Platts updates European Fuel Oil netback formulae to reflect revised Antwerp flat rates, effective June 1

Platts, part of S&P Global Commodity Insights, has updated the European fuel oil netback and net-forward assessments to reflect an increase in Port Tariffs for the port of Antwerp, as detailed in Worldscale Circular No. 24 (2023).

Low sulfur fuel oil

Platts has updated relevant Worldscale annual flat rates for LSFO cargoes in Northwest Europe and the Mediterranean.

The flat rate used to calculate CIF NWE LSFO cargoes as a freight net-forward from FOB NWE LSFO cargoes is now $7.66/mt.

The flat rate used to calculate CIF Mediterranean LSFO cargoes as a freight net-forward from FOB NWE LSFO cargoes, in the absence of other daily bid/offer/trades information, is now $14.38/mt.

The flat rate used to calculate FOB Mediterranean LSFO cargoes as a freight netback from CIF Mediterranean LSFO cargoes remains $7.97/mt.

High sulfur fuel oil

Platts has updated relevant Worldscale annual flat rates for HSFO cargoes in Northwest Europe and the Mediterranean.

The flat rate used to calculate FOB NWE HSFO cargoes (basis Baltics) as a freight netback from CIF NWE HSFO cargoes (basis Rotterdam) is now $6.57/mt.

The flat rate used to calculate FOB Mediterranean HSFO cargoes as a freight netback from CIF Mediterranean HSFO cargoes remains $7.89/mt.

Marine fuel

The flat rate used to calculate FOB Mediterranean Marine Fuel 0.5% cargoes as a freight netback from CIF Mediterranean Marine Fuel 0.5% cargoes remains $7.08/mt.

Fuel oil feedstocks

The flat rate used to calculate FOB Baltics VGO cargoes as a freight netback from CIF NWE VGO cargoes remains $10.33/mt.

Please note that spot market bids/offers/trades may, where relevant, also be taken into account when assessing FOB Baltics VGO cargoes.

The flat rate used to calculate FOB Black Sea VGO cargoes as a freight netback from CIF Mediterranean cargoes remains $9.51/mt.

The Rotterdam harbor dues used is 87 cents/mt.

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