Singapore HSFO conversion rate proposal

Following an extensive feedback period, Platts will defer the implementation date for the alignment of Singapore high sulfur fuel oil conversion factors to 6.35 barrels/mt.

The change will now take effect from July 1, 2011.

Platts initially proposed an implementation date of January 1, 2011, but following industry feedback Platts has determined that a longer notice period is practical.

The fuel oil market trades in dollar per metric tonne and Platts physical assessments are expressed in dollars per metric tonne.

However, Platts also databases fuel oil assessments basis FOB Singapore in dollars per barrel.

In more detail:

Platts proposes to amend the published conversion factor applied to databased price assessments of HSFO 180 CST and HSFO 380 CST FOB Singapore, to 6.35 barrels/mt. For 180 CST cargoes (main Platts database code, PUADV00) and related databased values, a conversion factor of 6.5 is currently published. For 380 CST cargoes (main Platts database code, PPXDK00) and related databased values, a conversion factor of 6.4 is currently published.

For comments and queries, please contact asia_products@platts.com and pricegroup@platts.com.