Platts to include FSUs in ex-wharf Singapore bunker assessments from Sept 1

S&P Global Platts will start reflecting approved floating storage units as additional delivery points in its ex-wharf Singapore bunker assessments for 380 CST HSFO and Marine Fuel 0.5% sulfur beginning Sept. 1 , 2021.

The decision follows extensive engagement with the market on this subject since Platts first published this proposal on July 2, 2001. (https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/070221-platts-proposes-to-include-fsus-in-ex-wharf-singapore-bunker-assessments)

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, the Platts MOC process for ex-wharf bunkers will require that sellers specifically name the vessel used as a loading point at the time of submitting offers to Platts for publishing.

Platts will 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 will be on ex-wharf FSU basis.

Sellers cannot unilaterally nominate an approved vessel as a delivery point in ex-wharf Singapore trades. Buyers can 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 questions and comments to asia_products@spglobal.com and pricegroup@spglobal.com.

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