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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