Platts proposes to launch B30 Singapore biobunker assessments, update B24 LSFO volume

Platts, part of S&P Global Commodity Insights, proposes to launch B30 Singapore biobunkers assessments and to update the volume specification for the existing B24 low sulfur fuel oil assessments, to better reflect current market dynamics, effective Oct. 1, 2025.

B30 Biobunkers Singapore

The proposal follows a transition from B24 to B30 biodiesel blends observed in the Singapore biobunkers market, with increasing volumes of the B30 grades traded in Singapore. The Maritime and Port Authority of Singapore also raised the allowable biofuel blend carriage limit from 25% to 30% on conventional bunker tankers operating in Singapore from March 7, 2025, removing logistical barriers for delivering B30 stems.

The new assessments would reflect the marine fuel blend of 30% biodiesel with low-sulfur or high sulfur fuel oil delivered in Singapore. Platts would publish the market-based assessments as a differential to the respective Platts fuel oil FOB Singapore cargo assessments, and as an outright value. The other specifications would match those of the existing equivalent B24 biobunkers assessments.

The assessment specifications would be 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.

The assessment would reflect specification standards in line with the ISO 8217:2017. Platts recognizes the latest ISO 8217:2024 specifications for marine fuels and would consider indications using this standard within the assessment.

The biobunker stems considered for the new Singapore biobunker assessments would reflect bio-components that hold proof of sustainability obtained in the framework of voluntary schemes approved by the European Commission, such as ISCC.

In addition, the biobunker stems would specify a minimum of 84% greenhouse gas savings for the biofuel component, which is equivalent to the default emissions value of 14.9 gCO2eq/MJ against the 94 gCO2eq/MJ comparator, under the EU Renewable Energy Directive.

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

The new daily biobunkers assessments would be timestamped to 5:30 pm Singapore time market close and would follow the Platts Singapore publishing schedule.

Platts spot price assessments consider market information reported to Platts and publishes the information 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.

The assessment would be published on Platts Biofuels Alert, in the Bunkerwire Report, Biofuelscan Report, and Biomass-Based Diesel Report.

B24 Biobunkers LSFO Singapore

In addition, Platts proposes to update the volume of its current B24 biobunkers LSFO Singapore assessments (LSFOB00 and LSFOO00) to 500-1,500 mt, from 500-1,000 mt, effective Oct. 1. This proposal follows feedback from market participants on the increasing stem size of B24 LSFO transactions and the trade data observed by Platts. Other specifications of the existing B24 LSFO assessments would remain unchanged.

Please send any questions, comments, or feedback to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com by Aug. 29.

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