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METHODOLOGY GUIDE 31-May-2006 Effective June 1, Platts will add a 1630 London time $/rouble exchange rate to the foreign exchange rates carried in Platts European Marketscan and Platts Global Alert page 317. For comments/feedback please contact: jorge_montepeque@platts.com, CC annalisa_jeffries@platts.com 02-Jun-2006 In recognition of the growing maturity and liquidity surrounding global trade in freight derivatives, Platts will launch a series of new forward freight assessments, effective 12 June. Platts Forward Curve-Freight service will include assessments for 18 crude, refined product and dry bulk tanker swap or FFA markets for swap periods as far as two calendar years forward. These will reflect transactable values on an End-of Day, Market-on Close basis as at 1530 London time, and will be published daily at 1630 London time. If you have any queries or need further information please contact mike_davis@platts.com, magnus_berge@platts.com, paul_hailey@platts.com, or pau l_wight ma n@pl atts.c om 16-Jun-2006 In recent months, Platts has been tracking price developments in the domestic Russian crude market and presented the results of this market coverage at a recent forum in Moscow. Platts will provide daily coverage of this market on Platts Global Alert from June 19. Platts market coverage has been focusing on Urals pipeline crude grades on a free in pipeline basis Ufa, Bashkortostan. The crude market values reflect 1630 Moscow time as traded for typical traded pipeline qualities and quantities. Market information will be published on PGA page 3. For comment and market information please contact yahoo ID plattsruscrude or +44 207 176 6166, Corneliu_Tataru@platts.com, Elza_Turner@p latts.c om , An nalisa _Jeffries@platts.com, Jorge_Montepeque@platts.com, Peter_Stewart@platts.com, Gerald_Bueshel@platts.com. Platts has also been tracking price developments in the domestic Russian products market. Platts will provide daily coverage of this market on Platts Global Alert from June 19. Platts market coverage has been focusing on Normal Unleaded, Regular Unleaded, Premium Unleaded, Diesel 0.2, Low Sulfur Fuel Oil and Fuel oil 3.5% M-100 on FCA PFD (Privolzhsky Federal District)/Ufa basis and FCA CFD (Central Federal District)/Moscow basis. The products market values reflect 1630 Moscow time as traded for typical traded qualities and quantities. Market information will be published on PGA page 5. For comment and market information please contact yahoo ID plattsrusproducts or +44 207 176 6166, Corneliu_Tataru@platts.com, Simon_Thorne@platts.com, Annalisa_Jeffries@platts.com, Jorge_Montepeque@platts.com, Peter_Stewart@platts.com. 30-Jun-2006 Platts gasoline, fuel oil and gasoil CIF Mediterranean product assessments reflect bids and offers which specify load port and vessel nomination 7 calendar days prior to the 1st day of the laycan. For assessment purposes Platts reflects bids and offers where the seller has the obligation to narrow the delivery range to a 3 day laycan, 5 calendar days prior to the 1st day of the laycan. Platts gasoline, fuel oil and gasoil CIF Northwest European assessments reflect bids and offers which specify load port and vessel nomination 5 calendar days prior to the first day of the laycan. For assessment purposes Platts reflects EUROPEAN PRODUCTS bids and offers where the seller has the obligation to narrow the de li very range to a 3 day laycan, 5 calendar days prior to the 1st day of the laycan. Comments please to vanessa_ronsisvalle@platts.com; simon_thorne@platts.com; annalisa_jeffries@platts.com 30-Jun-2006 Following industry feedback, and in light of changes to the RMG 35 bunker grade specifications, as updated by the International Standards Organization, Platts is inviting feedback on whether to change the current bunker fuel specification required for the Northwest European and Mediterranean fuel oil assessments. Comments please to vanessa_ronsisvalle@platts.com; simon_thorne@platts.com; annalisa_jeffries@platts.com © Platts 2007 70
