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Other: The FOB NWE assessment is typically derived from the CIF value based on a freight differential representing freight costs for handy size vessels on typical routes within NWE.. Platts uses the $/mt for cross UK Cont vessels carried in Platts Clean Tankerwire, rounded to the nearest $0.25/mt. Background: DEFSTAN 91/91 was formerly referred to as DERD 2494. The UK Ministry of Defence has updated Defstan 91-91, the defining standard for Jet A1 in Europe, with the release Feb 8 of issue 5. Since Feb 8, 2005, Platts jet NWE and Mediterranean assessments have reflected issue 5 spec, having previously Platts reflected Defstan 91-91 issue 4 specification. Defstan 91/91 issue 4 was published June 14, 2002 and defined a sulfur limit of 0.3% maximum Dispatch Category EB 12 Char. Symbol PRPJK$NWECLU 9 Char. Symbol(s) PPJKNESCH · PPJKNESCL 7 Char. Symbol PJAAV00 Earliest Date 01-JUL-1986 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Jet Kero FOB NWE Cargoes PJABA00 JET BARGES FOB ARA Quality: The assessments reflect standard commercial Jet-A1 specifications, as defined by UK Ministry of Defence in DEFSTAN 91/91 latest issue. The UK Ministry of Defence has updated Defstan 91-91, the defining standard for Jet A1 in Europe, with the release Feb 8 of issue 5. Since Feb 8, Platts jet NWE and Mediterranean assessments have reflected issue 5 spec, having previously Platts reflected Defstan 91-91 issue 4 specification. Typical DEFSTAN specifications under issue 5 are as follows: Sulfur is 0.3% maximum, specific gravity is 0.775-0.840 g/ml, flash point is 38 degrees C minimum, freeze point is minus 47 degrees C maximum. Size: Barge assessments reflect parcels of 2,000-5,000mt each. Parcels of 1,000 mt are not considered in the assessment. Location: Jet barges are basis FOB Rotterdam. Any transactions occurring at other loading ports in NWE are typically normalized on a freight differential basis back to Rotterdam. Platts considers bids and offers from Rotterdam, Antwerp, Amsterdam, Ghent and Flushing. 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: DEFSTAN 91/91 was formerly referred to as DERD 2494. The UK Ministry of Defence has updated Defstan 91-91, the defining standard for Jet A1 in Europe, with the release Feb 8 METHODOLOGY GUIDE JET FUEL EUROPEAN PRODUCTS of issue 5. Since Feb 8, 2005, Platts jet NWE and Mediterranean assessments have reflected issue 5 spec, having previously Platts reflected Defstan 91-91 issue 4 specification. Defstan 91/91 issue 4 was published June 14, 2002 and defined a sulfur limit of 0.3% maximum Dispatch Category EB 12 Char. Symbol PRPJK$RTTCMC 9 Char. Symbol(s) PPJKRTSBH · PPJKRTSBL 7 Char. Symbol PJABA00 Earliest Date 03-SEP-1979 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Jet FOB R'dam Barges 16 AAIDL00 JET FUEL FOB MED Quality: The assessments reflect standard commercial Jet-A1 specifications, as defined by UK Ministry of Defence in DEFSTAN 91/91 latest issue and the Joint Fueling System Checklist. The Joint Fueling System Checklist requires jet fuel to meet the more stringent requirements of Defstan 91 91 5 and the American Society for Testing & Materials', Standard Specification D 1655- 04a. Typical DEFSTAN specifications under issue 5 are as follows: Sulfur is 0.3% maximum, specific gravity is 0.775-0.840 g/ml, flash point is 38 degrees C minimum, freeze point is minus 47 degrees C maximum. Size: 27.5 kt. Location: FOB Med basis Augusta Timing: Reflects material for delivery 10-25 days from date of publication, with prices normalized to the mid-point of this delivery window. Other: Details of the calculation methodology for Jet Fuel FOB Med are as follows: The calculation takes the spot Worldscale rate as published in Platts Marine Alert and Platts Clean Tankerwire, for jet fuel Med-Northwest Europe pro-rated from 30kt to 27.5kt. This total is multiplied by the flat rate Augusta- Rotterdam as defined by Worldscale, and the appropriate allowance for harbor dues at Rotterdam is then added. The result of this formula is rounded to the nearest $0.25/mt and subtracted from the mean of the CIF Northwest European jet assessment, to define the FOB Med mean. The spread low to high on the FOB Med is set $0.50/mt either side of this mean. Platts Marine Department assess the worldscale rate for jet cargoes for the route Med-Northwest Europe. The rate has been published on a daily basis in Platts Marine Alert and in the daily Clean Tankerwire, effective Nov 1, 2001. This rate is applied to determine the netback calculation of the FOB Mediterranean Jet Aviation Fuel assessment. Adjustments to the formula are made on the first working day of January each year to reflect updated Worldscale flat rates as
