Platts clarifies quality reflected in global Marine Fuel 0.5% assessments

S&P Global Platts would like to clarify that product reflected in its global Marine Fuel 0.5% cargo and bunker assessments shall not contain chemical compounds at levels that make it non-merchantable in the end-user bunker market.

Platts Marine Fuel 0.5% assessments reflect specifications for RMG fuels as defined by the International Organization for Standardization in document ISO 8217:2010 Petroleum products -- Fuels (class F) -- Specifications of marine fuels, but with a maximum sulfur limit of 0.5% and a minimum viscosity of 30 CST at 50 degrees Celsius.

While the ISO standards do not specify maximum limits for chemical content in marine fuels, based on extensive market engagement Platts understands that unusually high levels of chemicals including styrene, indene, and phenol, either individually or in total, may render the fuel non-merchantable in the bunker market.

Platts is aware that additional testing of fuel oil quality, particularly Gas Chromatography-Mass Spectrometry (GCMS), is being conducted commonly in the broader market due to concerns over the chemicals' potential effects on engine performance at certain levels.

Buyers participating in the Marine Fuel 0.5% Platts Market on Close assessment process have the right to request GCMS testing from the seller at their own expense. The seller should not unreasonably reject this request. Platts would like to remind market participants that such testing for trades within the MOC process should be done promptly and performance should take place within the traded laycans and in line with published nomination guidelines.

If chemical compounds, including styrene, indene, and phenol are present in product sold in the Marine Fuel 0.5%S MOC process, the levels of each chemical compound and their combined levels must be reasonable and reflective of standard market practice.

Product reflected in Platts marine fuel assessments shall not contain petrochemical wastes, residues from acid-catalyzed refining process, spent chemicals, waste lubricants, tar bottoms, or hazardous waste.

On detection of high GCMS levels, Platts may request more information from the seller to explain the source of specific chemicals in the oil.

Please send any comments or questions to oilgroup@spglobal.com and pricegroup@spglobal.com.

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.