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

Platts, part of S&P Global Commodity Insights, started daily assessments for Marine Fuel 0.5% sulfur bunker delivered at key western ports in South Korea on Oct. 3, 2022.

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

Marine fuel 0.5%S bunker assessments 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 reflect a maximum sulfur limit of 0.5% and a minimum viscosity of 30 CST at 50 degrees Celsius.

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

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

Buyers and sellers participating in the Platts Market on Close assessment process are 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 appear on Platts Bunker Alert page 2850, Platts Shipping Alert page 210 and Platts Bunkerwire publication.

Please send all comments and questions to asia_products@spglobal.com and pricegroup@spglobal.com.

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