Platts to launch delivered MF0.5% bunker assessments for western ports in South Korea Oct 3

Platts, part of S&P Global Commodity Insights, will launch daily assessments for Marine Fuel 0.5% sulfur bunker delivered at key western ports in South Korea starting Oct. 3.

The assessment will reflect spot market activity for product deliverable at Incheon, Pyeongtaek, Daesan and Dangjin. Activity in other ports like Gunsan and Mokpo, will be normalized basis Incheon after taking into account logistics costs.

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

The assessments will reflect parcel sizes between 500 mt and 1,500 mt for delivery 5-10 days forward from the date of publication.

The assessment will be published in US $/mt, will reflect market value at the close of Asian trade at 5:30 pm Singapore time (0930 GMT), and will follow the Singapore publishing schedule.

Buyers and sellers participating in the Platts Market on Close assessment process would be required to specify three consecutive days for delivery within the assessment laycan, and may submit bids and offers for the following volume range: 500-600 mt, 600-700 mt, 700-800 mt, 800-900 mt, 900-1,000 mt, 1,000-1,200 mt, 1,100-1,300 mt, 1,200-1,400 mt and 1,300-1,500 mt. Buyers must declare the exact volume to the seller within one working day after the trade has been concluded. Seller should supply material that is merchantable.

The assessments will appear on Platts Bunker Alert page 2850, Platts Shipping Alert page 210 and Platts Bunkerwire publication.

Please send all feedback, comments and questions to asia_products@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.