General Index expands SAF price coverage ahead of EU, UK mandates
Commodity pricing provider General Index announced the launch of 11 new sustainable aviation fuel (SAF) prices to provide crucial market insights as the European Union and the United Kingdom prepare to implement their respective SAF mandates.
“We’re pleased to announce the launch of 11 new SAF prices – including spot market value assessments for SAF China, Malacca Straits, and US Gulf Coast. This adds to 13 existing General Index (GX) spot prices for Northwest Europe, as well as a broader set of HEFA production costs for the Netherlands and Singapore,” said David Elward, pricing director at General Index.
Elward highlighted the increasing interest in SAF and the expansion of production in key regions like Europe, East of Suez, and North America.
The upcoming SAF mandates in the EU and UK are set to significantly impact the aviation industry. From 2025, the region will require a 2% SAF blend in its fuel pool, translating to approximately 1.25m metric tons of SAF.
General Index’s new SAF indexes will provide comprehensive pricing coverage across key demand centers and supply origins.
GX has introduced various SAF prices, including North West Europe spot market value prices on a FOB Barges and CIF Cargoes basis, as well as SAF Jet Fuel Blends at different blending ratios.
These blends are particularly relevant for the EU and UK mandates, which will gradually increase the required SAF blend percentage over the coming years.
General Index has also launched SAF prices for key Asian and North American markets. The SAF FOB Malacca Straits and SAF FOB China indexes will provide insights into the growing SAF production in the East of Suez region, particularly in Singapore, China, and Malaysia.
In North America, the USGC netback price will reflect the potential for SAF exports from the US Gulf Coast to Europe.
Elward also emphasised the importance of transparent and reliable pricing methodologies, especially in emerging markets with limited spot trading liquidity.