Platts to update European fuel oil & feedstocks freight netback and net-forward rates Jan 2

Platts, part of S&P Global Commodity Insights, will update the formulae to derive its netback and net-forward assessments to reflect updated Worldscale freight rates for 2024. The changes to the formulae are effective Jan. 2, 2024, for the following assessments:

Low sulfur fuel oil

The flat rate used to calculate CIF NWE LSFO cargoes (PUAAL00) as a freight net-forward from FOB NWE LSFO cargoes will be $7.28/mt.

The flat rate used to calculate CIF Mediterranean LSFO cargoes (PUAAJ00) as a freight net-forward from FOB NWE LSFO cargoes, in the absence of other daily bid/offer/trades information, will be $13.21/mt.

The flat rate used to calculate FOB Mediterranean LSFO cargoes (PUAAK00) as a freight netback from CIF Mediterranean LSFO cargoes will be $7.44/mt.

High sulfur fuel oil

The flat rate used to calculate FOB NWE HSFO cargoes (PUABB00) as a freight netback from CIF NWE HSFO cargoes (basis Rotterdam) will be $6.25/mt.

The flat rate used to calculate FOB Mediterranean HSFO cargoes (PUAAZ00) as a freight netback from CIF Mediterranean HSFO cargoes will be $7.29/mt.

Marine fuel

The flat rate used to calculate FOB Mediterranean Marine Fuel 0.5% cargoes (MFFMM00) as a freight netback from CIF Mediterranean Marine Fuel 0.5% cargoes will be $6.57/mt.

Fuel oil feedstocks

The flat rate used to calculate FOB Baltics VGO cargoes (AAHMX00 and AAHNB00) as a freight netback from CIF NWE VGO cargoes will be $9.73/mt.

Please note that spot market bids/offers/trades may, where relevant, also be taken into account when assessing FOB Baltics VGO cargoes.

The flat rate used to calculate FOB Black Sea VGO cargoes (ABBAD00 and ABBAC00) as a freight netback from CIF Mediterranean cargoes will be $8.91/mt.

Across assessments, the Rotterdam harbor dues used is $1.01/mt.

Please send any comments and feedback to europe_products@spglobal.com and pricegroup@spglobal.com.

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