published by Worldscale. Effective Jan 3, 2006 the Worldscale flat rate Augusta-Rotterdam used to calculate the netback formula for FOB Med jet fuel became $7.24/mt. Background: DEFSTAN 91/91 was formerly referred to as DERD 2494. The UK Ministry of Defence has updated Defstan 91-91, the defining standard for Jet A1 in Europe, with the release Feb 8 of issue 5. Since Feb 8, 2005, Platts jet NWE and Mediterranean assessments have reflected issue 5 spec, having previously Platts reflected Defstan 91-91 issue 4 specification. Defstan 91/91 issue 4 was published June 14, 2002 and defined a sulfur limit of 0.3% maximum Effective Nov 1, 2001, Platts introduced a new FOB Mediterranean assessment entitled Jet Aviation Fuel. The Jet Aviation Fuel assessment was published at the bottom of the Mediterranean spot assessments table until April 30, 2003, after which it replaced Jet Fob Med in the main table. The Jet Av Fuel FOB Med assessment resulted from a proposal issued in June 2001 to more accurately reflect the cost of marine freight between the Med and NWE. Dispatch Category EB 12 Char. Symbol AAIDL0000000 9 Char. Symbol(s) · 7 Char. Symbol AAIDL00 Earliest Date 01-NOV-2001 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description AvJet Fuel FOB Med AAIDN00 MED JET FOB MED PREMIUM ASSESSMENT Quality: The assessments reflect standard commercial Jet-A1 specifications, as defined by UK Ministry of Defence in DEFSTAN 91/91 latest issue and the Joint Fueling System Checklist. The Joint Fueling System Checklist requires jet fuel to meet the more stringent requirements of Defstan 91 91 5 and the American Society for Testing & Materials', Standard Specification D 1655- 04a. Typical DEFSTAN specifications under issue 5 are as follows: Sulfur is 0.3% maximum, specific gravity is 0.775-0.840 g/ml, flash point is 38 degrees C minimum, freeze point is minus 47 degrees C maximum. Size: Cargo assessments reflect standard tradable parcels on MR size vesssels. Location: basis FOB Italy. Jet fuel from a wide geographic area bounded approximately by North Africa, Greece and Spain may form the basis of the assessment, with freight differentials applied to ensure consistency. Timing: Reflects material for delivery 10-25 days from date of publication, with prices normalized to the mid-point of this delivery window. METHODOLOGY GUIDE JET FUEL / ULSD EUROPEAN PRODUCTS Other: In line with Jet Fuel Subscriber Notes published in October and November 2001, Platts from Jan 2 2002 to Dec 31 2002 published an assessment to reflect the premium paid on a spot basis to FOB Med jet. From Jan 2 2003, the Platts premium assessment has reflected the premium paid to the Jet Aviation Fuel assessment. The premium assessed is for jet fuel cargoes meeting normal aviation fuel requirements. Platts clarified that the FOB Med jet premium is a separate assessment, and the premium will not be included in the formula used to calculate Jet Aviation Fuel. Background: DEFSTAN 91/91 was formerly referred to as DERD 2494. The UK Ministry of Defence has updated Defstan 91-91, the defining standard for Jet A1 in Europe, with the release Feb 8 of issue 5. Since Feb 8, 2005, Platts jet NWE and Mediterranean assessments have reflected issue 5 spec, having previously Platts reflected Defstan 91-91 issue 4 specification. Defstan 91/91 issue 4 was published June 14, 2002 and defined a sulfur limit of 0.3% maximum Dispatch Category EB 12 Char. Symbol AAIDN0000000 9 Char. Symbol(s) · 7 Char. Symbol AAIDN00 Earliest Date 02-JAN-2002 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description FOB Med Jet Prem Cargo ULSD Seasonal changes: Platts set out its schedule for changing the seasonal specification of diesel fuels in early spring and late summer, ahead of the switch from winter to summer and then summer to winter grades. Platts intends to follow broadly similar schedules each year, but the exact dates may be varied in line with prevailing patterns of refining activity and trading liquidity. As trading and seasonal patterns change from year to year, any schedule is provisional and subject to change with only limited notice. 17 AAKWP00 DIESEL 10 PPM CIF NWE Quality: The ULSD 10 ppm CIF NWE assessment reflectsGerman and UK quality diesel fuel with a maximum sulfur of 10 ppm normalized to reflect German quality diesel fuel. German and UK specs reflect a reference density of 0.845 g/l. Size: Typical cargo sizes of 10-20,000 mt are reflected. Platts currently normalizes to reflect the smaller end of the range of parcel-sizes as this is the prevailing cargo size traded at present. Platts monitors changes in shipping practices to ensure its assessments are in line with shipping logistics.
Page 1 and 2: ] www.platts.com Methodology and Sp
Page 3 and 4: METHODOLOGY GUIDE GENERAL TERMS AND
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 and 12: Size: Barge assessments reflect par
Page 13 and 14: AAYDT00 (FOB) ; AAYDS00 (CIF) ETHAN
Page 15: Background: In the past, Platts has
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
Page 37 and 38: Dispatch Category LI 12 Char. Symbo
Page 39 and 40: METHODOLOGY GUIDE APPENDIX EUROPEAN
Page 61 and 62: DATA CODES METHODOLOGY GUIDE APPEND
Page 63 and 64: Barges FOB Rotterdam, 10 PPM Barges
Page 65 and 66: contractual terms, the seller shoul
Page 67 and 68:
METHODOLOGY GUIDE ppm sulfur. This
Page 69 and 70:
METHODOLOGY GUIDE 23-Jan-2006 Follo
Page 71 and 72:
METHODOLOGY GUIDE APPENDIX VI: DISC
Page 73:
METHODOLOGY GUIDE cargoes became 0.
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