Platts Index definition
Examples of Platts Index in a sentence
References in this Agreement to the “Platts Group 3 Spot Mean” price shall refer to the average of the low price and the high price quoted for a Product on the Platts Index Page on the relevant day.
References in this Agreement to the “Platts Group 3 Spot Low” price shall refer to the low price quoted for a Product on the Platts Index Page on the relevant day.
Each Business Day the Platts Marketscan publishes ‘low’, ‘high’ and ‘mean’ figures for each Platts Index.
The relevant Platts Index will be detailed in the ITC and the Call-off Contract.
The example below is strictly for illustration purposes, and may not reflect actual changes in the CPI and any allowable adjustments in price that might occur during the Contract term.
The Product Price for Ultra Low Sulfur No.1 Diesel shall be equal to the Platts Group 3 Spot Low price for such Product (identified as ULS No.1 on the Platts Index Page beginning on November 1 of each year); provided, the Product Price shall be no lower than the Platts Group 3 Spot Mean less 0.25 cents per gallon.
Suffix “ i” To denote Initial Base Freight Rate according to the Agreement Suffix “f” To denote applicable Freight Rate for the shipment Suffix “o” To denote mean of Platts Index Price (US$) of IFO RMG 380 cSt at Singapore or Colombo as applicable for the preceding month to the month, which includes Bid Closing Date, as the Base Bunker Price (i.e. June 2019).
The Platts Price shall be calculated by taking the average of the published ‘mean’ figures for this Platts Index for the 5 days centred around the Bill of Lading (B/L) date (2 days before B/L date, B/L date, 2 days after B/L date).
The Platts Price shall be calculated by taking the average of the published ‘mean’ figures for this Platts Index for the month prior to delivery (M-1 – see Definitions).
For the purpose of the price competition only, the Platts element of the overall price competition will be calculated using the Platts Index detailed in the ITC, based on the average of the mean for the month prior to the date of the competition (M-1).