Platts clarifies USAC residual fuel oil basis

Platts US Atlantic Coast fuel oil assessments reflect material delivered basis New York Harbor (NYH). Effective June 1, 2010, Platts changed the location of its US Atlantic Coast residual fuel oil cargo assessments' basis to New York Harbor, but stated the terms as basis CFR NYH, not delivered basis NYH.

Delivered basis NYH is the typical term used in the US Atlantic Coast residual fuel oil market to indicate deliveries ex-ship. Bids, offers, and transactions that reflect delivery to a basis other than New York Harbor, i.e. Boston-Maryland range, will be normalized by using prevailing freight rates.

Please respond with comments or questions to Esa Ramasamy, esa_ramasamy@platts.com, with a cc to pricegroup@platts.com.