Platts opens consultation on European 0.5%S marine fuel best practice

S&P Global Platts is opening a formal consultation on best market practices and expectations for quality testing in its 0.5%S marine fuel FOB Rotterdam barge assessments.

Based on the feedback, Platts may seek to publish new operational guidance for participation in the Market on Close assessment process, which would improve the quality of the underlying assessments.

In this consultation, Platts invites feedback on the following areas:

• Typical expectations for Total Sediment Potential specifications and the impact of oxygenation on 0.5%S fuel oil blends over time
• Typical expectations for quality specification exclusions, including shale oil, petrochemical wastes, or any other parameters relevant to 0.5%S fuel oil markets
• Typical expectations for sulfur specifications, including when requirements are included for lower than 0.5%S to provide a buffer for sulfur pick-up in lines/on barges

Platts would like to remind market participants that its oil assessments reflect products meeting the parameters detailed in its published methodology, with a requirement that oil must be of broadly merchantable quality.

As stated in Platts published methodology, product reflected in fuel oil assessments "shall not contain petrochemical wastes, residues from acid-catalyzed refining process, spent chemicals, waste lubricants, tar bottoms or hazardous waste".

Furthermore, product that contains any material beyond the trace level that is proven to cause significant ship engine damage is considered unmerchantable.

Platts seeks to ensure that its assessments continue to reflect standard market practice, and that performance against trades reported in the MOC process reflect best practices for operations and delivery of bunkers-suitable product.

Please send all comments to europe_products@spglobal.com and pricegroup@spglobal.com by May 19, 2021.

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.