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Platts to amend New York Harbor 1%S fuel oil specifications

Following a formal consultation, S&P Global Platts will amend specifications for the New York Harbor 1%S fuel oil (assessment code PUAAO00) specifications effective January 4, 2021.

Platts will make four changes to the current specification:

  • The addition of max Total Sediment Potential (TSP) of 0.1%
  • The lowering of max water content from 1% to 0.5%
  • The removal of minimum energy requirement of 151,000 BTU/gal
  • The addition of a maximum cleanliness rating of 3 for cleanliness and compatibility

This follows a subscriber note that opened a consultation on all US Atlantic Coast fuel oil assessments that began on April 13: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/041320-platts-opens-consultation-on-usac-residual-fuel-oil-assessments

Platts understands that there remains significant demand for 1% fuel oil in the US Atlantic Coast as a starting component for a blended marine fuel 0.5%S. Market participants said that there remains local production of fuel oil around 1%S in New York and the Canadian East Coast, and market fundamentals make an LSFO/distillate blend a viable option for many bunker suppliers.

Platts current specifications stipulate a minimum viscosity of 70 SSF and a maximum gravity of 18 API, reflecting residual fuel oil.

Platts understands that the addition of a max TSP of 0.1% would ensure the assessment reflects 1% fuel oil that can meet the requirements of a blending component for marine fuel 0.5%S. Alongside this, Platts will remove the current requirement of a sediment by extraction maximum of 0.1%.

Lowering the water content from 1% to 0.5% and removing a minimum energy requirement would further align the specification with bunker suitability.

In the initial consultation, Platts sought market feedback on whether the 1%S fuel oil assessment should move to a finished RMG specification. Market feedback suggested that consistently achieving a 1%S finished RMG specification is challenging given limited blending components available in the region.

Platts' NYH 1%S CIF assessment reflects fuel oil with an Al+Si content of maximum 80 ppm; nitrogen of maximum 0.5%; vanadium of maximum 150 ppm; minimum-maximum gravity of 10.1-18.0 API; minimum-maximum viscosity of 70-250 SSF; flash point of minimum 150 F; pour point of maximum 60 F; ash of maximum 0.1%; BS&W of maximum 1.0%; water by distillation of maximum 1.0%; sediment by extraction of maximum 0.1%; vanadium of maximum 150 ppm; sodium of maximum 60 ppm; asphaltenes of maximum 8%; minimum of 151,000 BTU/gal; H2S of maximum 50 ppm.

Please send any feedback on this decision to americas_products@spglobal.com and pricegroup@spglobal.com. 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.