Following market feedback, Platts will update the specifications reflected in its benchmark New York Harbor 3%S delivered cargo assessment to reflect RMG 380 3.5%S quality fuel oil, as per ISO 8217:2010 specifications, and change the name of the assessment to reflect this, with effect from January 4, 2021.
This assessment will continue to be published under the product code PUAAX00.
Platts understands that fuel oil meeting the NYH 3% delivered assessment specification is now typically used for blending for the high sulfur bunker market. Platts therefore is amending the assessment to directly reflect this end-use by the bunker sector to meet maritime fuel oil demands, conforming to RMG 380, ISO 8217:2010 standard for petroleum products - Fuels (Class F) - