SUBSCRIBER NOTE: Platts proposes to update specifications on NWE HSFO cargoes

Following consultation with the industry, Platts proposes to update the specification on its CIF (and FOB) Northwest Europe 3.5% sulfur fuel oil cargo assessments.

In order to continue to reflect typical flows of cracked Russian quality M-100 in the assessment, Platts proposes to assess a higher viscosity of 650-700 CST, an (unchanged) density of 0.991 kg/l maximum, 60 ppm maximum aluminum and silicon, and a water content of 0.50%.

Platts recognizes that the quality of M-100 may vary widely in density, viscosity, water content and metals, among other factors, and proposes to reflect typical levels on other relevant parameters.

The CIF NWE assessment reflects the value of cargoes of 25,000-30,000 mt or 30,000 mt each, delivered CIF basis Rotterdam.

Platts currently also publishes a FOB Baltic ports netback value based on the CIF NWE HSFO (M-100) assessment. The quality reflected in this netback value would also change, in line with the underlying CIF assessment.

Platts proposes that this change come into effect from January 1, 2017, but also seeks feedback on the timing of implementation.

Please send any comments and queries to europe_products@platts.com and pricegroup@platts.com by July 15.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.