Platts launches new Singapore biobunkers market-based assessment Aug 1

Platts, part of S&P Global Commodity Insights, has launched a new daily market-based delivered biobunkers Singapore assessment, effective Aug. 1.

The new market-based assessment reflects standards set in the document ISO 8217:2017 specifications of marine fuels, as well as standards set by Singapore's Maritime Port Authority on specifications of marine biofuels (WA 2:2022). Platts recognizes the new ISO 8217:2024 specifications of marine fuels and will consider indications using this standard within the assessment.

The new assessment reflects marine fuel blends of maximum 24% biodiesel with low sulfur fuel oil. Platts publishes the prices of Singapore biobunkers as a differential to Platts Marine Fuel 0.5% (AMFSA00) and as an outright assessment.

The assessment specifications are as follows:

Other delivery periods and volumes may be considered in the Platts Market on Close assessment process and normalized back to the above specifications.

Biobunkers stems must adhere to a proof of sustainability obtained in the framework of voluntary schemes approved by the EU Commission, such as ISCC or RSB.

Platts will not consider biobunkers that use palm oil methyl ester as a biocomponent.

The new daily biobunkers assessment is timestamped to 5:30 pm Singapore time.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications of value.

In the absence of observable spot market activity, Platts may consider other verifiable data reported.

Platts observes direct market activity as well as the effect of movements in related markets through spread differentials, for example. This information will be published as price heards.

The assessment is published on Platts Biofuels Alert (PBF2500), in the Bunkerwire Report, Biofuelscan Report and Biomass-Based Diesel Report.

This follows a decision note published July 3 and a proposal note published April 23.

Platts also publishes a daily cost-based B24 Singapore biobunkers assessment reflecting a ratio of 76% fuel oil based on the Platts benchmark Marine Fuel 0.5% Bunker Dlvd Spore $/mt assessment (MFSPD00) and 24% used cooking oil methyl ester based on the Platts UCOME FOB Straits $/mt assessment (UCFCB00).

Please submit any further comments, feedback or questions to MRTS_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.