Platts launches Zhoushan ex-wharf bunker assessment for Marine Fuel 0.5%S

S&P Global Platts has started daily assessments for ex-wharf Marine Fuel 0.5%S bunker at the east China port of Zhoushan on July 1, 2021.

The assessment reflects 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% and a minimum viscosity of 30 CST at 50 degrees Celsius.

The assessment reflects 1,000-6,000 mt clips loading 3-15 days forward from the date of publication.

Buyers and sellers participating in the Platts Market on Close assessment process for ex-wharf bunker are required to specify three consecutive days for loading within the assessment laycan.

Buyers and sellers may submit bids and offers for a minimum of 1,000 mt and in increments of 500 mt up to 6,000 mt. Buyers would be required to nominate the performing barge between two and five working days in advance of the load date. Sellers would be required to notify the buyer of barge acceptance promptly and within a reasonable time. The acceptance is subjected to terminal availability, and the seller should supply material that is merchantable.

The assessment is published in US$/mt, reflects market value at the close of Asian trade at 5:30 pm Singapore time, and follows the Singapore publishing schedule.

The new ex-wharf assessment appears on Platts Bunker Alert pages 2850, 2851, Platts Shipping Alert pages 210, 211 and Platts Bunkerwire publication under the following price database codes:

Assessment Code

Marine Fuel 0.5% Bunker Ex-Wharf Zhoushan MFZHN00

Marine Fuel 0.5% Bunker Ex-Wharf Zhoushan (monthly average) MFZHN03

Zhoushan has emerged as a prominent bunkering hub in Northeast Asia, especially since the International Maritime Organization's mandate to limit sulfur at a maximum of 0.5% for all marine fuel globally came into effect on Jan. 1, 2020.

Platts has published delivered bunker assessments at Zhoushan for Marine Fuel 0.5% and low sulfur marine gasoil with maximum 0.1% sulfur since July 1, 2019.

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