Platts proposes to launch Cristobal marine fuel 0.5%S assessment, Panama Canal value

Platts, part of S&P Global Commodity Insights, is proposing to create a marine fuel 0.5%S ex-wharf assessment in Cristobal and publish a value for the Panama Canal reflecting the most competitive between the Balboa and Cristobal assessments, effective April 3.

The Cristobal assessment would be 500-1,000 mt for 3-10 days out, in line with the current ex-wharf Balboa assessment.

In addition, Platts is proposing to publish a value for marine fuel 0.5%S for the Panama Canal. This would reflect the most competitive price between the Balboa and Cristobal assessments. This is also published for MGO and IFO 380.

Platts currently assesses marine fuel 0.5%S only in the port of Balboa.

Platts understands that while most bunkering in Panama occurs in Balboa, shipowners can request optionality to pick up fuel at either Balboa or Cristobal.

While there may be periods of little to no difference in pricing between Balboa and Cristobal, Platts has seen instances of price variation due to limited supply in Cristobal and congestion at the canal.

The IMO-compliant marine fuel 0.5% bunker assessments reflect specifications for RMG fuels as defined by the International Organization for Standardization in document ISO 8217:2010 Petroleum products Fuels (class F) Specifications of marine fuels, but with a maximum sulfur limit of 0.5% and a minimum viscosity of 30 CST at 50 degrees Celsius.

Please send any feedback or questions by Feb. 24, 2023, to Americas_bunkers@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.