Platts to update B24 Biobunkers Singapore assessment GHG savings specifications

Platts, part of S&P Global Commodity Insights, will update the specifications for its B24 biobunker Singapore assessments to include a minimum greenhouse gas savings specification, effective March 3, 2025.

In line with market practice, the biobunker stems considered for the assessments would have to specify a minimum of 84% GHG savings for the biofuel component.

The biodiesel blended with the fuel oil should meet a minimum of 84% reduction in GHG emissions against the 94 gCO2eq/MJ comparator, which is equivalent to the default emissions value of 14.9 gCO2eq/MJ under the EU Renewable Energy Directive (RED).

The Platts methodology will continue to state that biobunker stems must adhere to proof of sustainability obtained in the framework of voluntary schemes approved by the EU Commission, such as ISCC or any other recognized industry equivalent.

Further details of the Singapore biobunker assessment specifications can be found here(opens in a new tab).

The change in specifications will apply to the following Singapore biobunker assessments:

LSFOO00 – B24 Biobunkers LSFO Singapore Outright Price

LSFOB00 – B24 Biobunkers LSFO Singapore Premium

In addition, the minimum 84% savings requirement will also apply to the below assessments, launching March 3 (details available here(opens in a new tab)):

HSFOO00 – B24 Biobunkers HSFO Singapore Outright Price

HSFOB00 – B24 Biobunkers HSFO Singapore Premium

Please send any questions, comments or feedback to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com.

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