Platts updates European shipping rates for fuel oil netbacks for 2023

The following changes have been made Jan. 3 across fuel oil price assessments by Platts, part of S&P Global Commodity Insights, for the Europe and Africa region to reflect Worldscale freight rates for 2023:

Marine Fuel

The flat rate used to calculate FOB Mediterranean Marine Fuel 0.5% cargoes as a freight netback from CIF Mediterranean Marine Fuel 0.5% cargoes is now $7.08/mt.

Low sulfur fuel oil

Platts has updated all its Worldscale annual flat rates for LSFO cargoes in Northwest Europe and the Mediterranean.

The flat rate used to calculate CIF NWE LSFO cargoes as a freight net-forward from FOB NWE LSFO cargoes is $7.45/mt.

The flat rate used to calculate CIF Mediterranean LSFO cargoes as a freight net-forward from FOB NWE LSFO cargoes, in the absence of other daily bid/offer/trades information, is $14.12/mt.

The flat rate used to calculate FOB Mediterranean LSFO cargoes as a freight netback from CIF Mediterranean LSFO cargoes is $7.97/mt.

High sulfur fuel oil

Platts has updated all its Worldscale annual flat rates for HSFO cargoes in Northwest Europe and the Mediterranean.

The flat rate used to calculate FOB NWE HSFO cargoes (basis Baltics) as a freight netback from CIF NWE HSFO cargoes (basis Rotterdam) is $6.49/mt.

The flat rate used to calculate FOB Mediterranean HSFO cargoes as a freight netback from CIF Mediterranean HSFO cargoes is $7.89/mt.

Fuel oil feedstocks

The flat rate used to calculate FOB Baltics VGO cargoes as a freight netback from CIF NWE VGO cargoes is $10.33/mt.

Please note that spot market bids/offers/trades may, where relevant, also be taken into account when assessing FOB Baltics VGO cargoes.

The flat rate used to calculate FOB Black Sea VGO cargoes as a freight netback from CIF Mediterranean cargoes is $9.51/mt.

The Rotterdam harbor dues used is 87 cents/mt.

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