Proposed Changes to Argus Asphalt Report

Transcription

1 Proposed Changes to Argus Asphalt Report Argus encourages you to submit comments on these proposals up until 6 July. For further details on the changes Argus is proposing and how you can comment, please read on: US Atlantic coast 1. In order to more accurately reflect existing methodology, Argus proposes renaming the following US Atlantic Coast asphalt assessments Maine MA/NH Eastern and central NY Northern NJ/NY C Metro Delaware/SE PA/south NJ Maryland/northern Virginia Central and lower Virgina Inland Carolinas Inland Georgia West coast of Florida Southern Florida Waterborne assessments New Jersey barge fob New England cif cargoes N New Jersey/New York City Metro cif cargoes Southwest Maine Greater Boston Albany New York City Philadelphia Baltimore Southeast Virginia Inland North Carolina Atlanta Gulf coast Florida Miami New Jersey fob New England cif New York Harbor cif 2. Because of changing market conditions, Argus proposes the following changes to the volume and timing that its waterborne asphalt assessments are intended to reflect: Cargo size Loading/discharge window Existing New Existing New New Jersey fob 25,000-65,000bl 25,000-70,000bl 2-4 weeks days New England cif 40, ,000bl 25,000-70,000bl 2-4 weeks days New York Harbor cif 40, ,000bl 25,000-70,000bl 2-4 weeks days Petroleum illuminating the markets Market Reporting Consulting Events

2 US Atlantic coast contd. 3. Argus is planning to move its West coast of Florida/Gulf coast Florida asphalt rack assessment from the US Atlantic coast pages of the Argus Asphalt Report to the US Gulf pages. 4. Because the Argus Asphalt Report is a weekly report, Argus proposes switching the timing of its US products assessments (heating oil and 3pc S fuel oil) from a Thursday close to a weekly low-high range, where the low is the lowest of the week s lows, and the high is the highest of the week s highs. 5. Because they have become less relevant as metrics for the asphalt market, Argus proposes discontinuing Maya breakeven (asphaltic) USEC (PA ) Asphalt HSFO alternative arbitrage from the Med (PA ) Asphalt HSFO alternative arbitrage from the USGC (PA ) Arab Heavy breakeven (asphaltic) USEC (PA ) or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Ian Stewart, Argus Media, 500 Fifth Avenue, Suite 2410, New York, NY Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested. US Gulf 1. In order to more accurately reflect existing methodology, Argus proposes renaming the following US Gulf asphalt assessments: Alabama (inland) Alabama (southern) Louisiana/Mississippi (southern) Louisiana/Mississippi (inland) Texas (coastal) Arkansas/Texas northeast Alabama - North Mobile Louisiana - Southeast Mississippi Houston Texas - Northeast Waterborne Assessments USGC east barge fob USGC west coast barge fob US Gulf - East US Gulf - West Economics Assessments Asphalt HSFO alternative USGC Asphalt s value as a fuel oil blendstock (US Gulf)

3 US Gulf contd. 2. Because of changing market conditions, Argus proposes the following changes to the volume and timing that its waterborne asphalt assessments are intended to reflect: US Gulf - East US Gulf - West Cargo size Existing 30,000 bl minimum 30,000 bl minimum New 25,000-70,000bl 25,000-70,000bl Loading/discharge window Existing Within 2 weeks Within 2 weeks New days forward days forward Grades Existing PG 64-22, PG 64-22, New PG 64-22, 67-22, AC-30 PG 64-22, 67-22,AC Due to a decline in the amount of liquidity available to the price-assessment process, Argus proposes Discontinuing its New Mexico asphalt rack assessment (PA ) Discontinuing its Texas (inland) asphalt rack assessment (PA ) 4. Because the Argus Asphalt Report is a weekly report, Argus proposes switching the timing of its US Gulf products assessments (heating oil and 3pc S fuel oil) from a Thursday close to a weekly low-high range, where the low is the lowest of the week s lows, and the high is the highest of the week s highs. 5. Because they have become less relevant as metrics for the asphalt market, Argus proposes discontinuing Maya breakeven (asphaltic) USGC (PA ) US Gulf fob barge crack spread (PA ) US Gulf fob barge crack spread (PA ) Arab Heavy breakeven (asphaltic) USGC (PA ) or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Ian Stewart, Argus Media, 500 Fifth Avenue, Suite 2410, New York, NY Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested.

4 US Midcontinent 1. In order to more accurately reflect existing methodology, Argus proposes renaming the following US Midcontinent asphalt assessments: North Dakota/South Dakota Illinois north/eastern Iowa (Chicago) Indiana north east/ohio north/michigan Oklahoma north east/kansas/missouri SW Illinois south/eastern Missouri (St Louis) Iowa west/nebraska North Dakota Chicago metropolitan area Michigan southeast Kansas City St Louis Omaha 2. Because of changing market conditions, and in order to provide a more granular picture of US asphalt markets, Argus proposes replacing its Ohio south/indiana south/kentucky north rack assessment (PA ) with two new rack assessments: Indianapolis and Ohio 3. Because of changing market conditions, Argus proposes the following changes to the volume that its waterborne asphalt assessments are intended to reflect: Midwest barge Cargo size Existing 20,000 bl minimum New 15,000-30,000bl 4. Due to a decline in the amount of liquidity available to the price-assessment process, Argus proposes: Discontinuing its Oklahoma west/texas Panhandle asphalt rack assessment (PA ) Discontinuing its North Dakota/South Dakota asphalt rack assessment (PA ) Discontinuing its Midwest roofing flux barge assessment (PA ) or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Ian Stewart, Argus Media, 500 Fifth Avenue, Suite 2410, New York, NY Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested.

