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SUBSCRIBER NOTE: Platts proposes new $/mt assessments, MOC process for US marine fuel 0.5%S

S&P Global Platts proposes to launch new assessments in $/mt for US Gulf Coast and US Atlantic Coast marine fuel 0.5% sulfur with effect from July 1, 2019.

For the Platts Market on Close assessment process for marine fuel 0.5%S in the Americas, Platts proposes to only publish bids, offers and intents to trade for the fuel on a $/mt basis, also with effect from July 1, 2019.

The proposed changes will ensure that Platts physical assessments and processes more closely align with the end-user market for this fuel. Bunker fuel is typically traded and delivered in metric tons.

As suppliers prepare to meet the new global sulfur limit of 0.5% due to come into force in January 2020, Platts understands that the expected range of fuel densities will be significantly greater than for current marine fuels. Lower-density fuels traded in barrels would result in lower delivered quantity in mass.

Platts launched its $/b assessments for USGC and USAC marine fuel 0.5%S assessments on January 2, 2019, in tandem with similar assessments in Rotterdam, Fujairah and Singapore. All of the non-US assessments for marine fuel 0.5%S are published in $/mt.

Since January, Platts has been publishing bids, offers and intents to trade in the MOC process for USGC and USAC marine fuel 0.5%S on a $/b basis. These bids, offers and intents to trade in $/b would no longer be published with effect from July 1, 2019.

Platts will continue to publish the existing USGC and USAC assessments for marine fuel 0.5% on a $/b basis, and proposes to derive these assessments by converting the new $/mt assessments using the existing conversion rate of 6.35.

Please send any queries or feedback to americas_products@spglobal.com and pricegroup@spglobal.com by May 31, 2019.

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.