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S&P Global Monday Note dump w/e 6 August

Platts clarifies position on Russian vessels in the JKM LNG MOC process

Following feedback from market participants and recent observed changes in trading practices in North Asia, Platts observed that Russian LNG vessels, which would include vessels that are Russian flagged, registered, owned, controlled, chartered or operated, are not presently merchantable on the same basis as that of other vessels nominated in spot transactions. This clarification applies to bids, offers and trades reported in the Platts JKM LNG MOC process.

Platts to exclude Russian-origin material from European jet fuel[, gasoline, and LPG] assessments effective Sept. 1, 2022
Feedback gathered from the market, as well as observed market activity in recent weeks, has shown a significant move away from Russian-origin material in the spot market. Furthermore, Platts has observed that Russian material does not constitute a typical flow and significant portion of supply European balances of jet fuel.

Platts to exclude Russian-origin product from European 1%S FO [fuel oil] and 0.5%S MF [marine fuel] assessments Sept. 1
In recent months, Platts has observed that an increasing number of market participants have been restricting material from Russia, in part or entirely, in their spot fuel oil trading activity. In addition, the EU's oil embargo on Russia will take a heavy toll on Europe's oil supply and fuel flows and will increase Europe's dependency on alternative sources of supply to meet residual fuel oil demand within the region. Although Russian product continues to flow to the European market for certain fuel oil grades, Platts understands that it is not trading on the same basis as product from other origins in the spot market, and that there is a difference in value between Russian and non-Russian product.
a webinar: G7 sanctions "deputies" risks and reporting guidelines
by Cat on Wed Aug 3rd, 2022 at 02:11:49 PM EST
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