Platts proposes to include FSUs in ex-wharf Singapore bunker assessments

S&P Global Platts is inviting feedback on a proposal to reflect approved floating storage units as delivery points in its ex-wharf Singapore bunker assessments for 380 CST HSFO and Marine Fuel 0.5% sulfur beginning Sept. 1, 2021.

The proposal follows Platts observation of the growing role of ex-wharf deliveries off floating storage units in the Singapore bunker market.

Platts already reflects loadings from FSUs in its Market on Close assessment process for benchmark FOB Singapore high sulfur fuel oil and Marine Fuel 0.5% cargo assessments.

In line with Platts guidelines for the above-mentioned cargo assessments, Platts MOC process for ex-wharf bunkers would require that sellers specifically name the vessel used as a loading point at the time of submitting offers to Platts for publishing.

Platts proposes to reflect ex-wharf deliveries from all FSUs already approved as delivery point for the FOB Singapore HSFO and MF 0.5% cargo assessments.

Any offer of oil from vessels approved for the MOC process would be on ex-wharf FSU basis.

Sellers cannot unilaterally nominate an approved vessel as a delivery point in ex-wharf Singapore trades. Buyers would be expected to only nominate barges approved by Singapore Maritime Ports Authority for loading bunker on an ex-wharf basis from approved FSUs for trades reported in the MOC process.

The list of approved FSUs can be found in the Platts methodology guide for Asia Pacific & Middle East Refined Oil Products at https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/oil

Please send all feedback and comments to asia_products@spglobal.com and pricegroup@spglobal.com by July 28, 2021.

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.