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operational plus or minus 10% tolerance. Platts requests
subscriber feedback on the current volume tolerances and
comments on potential mechanisms that could be implemented
to lower the operational tolerance or lower the financial risk
associated with volume tolerances. Platts will address this issue
in coming weeks and welcomes comments, which should be
addressed to annalisa_jeffries@platts.com;
peter_stewart@platts.com; jorge_montepeque@platts.com.
12-Sep-05 Mediterranean products ship nomination
procedure: Following subscriber feedback, Platts will change the
ship nomination procedures acceptable for assessment purposes
for deliveries of Mediterranean gasoil, gasoline and fuel oil.
Currently, Platts includes in its assessments process ship
nominations five calendar days prior to first delivery laycan day.
Platts will switch to seven calendar days prior to first delivery
laycan day, effective Sep 21. Any comments to
annalisa_jeffries@platts.com and peter_stewart@platts.com with a
cc to Jorge_montepeque@platts.com
21-Sep-05 Spot price assessments during hurricane
season: In the context of potential oil production, transportation
and trading disruptions related to the hurricane season, Platts
clarifies that all spot price assessments will be published as usual
as long as the related infrastructure and trading environment for
a specific commodity remain operational. This policy will stay in
place even if a particular Platts office (e.g. Houston) has to
temporarily close for safety reasons. Platts discloses publicly days
of publication of its price assessments and indices, and times
during each trading day in which Platts considers transactions in
determining its assessments and index levels. Publication dates
and the assessment periods are subject to change in the event of
outside circumstances that affect Platts' ability to adhere to its
normal publication schedule--network outages, power failures,
acts of terrorism, natural disasters and other situations resulting
in interruption in Platt s' operations at one or more of its
worldwide offices. Platts will endeavor, whenever feasible, to
communicate publicly changes to its publication schedule and
assessment periods, with as much advance notice as possible. For
questions/comments contact Gerald_Bueshel@platts.com or
Jorge_Montepeque@platts.com.
26-Sep-05 Sep 26 IPE technical problems re: gasoil:
Due to technical problems at the IPE, gasoil futures did not trade
around 17:30 London time (16:30 GMT) Monday, the time
usually reflected in the IPE gasoil settlement. Platts' assessments
reflect prevailing values at 17:30 London time. As a result, the
outright distillate prices for cargoes and barges will be calculated
using Platts' assessments of fixed price values at 17:30 London
time as usual. Platts typically tracks both fixed price as well as
inter-product and crude-to-product relationships prevailing at
17:30 London time. This is in line with Platts' published
methodology regarding the time stamp for its assessments as
well as the use of an alternative system to respond to any
anomalous events. For any questions call Peter Stewart 00 44 207
176 6130 or Annalisa Jeffries 00 44 207 176 6115
03-Oct-05 Platts European MOC timings changes:
METHODOLOGY GUIDE APPENDIX
EUROPEAN PRODUCTS
Effective Oct 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
and annalisa_jeffries@platts.com.
03-Oct-05 Platts seeks feedback on NWE jet specs:
Following industry feedback, Platts is conducting a review of
NWE jet fuel standard specifications. Currently Platts
assessments require that any jet fuel traded in NWE meet the
Defstan 91 91 5 specification as issued by the UK Ministry of
Defence on Feb 8 2005. Platts requests further industry feedback
on whether Platts assessments parameters should be tightened to
reflect jet fuel that meets both the Defstan 91 91 5 and the Joint
Fueling System Checklist. Platts understands that cargoes traded
within Europe typically meet both standards. 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.
Comments by October 7 should be addressed to
Annalisa_jeffries@platts.com and alan_hayes@platts.com, with a
cc to Peter_stewart@platt s.com, and
jorge_montepeque@platts.com.
03-Oct-05 Platts new MOC European oil products
timings: Following the switch to 16:30pm MOC Monday Oct 3,
the new time parameters for all European oil products are as
follows: The cut off for any new cargo bids and offers is
15:45:00pm (London time). The cut off for all new barge bids
and offers is 16.00.00pm (London time). The cut off for any
incremental price changes for barges and cargoes is 16.28.00pm
(London time). Further details are available on the following
link.
http://www.platts.com/Oil/Resources/Market%20Issues/window.
Any questions please contact Annalisa Jeffries on 00 44 207 176
6115.
07-Nov-05 New Instant Messenger names for LSFO and
HSFO: Due to the increasing number of bids/offers and trade on
fuel oil, Platts has set up two separate Yahoo Instant Messenger
names to enhance communication: one for LSFO and one for
HSFO. Platts has set up two names as follows: Plattsfueloil and
Plattslsfo. Effective Wednesday Nov 9, Platts requests all LSFO
bids and offers to be sent to Plattlsfo and all HSFO bids and
offers to be sent to plattsfueloil. Any comments to
annalisa_jeffries@platts.com, and peter_stewart@platts.com with
a cc to Jorge_montepeque@platts.com
25-Nov-05 ARA 50 ppm ULSD barge assessment
clarification: Platts 50 ppm sulfur ULSD FOB barges in the ARA
region are assessed basis Antwerp. Earlier in the year, the
Netherlands' consumption switched from 50 ppm sulfur to 10
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