Platts proposes to eliminate use of hand blends in 0.5%S Marine Fuel, HSFO FOB Rotterdam barge MOC

Platts, part of S&P Global Commodity Insights, proposes to eliminate the use of multi-tank blends, commonly referred to as hand blends, in trades reported through the FOB Rotterdam 0.5%S Marine Fuel and HSFO barge Market on Close assessment process, effective September 1.

Through market feedback and performance tracking these are found to be rare and not in line with market standard due to quality concerns.

This proposal follows a consultation that began June 14, 2023:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/061423-platts-opens-consultation-into-use-of-hand-blends-in-05s-marine-fuel-hsfo-fob-rotterdam-barge-moc

In the initial consultation, Platts sought to clarify standard market practice and performance expectations in the FOB Rotterdam 0.5%S Marine Fuel and HSFO barge markets, with regard to the following areas:

How common hand blends are for barge-size transactions in the Amsterdam-Rotterdam-Antwerp market;

The typical number of tanks employed in a hand blend;

Whether mutual agreement and/or a barge composite would be required for a buyer to be supplied material from a hand blend;

Typical expectations for Certificate of Analysis on hand blends, including whether it is common practice for buyers to require testing after loading;

Whether all parameters of ISO 8217:2010 are provided on certificate of analysis prior to FOB barge loadings in ARA.

Please send all comments to Europe_products@spglobal.com and pricegroup@spglobal.com by Aug. 14.

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 confidential available upon request.