Platts proposes Mumbai bunker assessments

Platts is seeking feedback on a proposal to launch Mumbai bunker assessments for 180 CST bunker fuel, 380 CST bunker fuel and marine gasoil oil effective June 1, 2010.

The daily assessments would reflect bids, offers and trades for bunker fuel delivered at both Mumbai and Jawaharlal Nehru Port Trust (JNPT) ports in west India, between 3-7 days from date of publication.

Typical trading volumes in Mumbai range from 300 mt to 2,500 mt. Currently, India's annual bonded bunker sales at its 199 major and minor ports are estimated at 1.2 million mt. The two ports in Mumbai annually account for about 180,000 mt of this volume and about 2,000 vessels call at the two ports. Cargo turnover is estimated annually at 52 million mt.

The price assessments will appear in Platts Bunkerwire, Platts Global Alert's bunker fuel add-on pages, and in the Platts price and statstics database.

Please send all comments to asia_bunkers@platts.com and pricegroup@platts.com.