dam Barges AALBJ00 GASOLINE BARGE QUALITY DIFFERENTIAL Quality: The assessment reflects the differential between 10 ppm and 50 ppm material Size: 1,000-5,000 mt parcels Location: FOB ARA basis Rotterdam Timing: 3-15 (Monday-Tuesday) or 5-15 (Wednesday through Friday) days from date of publication Other: The mid-point of the differntial is used to establish the value of the Prem 50 ppm assessment. Background: Effective 2 January 2003, Platts introduced an assessment of the differential of prem unl 50ppm to prem unl 10ppm barges, basis FOB Rotterdam. METHODOLOGY GUIDE GASOLINE EUROPEAN PRODUCTS Note: Platts has proposed to discontinue the 50 vs 10ppm barge differential assesment, effective Jan 1 2005 and has invited feedback on this proposal. Dispatch Category EB 12 Char. Symbol AALBJ0000000 9 Char. Symbol(s) · 7 Char. Symbol AALBJ00 Earliest Date 02-JAN-2003 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Barge Differential 50 PPM-10 PPM 12 PHAKZ00 MTBE BARGES Quality: Platts quotes MTBE in Rotterdam complying with T2 (duty paid) status. In Northwest Europe, the quote is for product with a minimum purity of 98%, a maximum water content of 1,000 ppm and a maximum methanol content of 1.5% of the total weight. Location: Northwest European assessments reflect sales made on an FOB Rotterdam basis, and no adjustments are made to reflect handling costs. Size: The assessment reflects barges of 1,000-5,000 mt. Cargoes of a minimum 5,000 mt may be taken into account, with values netted back to a FOB Rotterdam basis. Smaller lots are only used as a guide in the absence of any deals. All FOB assessments are for product ex-refinery, ex-storage, and ex-terminal in the Rotterdam area. Aside from specific details listed above in Basis and Location, all other business concluded on the basis of FOB ARA or other northwest ports is used only as a guide. Timing: Assessments for MTBE are 3-15 days forward. Other: Daily MTBE assessments are published in European Marketscan and Platts Petrochemical Alert. The Friday daily assessments also appear in the Platts Europe & Americas regional editions of Platts Petrochemical Scan. Weekly Averages: Platts publishes weekly averages for daily MTBE assessments in Northwest Europe. These appear in Platts Europe & Americas Petrochemical Scan published on Fridays. These averages represent an arithmetic average of the daily assessments as published in Platts Petrochemical Alert. Dispatch Category EB 12 Char. Symbol PCPMTBRTTANE 9 Char. Symbol(s) PHYPRTAAH · PHYPRTAAL 7 Char. Symbol PHAKZ00 Earliest Date 22-JUN-1992 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description MTBE FOB AR MOC
AAYDT00 (FOB) ; AAYDS00 (CIF) ETHANOL (FUEL GRADE) Basis and Locations: Prices are assessed daily on a FOB Rotterdam T2 (duty paid for European origin material) basis in Euro/cubic meters, and CIF NWE T1 (duty unpaid) basis in $/cubic meter. Assessments reflect prices for loading Platts' barge dates (3-15 days forward Monday-Tuesday and 5-15 days forward Wednesday-Friday) for FOB Rotterdam T2 and 10-25 days forward from the date of publication for CIF NWE T1 cargoes. Standard cargo size: Typical 1,000mt to 2,000mt for FOB Rotterdam T2 barges and minimum 3,000 mt for CIF NWE T1 cargoes. Conversion metric tons to cubic meters: 0.7925. Product Purity Specification: Assessments are for anhydrous undenatured ethanol conforming with the European standard prEN 15376 specifications. These include: ■ Minimum ethanol content + higher saturated alcohol: 98.7% ■ Maximum higher saturated (C3-C5) mono-alcohol content: 2.0% ■ Maximum water content by mass: 0.3% ■ Maximum methanol content: 1.0% NAPHTHA PAAAL00 NAPHTHA CARGOES CIF NWE Quality: The CIF NWE cargo assessment reflects open spec material with a min 65 paraffin content and a typical specific gravity of 0.69 to 0.73 g/ml. Other qualities – for instance 70-min paraffins and pipe spec — may be taken into account when traded but these may command a premium or discount to cargoes fitting Platts’ typical specifications. The assessment is always normalized to the open spec quality naphtha and any market indicator that fits those parameters overrides signals stemming from other quality cargoes. The premium or discount to be applied will be at the reporter’s discretion, based on relevant market activity. Platts products assessments are based on merchantable grades. Bids/offers that exclude legitimate supply sources may be deemed restrictive and excluded from the assessment process. As an example, naphtha bids that exclude Tees as a supply source can not be taken into account for assessment purposes. Likewise, naphtha with larger than normal mercury levels may not be considered in the assessment process. The maximum mercury considered in the assessment is 5 