SUBSCRIBER NOTE: Platts confirms new Singapore fuel oil delivery points

Following feedback on a November 20, 2015 proposal note about considering the Energy Star, Fortune Star and Amity Star tankers as additional delivery points for Platts FOB Singapore fuel oil assessment process, Platts confirms that it will include the floating storage units in its Market on Close assessment process with effect from February 15, 2016. The very large crude carrier Energy Star is operated by BP Singapore Pte. Ltd. and Gunvor Singapore Pte. Ltd. while the VLCC Fortune Star is operated by Mercuria Energy Trading Pte. Ltd. and the VLCC Amity Star is operated by Mitsui & Co Energy Trading Singapore Pte. Ltd. and all are classed as floating storage units, or FSUs. All three vessels are anchored at Tanjung Pelepas in the southern Malaysian province of Johor. There are currently two FSUs approved as additional delivery points in Platts' FOB Singapore fuel oil assessment process. Platts included the VLCC Speranza operated by Vitol Asia Ltd. and the VLCC Jade Palms operated by Itochu Singapore Pte. Ltd. in its MOC process effective September 24, 2015. The standards applicable to approved FSUs require that sellers specifically name the vessel used as delivery point at the time of providing an offer for publication in the MOC process. Any vessel accredited for the FOB Singapore fuel oil assessment process would be on a FOB FSU basis only, and cannot be nominated into an FOB Straits transaction reported during the MOC process except by mutual agreement between counterparties. 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.