Platts to reflect Oiltanking Karimun in Singapore fuel oil, Marine Fuel 0.5% MOC from Jun 1

S&P Global Platts will start publishing standalone offers of fuel oil and Marine Fuel 0.5% cargoes loading from Indonesia's PT Oiltanking Karimun terminal in the Singapore Market on Close assessment process for fuel oil and Marine Fuel 0.5% from June 1, 2020.

Platts will publish such offers on FOB Indonesia (FOB ID) basis, where the seller must clearly state the loading point as FOB Karimun at the time of communicating their interest to Platts for publication. Platts does not publish FOB Indonesia bids.

Platts will continue to review the relative value of deliveries made from Indonesian terminals compared to deliveries from landed storage within Singapore itself, and adjust normalization values as appropriate.

For trades reported on FOB Straits basis, sellers may not unilaterally nominate Karimun as a loading point, though it may be agreed by mutual consent, and should deliver from approved terminals in Singapore and Malaysia.

Platts first proposed including the PT Oiltanking Karimun terminal in a subscriber note published March 13, 2020: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/031320-platts-proposes-to-reflect-oiltanking-karimun-in-singapore-fuel-oil-marine-fuel-05s-moc.

Platts uses the Singapore MOC process to assess the value of oil across Asia and the Middle East. The benchmark FOB Singapore price assessments reflect FOB Straits bids, offers and trades, wherein the seller may nominate cargoes for loadings from approved terminals in Singapore, Malaysia and Indonesia.

From July 3, 2017, Platts began publishing standalone offers of oil product cargoes loading from the PT Oiltanking Karimun terminal in the Singapore MOC assessment process for gasoil, jet fuel and gasoline.

The list of Straits terminals reflected in the FOB Singapore MOC process is published in the specifications guide "Asia Pacific And Middle East Refined Oil Products" at /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Asia-refined-oil-products-methodology.pdf.

Located in Karimun Island, PT Oiltanking Karimun is 65% owned by Oiltanking and 35% by Gunvor Group. The terminal has total storage capacity of 730,000 cu m and four jetties.

Please send any feedback or questions to asia_products@spglobal.com and pricegroup@spglobal.com.

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