METHODOLOGY GUIDE APPENDIX VI: DISCONTINUED ASSESSMENTS The following assessments have been discontinued since the European Oil Products Specifications guide was last issued: PGAMN00 PREMIUM UNLEADED CARGOES CIF MED Quality: The assessment represents EN 228 meeting Italian, French, and Spanish specifications with a maximum sulfur content of 150 ppm. The RON is 95 and the MON is 85. The specific gravity is 0.755 g/ml. Size: The CIF assessment typically reflects parcels of 25,000- 30,000mt each. Location: The assessment is CIF basis Genoa/Lavera with normal CP options. Timing: Reflects material for delivery 10-25 days from date of publication, with prices normalized to the mid-point of this delivery window. Other: N/A Background: Effective 2 January 2003, when grades in NWE move to 50 ppm, the Mediterranean cargo assessments remained unchanged and continued to reflect 150ppm sulphur specification only. Platts introduced new 50 ppm gasoline assessments FOB and CIF Med on July 1, 2004 to run concurrently with the existing 150 ppm assessments until the end of 2004. Assuming no change in the EU’s implementation schedule for tightening sulfur standards in European gasoline, on the first trading day of January 2005, Platts plans to drop its Prem Unl 150 ppm assessments. Dispatch Category EB 12 Char. Symbol PRPPRUGNACEK 9 Char. Symbol(s) PPGMMGDCH · PPGMMGDCL 7 Char. Symbol PGAMN00 Earliest Date 03-OCT-1994 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Prem Unl CIF Med Cargoes PGAMP00 PREMIUM UNLEADED CARGOES FOB MED Quality: The assessment represents EN 228 material meeting Italian, French, and Spanish specifications with a maximum sulfur content of 150 ppm. The RON is 95 and the MON is 85. The specific gravity is 0.755 g/ml. . Size: The assessment typically reflects parcels of 25,000-30,000mt each, though FOB cargoes of up to 33,000 mt may be considered when arbitrage openings mean theseshipments are a significant market factor. EUROPEAN PRODUCTS Location: FOB basis Italy but with other origins considered in the assessment on the basis that neither buyer nor seller is disadvantaged by any additional costs incurred if the material is non-Italian origin. Timing: Reflects material for loading 10-25 days from date of publication, with prices normalized to the mid-point of this delivery window. Other: The netback value from the US acts as a floor for the FOB Med assessment. To establish this floor, Platts calculates the freight netback to basis Augusta from New York Harbour using the Med-USAC Worldscale freight rate published in Platts clean tankerwire. Platts current practice is to calculate this value as the netback for oxygenated cargoes for delivery into the US Atlantic Coast. Platts uses the 37 kt assessment pro-rated to 33 kt. Background: Effective 2 January 2003, when grades in NWE move to 50 ppm, the Mediterranean cargo assessments remained unchanged and continued to reflect 150ppm sulphur specification only. Platts introduced new 50 ppm gasoline assessments FOB and CIF Med on July 1, 2004 to run concurrently with the existing 150 ppm assessments until the end of 2004. Assuming no change in the EU’s implementation schedule for tightening sulfur standards in European gasoline, on the first trading day of January 2005, Platts plans to drop its Prem Unl 150 ppm assessment. Dispatch Category EB 12 Char. Symbol PRPPRUMEDCEM 9 Char. Symbol(s) PPGMMISCH · PPGMMISCL 7 Char. Symbol PGAMP00 Earliest Date 03-OCT-1994 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Prem Unl FOB Med Cargoes 71 PGABV00 PREMIUM 0.15 CARGOES FOB MED Platts dropped its Premium 0.15 (leaded gasoline) CIF assessment in 2002 because of changes in European Union regulations which made the use of lead in gasoline illegal. Platts maintained its Premium 0.15 g/l FOB Med assessment at the industry’s request. This assessment is determined using a fixed premium of $6/mt against the FOB Med Premium Unleaded gasoline assessment, the prevailing differential that was used before the change in EU regulations. Platts has proposed to drop the Premium 0.15 Fob Med assessment several times, but has continued the assessment at the request of market participants. Platts intends to drop the assessment from April 1, 2005. Dispatch Category EB 12 Char. Symbol PRPPR1MEDCFS 9 Char. Symbol(s) PPGPMISCH · PPGPMISCL 7 Char. Symbol PGABV00 Earliest Date 01-MAY-1991 Vendors BLM CQI DRI EMS FTP FUT KR RTR SAR Description Prem 0.15 FOB Med Cargoes
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