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contractual terms, the seller should make reasonable and timely
efforts to supply from an alternative source, or the seller should
engage in other measures to alleviate the buyers' exposure.
Equally, a buyer should not over-commit and then aggregate
nominations in a way that m akes it logistically impossible for
the seller to perfor m. Platts will take appropriate steps to ensure
the integrity of its assessments if issues of non-performance
should arise. Please send any comments to
annalisa_jeffries@platts.com, Vanessa_ronsisvalle@platts.com, CC
peter_stewart@platts.com, and Jorge_montepeque@platts.com.
30-Aug-05 Proposed change to NWE barge loading
windows: Following industry feedback, Platts proposes to reflect
in its North West European barge assessments bids and offers in
the 3-15 days forward loading window on Monday through
Wednesday, and in the 5-15 days forward loading window
Thursday and Friday. This is to reflect better the two full working
days nomination procedure required in the NWE barge market.
The change would be effective Oct 1, 2005. Any comments to
annalisa_jeffries@platts.com, with a cc to
peter_stewart@platts.com, and Jorge_montepeque@platts.com.
31-Aug-05 Platts to change European MOC timings
from Oct 1: Effective October 1, 2005, Platts will advance by one
hour the timings for its European market-on-close assessment
processes. From that date, Platts will reflect values at 16:30
London time, rather than 17:30 London time currently, in its
assessments for crude oil, European oil products, oil derivatives
and the main petrochemical products. Editorial processes and
protocols preceding the MOC assessment, including time cutoffs
for submission of new bids and offers and for making
incremental price changes, will also be advanced by one hour.
For comments or questions please contact
Peter_stewart@platts.com, annalisa_jeffries@platts.com and
jorge_montepeque@platts.com.
07-Sep-05 European Marketscan adding assessments
Oct 1: Effective Oct 1, Platts European Marketscan will add a
series of new assessments reflecting the prevailing market value
precisely at 1630 London time for several futures contracts on
NYMEX. These include the front-two months for the
NYMEX futures WTI crude contract, the front-two months for
the heating oil and the front-two months for the unleaded
gasoline contracts, all at 1630 London time.
07-Sep-05 European products cargo bids, offers
deadline: Effective Sep 15, 2005, Platts plans to extend the
deadline to modify the price for all cargo and barge bids and
offers in the European diesel, gasoil, naphtha and jet markets to
17:28 London time. The extension from 17:25 to 17:28 will
bring these products in line with fuel oil and gasoline in Europe.
Any comments please to: Annalisa_Jeffries@platts.com,
Peter_Stewart@platts.com and Jorge_Montepeque@platts.com.
08-Sep-05 Update on European Marketscan changes:
Several of you may have noticed that effective Tuesday, your email
containing the European Marketscan contained two
versions of the publication: the text version that you are reading
METHODOLOGY GUIDE APPENDIX
EUROPEAN PRODUCTS
now, and an Adobe Acrobat version. Both are attachments to the
e-mail you are sent every day. We are proud of the new Acrobat
version, and believe its clearer presentation will help its readers
to more easily use the vast array of information available in the
Marketscan. To help ease the transition, e-mail subscribers to
European Marketscan will continue to receive the text version of
the European Marketscan along with this Adobe Acrobat pdf
version. Both will be on attachment in your daily e-mail from
Platts. However, after the issue of Friday, December 30, only the
Acrobat version will be sent to our readers. The text-only version
will continue to be available on Platts EMIS information
gateway, and to some real-time customers. One important
improvement we ha ve done in o rder t o help smooth the
transition is to provide a glossary (found on page 2 of the
Acrobat file) that matches the text-version abbreviations for the
products with the new, clearer terms. Platts wants to make clear
that no specifications for these products have been changed. The
only thing we are doing is using our greater space and
appearance to spell out in more detail what each of the products
are, and doing away with often-confusing abbreviations.
However, we know that people have become used to those
abbreviations, and they are often written into contracts. The
text-version will continue to use those abbreviations while it is
being delivered during the remainder of this year. This will give
subscribers time, if they need it, to clarify with their counter
parties the product descriptions carried in any commercial
agreements. We know that Platts' European refined product
information will now be easier to access and understand with
our new design. We would be glad to hear from you at
support@platts.com with any further comments or questions.
Please also feel free to contact our editorial staff in Europe for
any comments regarding the design or nomenclature used in the
new format.
09-Sep-05 Proposed changes NWE European gasoline
assessments: Following industry feedback, Platts proposes
effective November 1 to standardize cargo sizes reflected in its
northwest European gasoline cargo assessments as follows:
Premium gasoline 10ppm CIF cargo assessment to reflect 10,000
metric tonnes +/- 10% operational tolerance, basis North Sea
with normal NWE charter party options; Premium gasoline 50
ppm CIF cargo assessment to reflect 10,000 metric tonnes +/-
10% operational tolerance, basis Thames with normal NWE
charter party options; Premium gasoline 10ppm and 50 ppm
FOB NWE assessments to reflect 30,000 metric tonnes +/- 10%
operational tolerance, NWE basis Rotterdam, with material from
other locations considered at differentials. The existing standards
encompass a range of cargo sizes from 10,000-30,000 metric
tonnes on both FOB and CIF. Any comments please to
annalisa_jeffries@platts.c om, simon_thorne@platts.com,
peter_stewart@platts.com an d jorge_montep eque@p latts.com.
09-Sep-05 Review of European cargo operational
tolerance: Platts is reviewing the standards used in Platts
European oil products cargo assessments relating to operational
tolerance, in light of continuing extreme price volatility in the
market. Market participants have raised several concerns over the
potential cost and distortions associated with the current
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