Platts launches DAP West Coast India Urals crude assessments

Following a period of research, Platts, part of S&P Global Commodity Insights, has launched assessments for Russian Urals crude delivered to West Coast India, effective Jan. 18, 2023.

This follows a decision note published Dec. 16, 2022 and available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/121622-platts-to-launch-dap-west-coast-india-urals-crude-assessments

The new assessment is published on a Delivered at Place (DAP) West Coast India basis as both an outright price, and as a differential to M1 forward Dated Brent (BDLM001).

The assessment reflects an Aframax cargo size, typically 80,000-100,000 mt, and is assessed for an M+1 delivery period into West Coast India. For example, in February 2023 the assessment would reflect March deliveries of Urals crude to West Coast India.

The launch of this assessment comes as Platts has observed a major flow of Russian crude oil to Asia following the war in Ukraine.

These cargoes load in Baltic and Black Sea ports, with a large number discharging in the refining hub of West Coast India.

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