Driving efficiency and transparency in Asian
UCO and UCOME physical trading markets
SINGAPORE, March 29,
2023 /PRNewswire/ -- S&P Global Commodity
Insights, the leading independent provider of information,
analytics and benchmark prices for the commodities and energy
markets, will launch on March 29,
2023 the Platts Editorial Window (eWindow)® communication
tool for assessing the tradable value of physical Asian Biofuels
and Feedstock FOB Straits and China. The Platts eWindow® communication
online data-entry and communications tool brings greater speed,
transparency and efficiency to the Platts Market-on-Close (MOC)
price assessment processes.
Between 2020 and 2022, S&P Global Commodity Insights
launched four assessments for ISSC-Certified UCO (Used Cooking Oil)
and UCOME (Used Cooking Oil Methyl Ester) in China and the Straits, encompassing terminals
beyond Singapore's borders.
Against the backdrop of growing liquidity and maturity of the Asian
Biofuels and Feedstock industry, S&P Global in collaboration
with Intercontinental Exchange (ICE) will now launch the Platts
Editorial Window (eWindow)® communication tool for assessing the
tradable value of physical UCO and UCOME cargoes in Asia, allowing market participants to trade
with increased confidence.
Andrei Agapi, APAC associate
pricing director for Agriculture, S&P Global Commodity
Insights, said, "The expansion of Platts Editorial Window
(eWindow)® to support Platts MOC for Asian Biofuels and Feedstock
marks a further milestone in the maturity and rapid commoditization
of the market. This latest addition to the Platts Asian biofuels
price assessment offering will provide valuable insight into an
important energy source and further enhance transparency for the
physical cargo market. Market participants can now submit outright
and time spread bids and offers for publication directly through
the eWindow® communication tool."
"With the continued drive towards reducing our carbon footprint
in the transportation sector, the world is increasingly exploring
the use of second-generation biofuels. This new generation of
biofuels increasingly relies on the supply of oils-derived
vegetable waste materials such as Used Cooking Oil (UCO) that has
seen a rapid growth in liquidity over the past three years.
According to analytics data from S&P Global Commodity Insights,
forecasted biofuels demand will exceed 3.25 million barrels per day
by 2025, and much of the growth will be attributed to biodiesel,
renewable diesel and sustainable aviation fuel (SAF)."
Asia is at the heart of
production and export of waste material used in the production of
biofuels. The largest export volumes presently come from
China, Malaysia and Indonesia and are thereafter imported into
Singapore, Europe and the US where Renewable Diesel and
Sustainable Aviation Fuel capacities are ramping up simultaneously.
In addition, Singapore has seen a
rapid growth in biofuels blending into marine fuels to reduce
carbon emissions from the maritime sector. The volume of biofuels
such as UCOME supplied in Singapore to oceangoing vessels has reached
approximatively 70,000 metric tons according to the Maritime and
Port Authority of Singapore.
Platts Editorial Window (eWindow)® will be launched for these 4
products below – see subscriber note:
UCO North Asia $/mt AUCOC00
UCO FOB Straits $/mt UCFCC00
UCOME FOB China $/mt UCFCA00
UCOME FOB Straits $/mt UCFCB00
About Platts eWINDOW
Platts Editorial Window (eWindow)® is a data-entry and online
communications tool that provides market participants with a
transparent, at-a-glance view of the Platts price assessment
process in the physical spot and derivatives markets.
Delivering greater speed and efficiency to the price assessment
process for crude, as well as refined products and biofuels, Platts
eWindow® facilitates the price assessment process by combining the
Platts Market on Close (MOC) price assessment methodology with
state-of-the-art technology, customized for Platts and licensed
from the Intercontinental Exchange (ICE).
Platts eWindow® is used by more than 460 companies, covering
over 60 markets worldwide in crude oil, refined products, LNG,
petrochemicals, and biofuels and supports the MOC process for more
than 80 benchmark price assessments globally. Since its
introduction in 2007, more than 391,000 transactions data have been
reported to Platts editors and the marketplace via Platts
eWindow®.
Media
Contacts:
Global/EMEA: Paul
Sandell, +44 7816 180039,
paul.sandell@spglobal.com
Americas: Kathleen
Tanzy, + 1917 331 4607, kathleen.tanzy@spglobal.com
Asia: Melissa Tan, + 65 68189
7569, melissa.tan@spglobal.com
About S&P Global Commodity Insights
At S&P
Global Commodity Insights, our complete view of global energy and
commodity markets enables our customers to make decisions with
conviction and create long-term, sustainable value.
We are a trusted connector that brings together thought leaders,
market participants, governments, and regulators and we create
solutions that lead to progress. Vital to navigating commodity
markets, our coverage includes oil and gas, power, chemicals,
metals, agriculture, shipping and energy transition.
Platts® products and services, including the most
significant benchmark price assessments in the physical commodity
markets, are offered through S&P Global Commodity
Insights.
S&P Global Commodity Insights is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information visit
https://www.spglobal.com/commodityinsights.
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SOURCE S&P Global Commodity Insights