S&P Global Platts will begin publishing daily price assessments for IMO-compliant Marine Fuel 0.5% bunkers on delivered and ex-wharf basis at key ports globally from July 1, 2019.
In line with Platts' existing Marine Fuel 0.5% cargo assessments, the new IMO-compliant bunker fuel assessments will reflect specifications for RMG fuels as defined by the International Organization for Standardization in document ISO 8217:2010 Petroleum products -- Fuels (class F) -- Specifications of marine fuels, but with a maximum sulfur limit of 0.5%.
Platts launched Marine Fuel 0.5% cargo and barge assessments at key ports globally on January 2, 2019: http://plts.co/JfwF30pb6ag
The launch of IMO-complaint bunker assessments were first proposed in a subscriber note published March 26, 2018: http://plts.co/FYAl30pb6ao
The new Marine Fuel 0.5% bunker assessments will conform to Platts methodology for high sulfur bunker fuel at the respective locations. Platts will continue publishing high sulfur bunker fuel assessments at locations where they currently exist.
Asia: Platts will publish bunker fuel price assessments on both ex-wharf and delivered basis in Singapore and Fujairah and on a delivered basis in Japan (Tokyo Bay), South Korea (Busan/Ulsan), Hong Kong and Shanghai. Platts will also begin publishing delivered bunker fuel price assessments reflecting a maximum sulfur limit of 0.5% and low sulfur marine gasoil with maximum 0.1% sulfur limit at the east Chinese port of Zhoushan from July 1: http://plts.co/gFLg30pb6at
Platts assessments for delivered bunker prices at all Asian ports will reflect deliveries of 500 mt to 1,500 mt cargoes 5-10 days from the day of publication. Ex-wharf assessments at Singapore will reflect 1,000 mt to 6,000 mt clips for loading 3-15 days forward, and Fujairah will reflect 2,000 mt to 7,000 mt cargoes for loading 5-15 days from the day of publication.
Europe: Platts will publish bunker fuel price assessments on a delivered basis at Algeciras, Durban, Gibraltar, Malta, Piraeus and Rotterdam.
Platts assessments at European and African ports reflect product supplied 1-8 days forward from the date of publication. Typical sizes vary from port to port, but are generally between 300 mt to 1,000 mt. Sizes defined for specific assessments are typical, not minimums and maximums. However, trades reported for volumes outside typical ranges may be considered atypical when assessing standard tradable volumes.
US: Platts will publish bunker fuel price assessments on both an ex-wharf and delivered basis in Houston and New York, on a delivered basis in Los Angeles and on an ex-wharf basis in Balboa.
Platts assessments for Houston and New York ex-wharf prices will reflect deliveries of 250 mt to 1,000 mt 3-7 days from the day of publication, and Houston and New York delivered pricing will reflect deliveries of 250 mt to 500 mt 3-7 days from the day of publication. Platts assessments for delivered bunker prices in Los Angeles will reflect deliveries of 250 mt to 750 mt for 3-10 days from the day of publication. Platts assessments for ex-wharf bunker prices in Balboa will reflect deliveries of 500 mt to 1,500 mt for 3-10 days forward.
MOC PUBLICATION GUIDELINES: Platts will consider for publication in its Marine Fuel 0.5% bunker Market on Close assessment process information from companies that are approved to participate in the high-sulfur bunker fuel MOCs in the respective markets. All Platts MOC and operational guidelines for the existing HSFO bunker assessments in the respective markets would apply to the new bunker assessments.
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