S&P Global Platts is inviting feedback on a proposal to include Indonesia's PT Oiltanking Karimun terminal as a loading point in the Platts Singapore Market on Close assessment process for fuel oil and Marine Fuel 0.5%S.
Under the proposal, Platts would publish standalone offers of fuel oil and Marine Fuel 0.5%S cargoes loading from PT Oiltanking Karimun in the Singapore MOC process for fuel oil and Marine Fuel 0.5%S.
Platts would publish such offers on FOB Indonesia (FOB ID) basis, where the seller must clearly state the loading point as FOB Karimun at the time of communicating their interest to Platts for publication. Platts does not publish FOB Indonesia bids.
For trades reported on FOB Straits basis, sellers may not unilaterally nominate Karimun as a loading point, though it may be agreed by mutual consent, and should deliver from approved terminals in Singapore and Malaysia.
Platts uses the Singapore MOC process to assess the value of oil across Asia and the Middle East. The benchmark FOB Singapore price assessments reflect FOB Straits bids, offers and trades, wherein the seller may nominate cargoes for loadings from approved terminals in Singapore, Malaysia and Indonesia.
From July 3, 2017, Platts began publishing standalone offers of oil product cargoes loading from the PT Oiltanking Karimun terminal in the Singapore MOC assessment process for gasoil, jet fuel and gasoline.
The list of Straits terminals reflected in the FOB Singapore MOC process is published in the specifications guide "Asia Pacific And Middle East Refined Oil Products" at https://www.spglobal.com/platts/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/asia-refined-oil-products-methodology.pdf
Located in Karimun Island, PT Oiltanking Karimun is 65% owned by Oiltanking and 35% by Gunvor Group. The terminal has a total storage capacity of 730,000 cu m and four jetties, of which Jetty 2 has a maximum draft of 23 meters and able to accommodate up to LR2-sized ships.
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.