Platts clarifies USGC fuel oil MOC nomination standards

In the interest of aligning the US Gulf Coast fuel oil market to explicitly reflect typical market practices, Platts is defining the nomination standards for transactions that take place in the Market on Close assessment process.

In this FOB market, the seller should nominate the terminal within the specified port (i.e. Houston, New Orleans) to the buyer at least 72 hours prior to the first day of the laycan.

The buyer should then nominate the lifting date or dates within that laycan at least 48 hours prior to the first day of the laycan.

The seller should then provide specification details to the buyer at least 24 hours prior to the lifting date nominated by the buyer -- a hand blend would meet this standard.

Please contact Americas_products@platts.com and pricegroup@platts.com for questions or comments.