Platts updates global LNG Bunker assessment specifications

Platts, part of S&P Global Commodity Insights, has updated the specifications reflected in its daily global LNG Bunker assessments, effective Aug. 29.

The changes have been made in line with industry feedback and observed trading patterns, and are as follows:

Quality: For Rotterdam LNG Bunkers, Barcelona LNG Bunkers and East China LNG bunkers, Platts reflects bunker fuel quality as defined by the International Organization for Standardization in document ISO 23306: 2020, which defines relevant parameters for LNG used as a marine fuel. As such, the above assessments reflect a minimum Methane Number of 75, following the Propane Knock Index (PKI) method. The quality specification does not apply to the Singapore LNG Bunker, US Southeast Coast LNG Bunker, or Rotterdam Bio-LNG Bunker assessments.

Volume: For Singapore LNG Bunkers and East China LNG Bunkers, the assessments reflect a minimum volume of 2,000 cu m, instead of the earlier specification of 1,000 cu m. Volume specifications for the other assessments remain the same.

Platts may continue to consider bids, offers, and trades outside of the standard terms for publication, and these may be subject to normalization for price assessments.

Platts communicated the above changes July 31 in a subscriber note available here, having first proposed the changes July 1 in a subscriber note available here.

Please send questions to LNGeditorialteam@spglobal.com and pricegroup@spglobal.com.

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