Platts renames, updates NYH 3%S fuel oil specifications to RMG

Following market feedback, S&P Global Platts has updated the specifications reflected in its benchmark New York Harbor 3%S delivered cargo assessment to reflect RMG 380 3.5%S quality fuel oil, as per ISO 8217:2010 specifications, and has changed the name of the assessment to reflect this with effect from Jan. 4, 2021. This assessment will continue to be published under the code PUAAX00 in the Platts price database.

SPECIFICATION CHANGE: Platts understands that fuel oil meeting the NYH 3% delivered assessment specification is now typically used for blending for the high sulfur bunker market. Platts therefore has amended the assessment to directly reflect this end-use by the bunker sector to meet maritime fuel oil demands, conforming to RMG 380, ISO 8217:2010 standard for petroleum products - Fuels (Class F) - Specifications of Marine Fuels.

This will also align it with the specifications of USGC HSFO. RMG specifications under ISO 8217:2010 include the following parameters:

Sulfur: Max 3.5% Gravity

Min: 11.2 API

Viscosity: Max 380 CST at 50 C

Vanadium: Max 350 ppm

Al+Si: Max 60 ppm

Flash point: Min 60 C

Pour point: Max 30 C

Water: Max 0.5%

Ash: Max 0.1%

NAME UPDATE: Platts has renamed this assessment "USAC HSFO" and standardized the name of the assessment across publications.

The assessment was previously published in US Marketscan as "No. 6 3%S," in Oilgram Price Report as "No. 6 3.0%S max," in European Marketscan as "No. 6 3.0%" in the New York Harbor table and in Latin Wire as "Fuel Oil 3%S" under the table for New York products.

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