Platts may publish origin-restricted information in Asia HSFO MOC process

In light of a G7-led coalition's decision to impose price caps on seaborne Russian petroleum products, Platts, part of S&P Global Commodity Insights, has received inquiries from a number of market participants around the inclusion of Russia-related origin restrictions in their bids, offers and indications to trade in the Singapore high-sulfur fuel oil Market on Close assessment process.

Given the importance of verifiable market information, particularly at a time of uncertainty around regulations and implication of the recently announced price caps, Platts will consider for publication bids, offers and indications to trade that include restrictions on origin, where appropriate, effective immediately.

Published bid, offer and trade information that deviates from Platts standard may be subject to normalization to open-origin basis, and depending on the extent of the deviation, may not be fully reflected in the final assessment. Platts benchmark Asia HSFO price assessments reflect merchantable open-origin cargoes loading from approved loading points in the FOB Straits.

Companies must notify Platts of their intention to submit non-standard information, including any origin restrictions, prior to the MOC process. Platts makes no commitment to publish every bid or offer submitted to it, particularly if they are deemed to be unperformable or overly restrictive.

Please send any comments or questions to Asia_products@spglobal.com and copy 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.