* Will be Platts' first Indonesian delivery point
* To reflect assessments for gasoil, jet fuel and gasoline
By Jessica Jaganathan
SINGAPORE, March 23 Oil price agency S&P Global
Platts said on Thursday it was considering a proposal to reflect
deliveries from Indonesia's Oiltanking Karimun Terminal in its
Singapore pricing assessments for gasoil, jet fuel and gasoline
from July 3.
This will be the first Indonesian delivery point in Platts'
Singapore assessment process, the agency said in a note to
subscribers, and will be in addition to approved loading points
outside of Singapore such as Malaysia's Tanjung Langsat, Tanjung
Bin and a few floating storage units.
Platts, a unit of S&P Global, proposes to publish
offer prices for oil loading from Karimun on a free-on-board
(FOB) Indonesia basis.
The move is expected to offer traders more flexibility in
loading cargoes and improve market liquidity, traders said.
Oiltanking Karimun is a joint venture between Oiltanking,
which is a subsidiary of Hamburg-based Marquard & Bahls
, and trader Gunvor Group.
The Karimun terminal, with a total storage capacity of
730,000 cubic metres, was commissioned in mid-2016 and is aimed
to serve the growing demand for oil products in Asia, according
to Oiltanking's website.
It is supported by four jetties and is able to accommodate
vessels up to 320,000 deadweight tonne.
With Singapore unable to commit more land to commercial
storage to serve trading companies, Indonesia and Malaysia have
stepped up their investments in oil and chemicals storage
Platts, which provides Asian benchmark assessments for most
oil products traded in the region, introduced a FOB Straits
benchmark in July, 2015 to include ports in Malaysia.
(Reporting by Jessica Jaganathan; Editing by Himani Sarkar)