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Location: FOB basis Rotterdam. Transactions occurring at other
loading ports in NWE are typically normalized on a freight
differential basis back to Rotterdam.
Timing: Barge assessments reflect parcels for loading 3-15
(Monday-Tuesday) or 5-15 (Wednesday through Friday) days
forward, with prices normalized to the midpoint of these loading
ranges.
Other: N/A
Background: The assessment was introduced in September 1990.
Before that, 0.3% maximum sulfur gasoil was reflected.
Dispatch Category EB
12 Char. Symbol PRP202RTTBIH
9 Char. Symbol(s) PPD2RTSBH · PPD2RTSBL
7 Char. Symbol POAAG00
Earliest Date 03-SEP-1990
Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR
Description Gasoil 0.2 FOB R'dam Barges. AAYWT00
GASOIL 0.1% BARGES
Quality: The barge assessments represent heating oil grades with
a specific gravity of 0.845 g/ml with a maximum sulfur content
of 0.1%.
Size: The assessment reflects barges of 1,000-2,000mt where the
buyer has the option to choose the actual volume. However, the
buyer has the obligation to specify the actual volume at the time
of the deal. Platts will continue to include in the assessment
process transactions of up to 5,000mt.
Location: FOB basis Rotterdam. Transactions occurring at other
loading ports in NWE are typically normalized on a freight
differential basis back to Rotterdam.
Timing: Barge assessments reflect parcels for loading 3-15
(Monday-Tuesday) or 5-15 (Wednesday through Friday) days
forward, with prices normalized to the midpoint of these loading
ranges.
Other: N/A
Background: The assessment was introduced in October 2007.
Dispatch Category EB
12 Char. Symbol AAYWT0000000
9 Char. Symbol(s)
7 Char. Symbol AAYWT00
Earliest Date 01-OCT-2007
Vendors BLM CQI DRI EMS FTP FUT
KR PL12 RTR SAR
Description Gasoil Gsl 0.1% Brg FOB ARA
METHODOLOGY GUIDE GASOIL / CRACKED FUEL OIL
EUROPEAN PRODUCTS
CRACKED FUEL OIL
25
CRACKED FUEL OIL
In the cracked fuel oil market, a multitude of qualities trade. For
the fuel assessments, therefore, the combination of qualities is
extremely important as individual specifications can not be
considered in isolation.
Platts may in some cases incorporate freight differentials in
establishing FOB to CIF spreads. Platts introduced fuel oil freight
assessments for a number of European routes from February
2003 in Platts Dirty tankerwire.
Platts fuel oil assessments reflect both high and low sulfur
material. Low sulfur cracked grades reflect a maximum 1% sulfur.
On the high sulfur, material in the range 3-4% is typically
considered, and the price is normalized to 3.5%.
In the past utility companies used to buy 3.5% sulfur cargoes
for burning purposes, but limits endorsed by the EU on the
sulfur content mean that utility grade trades on high sulfur are
rare. Most utilities now use 1% max for burning purposes.
PUAAJ00 FUEL OIL 1% CARGOES CIF MED
Quality: The typical quality traded CIF is that imported by
the Italian utility Enel. Platts reflects a maximum sulfur of
1%, material with a density of up to 0.995 SG and a
maximum viscocity of 420 CST. Material with higher
densities such as 0.998 max may be considered at a discount
to this typical quality.
Size: Cargo assessments typically reflect parcels of around 25-
30,000 mt each except where otherwise stated.
Location: The assessment is CIF basis Milazzo. Platts considers
bids, offers and transactions into a range of east and West Med
locations and normalizes these prices to basis Milazzo.
Timing: Reflects material for delivery 10-25 days from date of
publication, with prices normalized to the mid-point of this
delivery window.
Other: Where the CIF Med market is illiquid, and when there is
insufficient local supply to meet utility demand in the region,
Platts may derive the CIF Med value using FOB NWE plus freight
into Milazzo.
Effective Jan 3, the Worldscale basket flat rate used to
calculate NWE-Med low sulfur fuel oil is $8.25/mt. The
corresponding rate in 2005 was $7.40/mt. Please note that