Platts removes non-standard pricing bases for 0.5%S Marine Fuel CIF Med cargoes MOC

Platts, part of S&P Global Commodity Insights, will no longer publish bids and offers using non-standard pricing bases in the Mediterranean Fuel Oil cargoes Market on Close assessment process, effective immediately.

Based on market feedback, Platts understands that standard market practice is to use 0.5%S FOB Rotterdam barges as a pricing basis in the Mediterranean fuel oil spot market for 0.5%S marine fuel cargoes.

Platts understands that 0.5%S CIF and FOB Med cargoes may be used as a pricing basis in some term contracts, but are not typical for cargoes trading in the spot market.

Therefore, Platts will no longer publish bids and offers using the following pricing bases in the 0.5%S Marine Fuel CIF Med cargoes MOC:

0.5% CIF Mediterranean marine fuel cargoes

3.5% FOB Rotterdam barges

3.5% CIF Mediterranean cargoes

3.5% FOB Mediterranean cargoes

EFP relative to ICE LSGO

Platts continues to seek feedback on the use of 1%S FOB Med and 1%S CIF Med cargoes as a pricing basis for 1%S fuel oil cargoes trading in the Mediterranean spot market.

Platts monitors evolving market practices on an ongoing basis and continues to invite industry feedback. Platts may provide additional guidance to its assessment standards as and when required.

Please send any further feedback, questions or comments to Europe_products@spglobal.com, asia_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 to the public upon request.