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lending premium over standard heating oil grades such as<br />

DIN.<br />

Size: The 0.2 RGO assessment reflects full- or part- cargoes of 25-<br />

30,000 mt.<br />

Location: The assessment is CIF ARA basis Antwerp with normal<br />

CP options within NWE calculated pro rata at cost.<br />

Timing: Reflects material for delivery 10-25 days from date of<br />

publication, with prices normalized to the mid-point of this<br />

delivery window.<br />

Other: N/A<br />

Background: The assessment was introduced on July 1, 2004.<br />

Dispatch Category EB<br />

12 Char. Symbol AAOQZ0000000<br />

9 Char. Symbol(s) ·<br />

7 Char. Symbol AAOQZ00<br />

Earliest Date 01-JUL-2004<br />

Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR<br />

Description Russian Gsl 0.2 CIF ARA $/Mt<br />

POAAA00 GASOIL 0.2% CARGOES CIF MED<br />

Quality: The assessment reflects generally merchantable qualities<br />

for heating oil use. Russian material meeting these qualities<br />

would typically be included in the assessment. Grades which are<br />

not widely merchantable, (for instance because of low cetane or<br />

above normal water content), may not be reflected in the<br />

assessments.<br />

Size: Cargo assessments reflect parcels of 25,000-30,000mt each.<br />

Location: CIF assessment is are basis Genoa with normal CP<br />

options considered.<br />

Timing: Reflects material for delivery 10-25 days from date of<br />

publication, with prices normalized to the mid-point of this<br />

delivery window.<br />

Other: N/A<br />

Background: The assessment was introduced in December 1991.<br />

Before that, 0.3% maximum sulfur gasoil was reflected.<br />

Dispatch Category EB<br />

12 Char. Symbol PRP202GNABHV<br />

9 Char. Symbol(s) PPD2MGDCH · PPD2MGDCL<br />

7 Char. Symbol POAAA00<br />

Earliest Date 16-DEC-1991<br />

Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR<br />

Description Gasoil 0.2 CIF Med Cargoes<br />

METHODOLOGY GUIDE GASOIL<br />

EUROPEAN PRODUCTS<br />

24<br />

POAAB00 GASOIL 0.2% CARGOES FOB MED<br />

Quality: The assessment reflects generally merchantable qualities<br />

for heating oil use. Russian material meeting these qualities would<br />

typically be included in the assessment. Grades which are not<br />

widely merchantable, (for instance because of low cetane or above<br />

normal water content), may not be reflected in the assessments.<br />

Size: Cargo assessments reflect parcels of 25,000-30,000mt each.<br />

Location: Platts in 2002 formalized that the basis of its 0.2%<br />

FOB Med assessment includes material from Black Sea ports,<br />

when these form a significant part of the trade.<br />

Timing: Reflects material for delivery 10-25 days from date of<br />

publication, with prices normalized to the mid-point of this<br />

delivery window.<br />

Other: The FOB assessment is typically calculated as a freight<br />

netback from the Genoa and Lavera, using a worldscale rate<br />

published in Platts Clean Tankerwire and a basket of flat rates<br />

including typical routes within the Mediterranean from Black Sea<br />

ports. The routes include origin ports Tuapse, Novorossiysk,<br />

Batumi and Odessa and destination ports Genoa/Lavera. Effective<br />

Jan 2, 2008 the Worldscale basketflat rate used to calculate FOB<br />

Med 0.2 assessment is $9.03. FOB Med gasoil 0.2% is assessed as a<br />

freight differential to the CIF Med gasoil 0.2% assessment. The<br />

actual freight applied to the netback will fluctuate daily based on<br />

changes in Platts BSea-Med assessments in the Clean Tankerwire<br />

for 30,000 mt cargoes applied against the respective 2008 flat<br />

rates.<br />

Background: The assessment was introduced in December 1991.<br />

Before that, 0.3% maximum sulfur gasoil was reflected.<br />

Dispatch Category EB<br />

12 Char. Symbol PRP202MEDBHX<br />

9 Char. Symbol(s) PPD2MISCH · PPD2MISCL<br />

7 Char. Symbol POAAB00<br />

Earliest Date 04-JAN-1993<br />

Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR<br />

Description Gasoil 0.2 FOB Med Cargoes<br />

POAAG00 GASOIL 0.2% BARGES<br />

Quality: The barge assessments represent heating oil grades with<br />

a specific gravity of 0.845 g/ml with a maximum sulfur content<br />

of 0.2%.<br />

Size: Platts increased the minimum assessable barge volume<br />

from 1,000mt to a range of 1,000-2,000mt where the buyer has<br />

the option to choose the actual volume. However, the buyer has<br />

the obligation to specify the actual volume at the time of the<br />

deal. Platts will continue to include in the assessment process<br />

transactions of up to 5,000mt.

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