Platts to launch new European, African Marine Fuel 0.5% bunker assessments

S&P Global Platts will begin publishing daily price assessments for IMO-compliant Marine Fuel 0.5% bunkers on a delivered and ex-wharf basis at several ports, from March 2, 2020.

Platts will add new Marine Fuel 0.5% bunker assessments at the following ports: Gdansk, Algoa Bay, Genoa, Augusta, Lome, Lisbon.

This follows a proposal note published January 28, which can be found here:

https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/012820-platts-proposes-new-european-african-marine-fuel-05-bunker-assessments

Platts assessments at European and African ports reflect product supplied one-eight days forward from the date of publication. Typical sizes vary from port to port, but are generally between 300 and 1,000 mt. Sizes defined for specific assessments are typical, not minimums and maximums. However, trades reported for volumes outside typical ranges may be considered atypical when assessing standard tradable volumes.

In line with Platts existing Marine Fuel 0.5% cargo assessments, the new IMO-compliant bunker fuel assessments will 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%.

Platts understands that residual marine grade fuels with a viscosity of at least 30 CST are currently considered broadly deliverable. Platts does not reflect Marine Fuel 0.5% sulfur barges in its assessment process where the fuel is demonstrably not acceptable or broadly deliverable to bunker buyers, as outlined in the following clarification note, published January 17:

https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/011720-merchantability-of-low-viscosity-marine-fuel-05s-cargoes-in-platts-moc

Platts will continue to review the publication of high sulfur bunker fuel assessments at locations where they currently exist.

Please send any comments or questions to europe_products@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.