Platts launches B24 HSFO Spore biobunkers assessment, updates B24 LSFO name and GHG savings specifications

Platts, part of S&P Global Commodity Insights, has launched a new daily market-based assessment for Singapore-delivered B24 Biobunkers HSFO, effective March 3, 2025.

Platts has also updated the names of its existing Bio-bunkers Singapore LSFO assessments, and has updated the specifications for its B24 biobunkers Singapore assessments to include a minimum greenhouse gas savings specification, also effective March 3.

B24 Biobunkers HSFO Singapore

The new assessment reflects a marine fuel blend of 24% biodiesel with high sulfur fuel oil (HSFO). Platts publishes the Singapore biobunkers market-based assessment as a differential to Platts FO 380 CST 3.5%S FOB Spore Cargo (PPXDK00) and as an outright value. The new assessment considers biobunker stems with volumes of 1,000-2,000 mt. Other specifications would match those of the existing B24 LSFO Singapore assessments.

The assessment specifications are as follows:

Other delivery periods and volumes may be considered in the Platts Market on Close assessment process and normalized back to the above specifications.

The Singapore HSFO assessment considers market information reported to Platts and publishes the information as heards throughout the day, including firm bids and offers, trades and indicative values, as well as any other data deemed relevant to the assessment process.

In the absence of observable spot market activity, Platts may consider other verifiable data reported.

The daily assessment reflects a 5:30 pm Singapore time market close and follows the Platts Singapore publishing schedule.

The assessment is published on Platts Biofuels Alert (PBF2500), in the Bunkerwire Report, Biofuelscan report and Biomass-Based Diesel Report.

B24 Biobunkers LSFO Singapore

In addition, Platts has updated the name of its current Bio-bunkers Singapore LSFO assessments to B24 Biobunkers LSFO Singapore to show the specific biofuels blend ratio for the assessments. The symbols affected are Bio-Bunkers Singapore LSFO Outright Price (LSFOO00) and Bio-Bunkers Singapore LSFO Premium (LSF0B00).

The B24 biobunkers HSFO Singapore assessment launch and B24 biobunkers LSFO Singapore name change were first proposed on Dec. 20, 2024, followed by a decision note published on Feb. 3, 2025.

GHG Savings Specifications

Platts has also updated the specifications for its B24 biobunkers Singapore assessments to include a minimum greenhouse gas savings specification, in line with market practice.

The biobunker stems considered for the Singapore biobunker assessments would have to specify a minimum of 84% GHG savings for the biofuel component, which is equivalent to the default emissions value of 14.9 gCO2eq/MJ against the 94 gCO2eq/MJ comparator, under the EU Renewable Energy Directive (RED).

Further details of the Singapore biobunker assessment specifications can be found here .

The change in specifications is applied to the below Singapore biobunker assessments, including the new B24 Biobunkers HSFO Singapore assessment launched today:

LSFOO00 – B24 Biobunkers LSFO Singapore Outright Price

LSFOB00 – B24 Biobunkers LSFO Singapore Premium

HSFOO00 – B24 Biobunkers HSFO Singapore Outright Price

HSFOB00 – B24 Biobunkers HSFO Singapore Premium

The change in specifications was first proposed on Feb. 17, followed by a decision note published on Feb. 26.

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

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