parts per billion. Size: The physical assessments reflect parcels of 12,500 mt +/- a maximum 10% operational tolerance, full or part-cargo. A cargo meeting these volume specifications meets the standard and overrides signals stemming from other cargo sizes. Specific volumes in the range 10,000-15,000 mt with a maximum 10% operational tolerance, full or part-cargo, may be considered in the assessment if any other clear indicators are lacking. Other METHODOLOGY GUIDE GASOLINE / NAPHTHA EUROPEAN PRODUCTS cargo sizes —for example 10-15,000 mt sellers’s option or cargoes up to 30,000 mt may be taken into account when traded but these may command a premium or discount to cargoes fitting Platts’ typical specifications. The premium or discount to be applied will be at the reporter’s discretion, based on relevant market activity. Location: CIF basis Rotterdam. Where part-cargoes are delivered CIF basis Rotterdam, it is assumed that the buyer should not be disadvantaged by the seller’s decision to not deliver a full cargo. Therefore Platts will tend to reflect deals in which charter party and demurrage paid by the buyer is on a pro-rata basis to destinations in NWE, even when these are outside the ARA range. Timing: Reflects material for delivery 10-25 days from date of publication, with prices normalized to the mid-point of this delivery window. Effective June 15, 2005, Platts changed its naphtha CIF NWE cargo assessment process to consider bids, offers and transaction where seller has the obligation to nominate vessel three days prior to the first day of the delivery laycan. The editorial standard up to June 14 wasto reflect the ship nomination 5 calendar days prior to the first day of the laycan. Platts will continue to reflect bids, offers and transactions made on a five day delivery window where the seller has the obligation to narrow down to a three day delivery window five days prior to the first day of the laycan. In addition, Platts will consider transactions where the expected quality and quantity of the cargo is disclosed 3 days prior to the first day of the delivery laycan with final quality and quantity is disclosed as soon as possible. Other: Platts recognizes that certain companies have legal constraints that prevent them trading with certain counterparties, or taking material from certain origins. Platts will consider bids and offers under standard industry terms and conditions, including those which are consistent with national legislation, for instance for US companies which are unable to trade in materials of certain origin. Platts accepts bids and offers on either a fixed price or a floating (quotes-linked) basis. Platts may incorporate such quotes-linked indications in making its physical assessments, by adding spot differentials or discounts to the underlying swaps, normalized using the time gradient of the market. Fixed price and floating price indications will in general be normalized to reflect the midpoint of the loading/delivery ranges assessed. Dispatch Category EB 12 Char. Symbol PRPNPHNWECQC 9 Char. Symbol(s) PPNANEDDH · PPNANEDDL 7 Char. Symbol PAAAL00 Earliest Date 19-NOV-1990 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Naphtha CIF NWE Physical 13 PAAAJ00 NAPHTHA PAPER CIF NWE The assessment reflects swap market values for one month ahead
Page 1 and 2: ] www.platts.com Methodology and Sp
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Page 5 and 6: EUROPEAN MARKETSCAN ASSESSMENTS MET
Page 7 and 8: In the past, Platts has tended to t
Page 9 and 10: gravity of 0.755 g/ml. The Motor Oc
Page 11: Size: Barge assessments reflect par
Page 15 and 16: Background: In the past, Platts has
Page 17 and 18: published by Worldscale. Effective
Page 19 and 20: Quality: The ULSD CIF NWE assessmen
Page 21 and 22: AAJUS00 DIESEL 10 PPM BARGES Qualit
Page 23 and 24: Size: Cargo size is for full cargoe
Page 25 and 26: Location: FOB basis Rotterdam. Tran
Page 27 and 28: PUAAM00 FUEL OIL 1% CARGOES FOB NWE
Page 29 and 30: Other: The FOB NWE assessment may b
Page 31 and 32: AAHMX00 VGO 0.5-0.6% CARGOES FOB NW
Page 33 and 34: LPGASWIRE EUROPEAN ASSESSMENTS Plat
Page 35 and 36: METHODOLOGY GUIDE LPG Quality: Both
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Barges FOB Rotterdam, 10 PPM Barges
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contractual terms, the seller shoul
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METHODOLOGY GUIDE ppm sulfur. This
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METHODOLOGY GUIDE 23-Jan-2006 Follo
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METHODOLOGY GUIDE APPENDIX VI: DISC
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METHODOLOGY GUIDE cargoes became 0.
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