Glossary

GLOSSARY OF TERMS

 

The following is a glossary of terms and abbreviations commonly found within ICIS pricing reports.

General Terms

ACP                Asian Contract Price

APCP              Asian Posted Contract Price

API                  American Petroleum Institute (issues US petroleum statistics)

APPI                Asian Petroleum Price Index

ARG                German pipeline group, major ethylene inland distribution (Aethylen Rohrleitungs Gesellschaft)

bl/mldg blow moulding (plastics reports)

BPAP              BP Agreed Price (LPG quote in feedstocks)

C                     in paraffin wax to denote melt point in degrees Celsius

C-grade           chemical grade (propylene) / commercial grade (toluene)

CP                   contract price

CSD                carbonated soft drinks

CNO               coconut oil

CST                 centistoke, unit of viscosity, ratio of a liquid’s absolute viscosity to the density of that liquid

DOE                US Department of Energy

DTY                drawn texturised yarn

EBM                extrusion blow moulding (PET)

EGAF              antifreeze grade ethylene glycol

EGF                 fibre grade ethylene glycol

EGI                  industrial grade ethylene glycol

ext                    extrusion (plastics)

FDY                fully drawn yarn

FRASS            freight rate assessment

GP                   general purpose

H1                   first half (year)

H2                   second half (year)

HD                   high density (plastics)

HIPS                high impact polystyrene

ICP                  Indonesian crude price

INJ                  injection

IPE                  International Petroleum Exchange

LDPE               low density polyethylene

LLDPE            linear low density polyethylene

LPG                 liquid petroleum gases (butane and propane on feedstocks)

MAP                monthly agreed price

MON               motor octane number

MoU                memorandum of understanding

MPGI              industrial - technical grade monopropylene glycol

MTH                month

N+A                naphthenes and aromatics (naphtha)

n/c                    no change

N-grade           nitration grade (toluene)

NAT                natural

NYMEX          New York Mercantile Exchange

PC                   polycarbonate

P&C                private and confidential

P-grade            polymer grade (propylene)

PM                  propanol methoxy/methoxy propanol/propylene glycol ether

PMA                propanol methoxy acetate

PFY                 polyester filament yarn

PSF                 polyester staple fibre

POY                partially oriented yarn

Q1                   first quarter (year)

Q2                   second quarter (year)

Q3                   third quarter (year)

Q4                   fourth quarter (year)

R-grade            refinery grade (propylene)

SBM                stretch blow moulding (plastics)

s/d                    shutdown

SDY                spin drawn yarn

SP                    spot price

SYN                synthetic (glycerine, ethanol)

T1                    material manufactured outside the EU and possibly subject to duty

T2                    material manufactured within the EU

TVA                temporary voluntary allowance

UPR                 unsaturated polyester resins

USP                 US pharmaceutical grade

VLCC              very large crude carrier

W-A                weighted average

WTI                 West Texas Intermediate (US specification of crude oil)

Commercial Terms

CFR                 cost & freight

C&F                cost & freight, for oil bulk cargoes

CIF                  cost, insurance & freight

CPT                 carriage paid to

DEL                 delivered

DAF                delivered at frontier

DDP                delivered, duty paid

DDU                delivered, duty unpaid

DOM               domestic

EXW               ex-works

EXWH             ex-warehouse (China assessments)

FCA                free carrier

FOB                free on board

FOB(*)            FOB price spread at Friday close

FOB(+)            FOB price spread for the week

FOR                free on rail

FOT                free on truck

FD                   free delivered

FRT EQ           freight equalised

Free alongside  US equivalent of FOB

Form A            preferential rate of duty

ITT                  inter-tank transfer

LC                   letter of credit

NOM               nominal

Units

bbl                   barrel

cwt                   hundredweight (112lb)

dmt                  dry tonne (or dry metric ton)

dst                    dry short ton

gal                    US gallon

hlt                     hectolitre

kg                    kilogramme

kt                     kilotonne

lb                     pound (weight)

lt                      long ton (2,240lb)

mt                    tonne (1,000kg or 2,204.62lb)

mt/year             tonne per year

st                      short ton (2,000lb)

Locations

ARA                Amsterdam-Rotterdam-Antwerp

AR                   Amsterdam-Rotterdam

A-P                  Asia-Pacific

CIS                  Commonwealth of Independent States

CMP                China Main Port

FARA              Flushing-Amsterdam-Rotterdam-Antwerp

FARAG           Flushing-Amsterdam-Rotterdam-Antwerp-Ghent

FSU                 former Soviet Union

HTC                Houston/Texas City

MED                Mediterranean

NYH                New York Harbor

NWE               northwest Europe

Rdam               Rotterdam

Spore               Singapore

USEC              US east coast

USG                US Gulf

USGC              US Gulf coast

USWC             US west coast

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