SUBSCRIBER NOTE: Platts launches Marine Fuel 0.5% bunker assessments globally on July 1

S&P Global Platts has begun publishing daily price assessments for IMO-compliant Marine Fuel 0.5% bunkers on delivered and ex-wharf basis at key ports globally from July 1, 2019.

In line with Platts' existing Marine Fuel 0.5% cargo assessments, the new IMO-compliant bunker fuel assessments 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%.

Platts launched Marine Fuel 0.5% cargo and barge assessments at key ports globally on January 2, 2019: http://plts.co/Crnq30p2srl.

The launch of IMO-compliant bunker assessments were first proposed in a subscriber note published March 26, 2018: http://plts.co/T5Fc30p2srV.

The new Marine Fuel 0.5% bunker assessments conform to Platts methodology for high sulfur bunker fuel at the respective locations. Platts will continue publishing high sulfur bunker fuel assessments at locations where they currently exist.

Asia: Platts has begun publishing bunker fuel price assessments on both ex-wharf and delivered basis in Singapore and Fujairah and on a delivered basis in Japan (Tokyo Bay), South Korea (Busan/Ulsan), Hong Kong and Shanghai. Platts has also begun publishing delivered bunker fuel price assessments reflecting a maximum sulfur limit of 0.5% and low sulfur marine gasoil with maximum 0.1% sulfur limit at the east Chinese port of Zhoushan from July 1, Platts assessments for delivered bunker prices at all Asian ports reflect 500 mt to 1,500 mt cargoes for delivery 5-10 days from the day of publication. Ex-wharf assessments at Singapore will reflect 1,000 mt to 6,000 mt clips for loading 3-15 days forward, and Fujairah will reflect 2,000 mt to 7,000 mt cargoes for loading 5-15 days from the day of publication.

The new daily bunker fuel assessments appear on Platts Global Alert page 2850, Platts Shipping Alert page 210 and Platts Bunkerwire publication, while the monthly averages appear on PGA page 2851, SHP page 211 and Platts Bunkerwire Monthly publication.

Details of the price database codes for these Asia assessments can be found in the following link: http://plts.co/zfVO30p2ss5.

Europe: Platts has begun publishing bunker fuel price assessments on a delivered basis at Algeciras, Durban, Gibraltar, Malta, Piraeus and Rotterdam.

Platts assessments at European and African ports reflect product supplied 1-8 days forward from the date of publication. Typical sizes vary from port to port, but are generally between 300 mt and 1,000 mt. Sizes defined for specific assessments are typical, not minimums and maximums. However, trades reported for volumes outside typical ranges may be considered atypical when assessing standard tradable volumes.

The new daily bunker fuel assessments appear on Platts Global Alert pages 1860 and 1850, Platts Shipping Alert pages 1220 and 1210 and Platts Bunkerwire publication. The monthly averages appear on PGA pages 1851 and 1861, Platts Shipping Alert pages 1211 and 1221 and Platts Bunkerwire Monthly publication.

US: Platts has begun publishing bunker fuel price assessments on both an ex-wharf and delivered basis in Houston and New York, on a delivered basis in Los Angeles and on an ex-wharf basis in Balboa.

Platts assessments for Houston and New York ex-wharf prices reflect deliveries of 250 mt to 1,000 mt 3-7 days from the day of publication, and Houston and New York delivered pricing reflect deliveries of 250 mt to 500 mt 3-7 days from the day of publication. Platts assessments for delivered bunker prices in Los Angeles reflect deliveries of 250 mt to 750 mt for 3-10 days from the day of publication. Platts assessments for ex-wharf bunker prices in Balboa reflect deliveries of 500 mt to 1,500 mt for 3-10 days forward.

The new daily bunker fuel assessments appear on Platts Global Alert pages 860, 862 and 870, Platts Shipping Alert pages 2210, 2220 and 2240 and Platts Bunkerwire publication. The monthly averages appear on PGA pages 861, 863 and 871, Platts Shipping Alert pages 2211, 2221 and 2241 and Platts Bunkerwire Monthly publication.

MOC PUBLICATION GUIDELINES: Platts considers for publication in its Marine Fuel 0.5% bunker Market on Close assessment process information from companies that are approved to participate in the high sulfur bunker fuel MOCs in the respective markets. All Platts MOC and operational guidelines for the existing HSFO bunker assessments in the respective markets apply to the new bunker assessments.

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

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