Platts proposes to launch B24 HSFO Singapore biobunker assessment and update Singapore LSFO biobunker assessment name March 3

Platts, part of S&P Global Commodity Insights, proposes to launch a Singapore B24 HSFO biobunker assessment, effective March 3, 2025. Platts also proposes to update the name of its current biobunkers Singapore LSFO assessment to better reflect current market dynamics, also effective March 3, 2025.

B24 HSFO Singapore biobunkers

Platts proposes to launch a new assessment for B24 biobunkers, reflecting a blend of 24% biodiesel with high sulfur fuel oil delivered in Singapore, effective March 3.

This proposal follows an increase in the Singapore B24 HSFO biobunker demand seen in 2024. According to the latest data from the Maritime and Port Authority of Singapore, bio-blended HSFO sales reached 14,000 mt in November. Notably, there were no recorded sales of bio-blended HSFO during the same period in 2023, highlighting a substantial shift in market dynamics and an emerging trend in the HSFO biobunker market.

The new assessment would reflect marine fuel blend of 24% biodiesel with HSFO. Platts would publish the Singapore biobunkers market-based assessment as a differential to Platts FO 380 CST 3.5%S FOB Spore Cargo (PPXDK00) and as an outright value. The other specifications would match those for the existing B24 LSFO assessment, reflecting delivery 10-20 days forward and volumes of 500-1,000 mt.

The Singapore HSFO assessment would consider market information reported to Platts and published as heards throughout the day, including firm bids and offers, trades and indicative values, as well as any other data deemed relevant to the assessment process.

The daily assessments would reflect a 5:30 pm Singapore time market close and would follow the Platts Singapore publishing schedule.

B24 LSFO Singapore biobunkers

In addition, Platts is proposing to update the name of its current biobunkers Singapore LSFO assessment name to B24 LSFO Singapore biobunkers, to show the specific biodiesel blend ratio for this assessment. The symbols affected would be Bio-Bunkers Singapore LSFO outright price (LSFOO00) and Bio-Bunkers Singapore LSFO premium (LSF0B00). This change would also take effect on March 3.

This proposal follows market feedback indicating that more clarity was needed on the blend ratio for the biobunker prices published.

Please send any questions, comments or feedback to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com by Jan. 24, 2025.

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.