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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.