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Specifications Guide Global Hydrogen & Ammonia: October 2023
© 2023 by S&P Global Inc. All rights reserved.
and Taiwan) and CFR Northwest Europe (major ports that can
accommodate ammonia cargoes in Belgium, Germany, the
Netherlands, and northern France).
Platts assessments represent duty-free cargoes. Cargoes
incurring any duty may be normalized as part of the assessment
process.
Cargo Size: CFR Far East Asia: 20,000-40,000 mt and
CFR Northwest Europe: 20,000-25,000 mt. Platts may use
information with different cargo sizes after normalization.
Units: Platts assesses renewable power derived ammonia in US
dollars per metric ton and US dollars per MMBtu.
Credit terms: Assessments are cash prices, net of any credit.
Platts may use information with longer credit terms after
normalization.
Quality specifications: Minimum purity of 99.5% of
anhydrous ammonia by weight, a maximum water content
of 0.5% by weight, and a maximum oil content of 10 ppm by
weight.
Further Assumptions: The Platts renewable power derived
ammonia valuations are published to two decimal places. In the
absence of spot market activity, ‘green’ ammonia prices would
consider the cost of production of ammonia using an alkaline
electrolyzer and renewable electricity, adding freight cost to
calculate CFR price for Far East Asia and Northwest Europe.
Representative electricity costs for the relevant region are
taken from S&P Global Commodity Insight’s Levelized Cost of
Electricity (LCOE) to match the duration of the electrolyzer and
ammonia plant, where the average cost of onshore wind and
solar photovoltaic underpins the cost of ammonia production
calculation. Renewable power derived ammonia originating
from Australia delivered into Far East, the cost of production
of ammonia is calculated using renewable electricity prices in
Australia added to the cost of freight of transporting ammonia
from Western Australia to Japan. Renewable power derived
ammonia originating from Middle East delivered into Far East
and Northwest Europe, the cost of production of ammonia is
calculated using renewable electricity prices in Saudi Arabia and
added to the cost of freight of transporting ammonia from Saudi
Arabia to Japan and Netherlands, respectively.
Renewable power derived ammonia originating from WC of
Canada delivered into Far East, the cost of production of
ammonia is calculated using renewable electricity prices
in Canada and added to the cost of freight of transporting
ammonia from WC of Canada to Japan.
Renewable power derived ammonia originating from US Gulf
Coast delivered into Northwest Europe, the cost of production
of ammonia is calculated using renewable electricity prices in
Texas and added to the cost of freight of transporting ammonia
from Texas to Netherlands.
Renewable power derived ammonia originating from EC of
Canada delivered into Northwest Europe, the cost of production
of ammonia is calculated using renewable electricity prices
in Canada and added to the cost of freight of transporting
ammonia from EC of Canada to Netherlands.
The feedstock water cost is constant for all regions. The
operational parameters for alkaline electrolysis across all
hubs are identical and include electrolyzer efficiency of 67%.
The ammonia plant capacity across locations is assumed to
be 500,000 mt per year at a high-capacity capacity factor of
90%. The capital cost of alkaline electrolyzers for all origin
regions is given in the tables below.
Blue Ammonia Premiums
Pricing Locations: Platts publishes Blue Ammonia Premiums for
CFR Far East Asia, FOB Middle East, CFR Northwest Europe, and
US Gulf Coast.
Assessment window: Daily assessments basis CFR Far East
Asia, FOB Middle East, CFR Northwest Europe are based on
latest information sourced from the market up to the close
of the assessment window at 4.30 pm London time. Daily
assessment basis CFR US Gulf Coast is based on latest
information sourced from the market up to the close of the
assessment window at 1:30 pm Houston time.
Timing: Daily assessments for all locations for parcels to be
delivered 1-6 weeks forward from the date of publication.
Basis and locations: CFR Far East Asia (ammonia-importing
ports/terminals in China, Indonesia, Japan, South Korea,
Malaysia, Philippines, Taiwan, Thailand, Singapore and
Vietnam); CFR Northwest Europe (ammonia-importing ports/
terminals in Belgium, Finland, France, Germany, Netherlands,
Norway, Sweden and the United Kingdom); and CFR USGC
(ammonia-importing ports/terminals in the US Gulf states
of Texas, Louisiana and Mississippi). FOB Middle East
(ammonia-exporting ports/terminals in Bahrain, Kuwait,
Oman, Qatar, Saudi Arabia, and the United Arab Emirates);
FOB Black Sea (Major ports that can accommodate ammonia
cargoes in Ukraine)
For all regions, other locations may be used when reflective of
the market and normalized. For the European market, Platts
assessments represent duty-free and duty paid cargoes.
Cargoes incurring any duty may be normalized as part of the
European assessment process.
Cargo Size: CFR Far East Asia: 6,000-15,000 mt, CFR Northwest
Europe: 10,000-25,000 mt, CFR USGC: 10,000-25,000 mt, FOB
Middle East: 10,000-25,000 mt, FOB Black Sea: 10,000-25,000
mt. Platts may use information with different cargo sizes after
normalization.
Units: Platts assesses ammonia in US dollars per metric ton and
US dollars per MMBtu.
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