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
S&P Global Commodity Insights, the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, launched 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 commoditisation 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 offer 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) which has seen 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 the 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 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 approximately 70,000 metric tons according to the Maritime and Port Authority of Singapore.
