Platts eliminates use of hand blends in 0.5%S Marine Fuel, HSFO FOB Rotterdam barge MOC

Platts, part of S&P Global Commodity Insights, has eliminated the use of multi-tank blends, commonly referred to as hand blends, in trades reported through the FOB Rotterdam 0.5%S Marine Fuel and HSFO barge Market on Close assessment process, effective Oct. 2, 2023.

Through market feedback and performance tracking these are found to be rare and not in line with market standards due to quality concerns.

Platts decided to eliminate the use of multi-tank blends on Aug. 16 in a subscriber note available at https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081623-platts-to-eliminate-use-of-hand-blends-in-05s-marine-fuel-hsfo-fob-rotterdam-barge-moc-oct-2.

This decision followed market feedback from a consultation that began June 14, 2023, available at https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/061423-platts-opens-consultation-into-use-of-hand-blends-in-05s-marine-fuel-hsfo-fob-rotterdam-barge-moc and a proposal published July 26 https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/072623-platts-proposes-to-eliminate-use-of-hand-blends-in-05s-marine-fuel-hsfo-fob-rotterdam-barge-moc.

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