Platts to start Singapore 500 CST bunker assessment on August 15

Platts proposes to launch a new price assessment for 500 CST fuel oil on an ex-wharf and delivered basis for the Singapore market with effect from August 15, 2011.

The assessment will be published on a daily basis, and be labeled 500 CST. Sales of 500 CST fuel oil in Singapore have grown from 2.6 million mt in 2005 to 5.287 million mt in 2010, according to data from the Maritime Port Authority of Singapore.

Platts' assessed specifications will conform to those for RMK 700. Approximate Kinematic Viscosity: max 500 CST at 50 degrees C.

Flash point: min 60 deg C. Pour point (upper) winter quality: max 30 deg C; summer quality: same. Ash: max 0.15 m/m. Sulfur: max 4.5%. Vanadium max 600 mg/kg. Aluminum plus silicon: max 80 mg/kg. Water: max 0.5% (ISO 8217:2005).

Published bids, offers and trades during the Platts Market on Close assessment process up to 0930 GMT will take precedence when assessing 500 CST fuel oil.

In the absence of market bids and offers, the 500 CST price assessments will reflect the viscosity spread from the current assessed 380 CST bunker fuel grade.

For comments or queries, please contact asia_oilproducts@platts and pricegroup@platts.com by July 29, 2011.