5 USWC-Rockies 1. In order to more accurately reflect existing methodology, Argus proposes renaming the following USWC-Rockies asphalt assessments: Arizona California Central California North California South Colarado Washington west/oregon Nevada Utah Phoenix Bakersfield Bay Area, CA Los Angeles Denver Portland, OR Las Vegas Salt Lake City Economic Assessments Asphalt s HSFO alternative West coast Asphalt s value as a fuel oil blendstock (Los Angeles) 2. Because of changing market conditions, Argus proposes the following changes to the grades that its railed asphalt assessment is intended to reflect: Rocky Mountains rail Grades Existing PG 64-22, New PG Due to a decline in the amount of liquidity available to the price-assessment process, Argus proposes: Discontinuing its California south roofing flux rack assessment (PA ) Discontinuing its Idaho/E Washington rack assessment (PA ) 4. Because the Argus Asphalt Report is a weekly report, Argus proposes switching the timing of its Los Angeles products assessments (diesel and 3pc S bunker fuel) from a Thursday close to a weekly low-high range, where the low is the lowest of the week s lows, and the high is the highest of the week s highs. or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Ian Stewart, Argus Media, 500 Fifth Avenue, Suite 2410, New York, NY Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested.

6 Canada 1. In order to more accurately reflect existing methodology, Argus proposes renaming the following Canada asphalt assessments: Quebec Ontario Montreal area Toronto 2. Due to a decline in the amount of liquidity available to the price assessment process, Argus proposes discontinuing its assessment of Ontario built-up roofing liquid. or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Ian Stewart, Argus Media, 500 Fifth Avenue, Suite 2410, New York, NY Please note, formal comments will be published after the consultation period unless confidentiality is specifically request Europe-Africa 1. In order to better reflect existing market practice, Argus proposes: introducing a delivered UK South asphalt assessment, which will run in parallel with the existing UK South rack assessment 2. In order to better reflect the European refined product landscape, Argus proposes: Discontinuing straight-run fuel oil and vacuum gasoil assessments currently published in the Argus Asphalt Report Introducing 3.5pc S, RMG spec fuel oil assessments for northwest Europe and the Mediterranean Introducing a 0.5pc S straight-run fuel oil assessment for northwest Europe 3. Because the the Argus Asphalt Report Report is a weekly report, Argus proposes: switching the timing of its European fuel oil assessments from a Thursday close to a weekly low-high range, where the low is the lowest of the week s lows, and the high is the highest of the week s highs. To comment, please contact Keyvan Hedvat on keyvan.hedvat@argusmedia. com or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Keyvan Hedvat, Argus Media, Argus House, 175 St John St, London EC1V 4LW. Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested.

7 Asia-Pacific 1. In order to more accurately reflect its existing methodology, Argus proposes: Renaming its fob Thailand waterborne asphalt assessments as fob Rayong Renaming its fob Iran waterborne asphalt assessments as fob Bandar Abbas Renaming its Singapore ex-refinery (to Malaysia) asphalt rack assessment as Singapore pen 80/100 (used in Malaysia) 2. Because the Argus Asphalt Report is a weekly report, Argus proposes: switching the timing of its Singapore products assessments (HSFO 380cst, HSFO 180cst, and gasoil) from a Thursday close to a weekly low-high range, where the low is the lowest of the week s lows, and the high is the highest of the week s highs. 3. Due to a decline in the amount of liquidity available to the price-assessment process, Argus proposes: Discontinuing its Taiwan-East/South China asphalt freight assessment (PA ) Discontinuing its fob Japan waterborne asphalt assessment (PA ) Discontinuing its asphalt rack assessments for E Shandong Sinopec Jinan AH-100 (PA , PA , PA , PA ) Discontinuing its asphalt rack assessments for E Zhejiang CNOOC Daxie AH (PA , PA , PA , PA ) Discontinuing its asphalt rack assessments for NW Gansu PetroChina Lanzhou AH-90 (PA , PA , PA , PA ) To comment, please contact Aabha Gandhi on aabha.gandhi@argusmedia. com or at Formal comments should be marked as such and may be submitted via to asphalt@argusmedia.com or by post to Aabha Gandhi, Argus Media, 50 Raffles Place, Singapore Land Tower, Singapore Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested. argusmedia.com Trademark notice: Argus Media Ltd. ARGUS, ARGUS MEDIA, the ARGUS logo, DEWITT, FMB, FUNDALYTICS, METAL-PAGES, JIM JORDAN & ASSOCIATES, JJ&A, ARGUS publication titles and ARGUS index names are trademarks of Argus Media Limited.