Platts launches additional North, South America Marine Fuel 0.5%S bunker assessments

S&P Global Platts has launched new daily price assessments for IMO 2020-compliant 0.5% sulfur marine fuel bunkers on a delivered and ex-wharf basis at several ports in the Americas, from Monday, April 20, 2020.

Platts is publishing 0.5%S marine fuel bunker fuel price assessments on both an ex-wharf and delivered basis in Montreal and San Francisco and on a delivered basis in Callao, Guayaquil, La Libertad and Montevideo.

Platts assessments in San Francisco are 3-10 days forward, with the ex-wharf assessment reflecting volumes from 500 mt to 1,500 mt, and the delivered assessment for 250-750 mt.

The Montreal assessments are for 3-10 days forward, with the ex-wharf assessment reflecting volumes from 250 mt to 1,000 mt and the delivered assessment 250 mt to 500 mt.

The Callao, Guayaquil, La Libertad and Montevideo delivered assessments are 3-7 days forward, reflecting volumes from 250 mt to 1,500 mt.

This assessment was first proposed in a subscriber note published March 6: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/030620-platts-proposes-to-launch-additional-north-south-america-marine-fuel-05-bunkers-assessments

The decision to launch the assessment was announced March 21: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/032120-platts-to-launch-additional-north-south-america-marine-fuel-05s-bunker-assessments

Platts understands that residual marine grade fuels with a viscosity of at least 30 CST are currently considered broadly deliverable.

Platts does not reflect 0.5%S marine fuel barges in its assessment process where the fuel is demonstrably not acceptable or broadly deliverable to bunker buyers, as outlined in the following clarification note, published January 17: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/011720-merchantability-of-low-viscosity-marine-fuel-05s-cargoes-in-platts-moc

Platts will continue to review the publication of high sulfur bunker fuel assessments at locations where they currently exist.

In line with Platts existing 0.5%S marine fuel bunker and cargo assessments, the new IMO 2020-compliant bunker fuel assessments will reflect specifications for RMG fuels as defined by the International Organization for Standardization in document ISO 8217:2010 Petroleum products -- Fuels (class F) -- Specifications of marine fuels, but with a maximum sulfur limit of 0.5%S.

Please send all questions and comments to oilgroup@spglobal.com and pricegroup@spglobal.com.

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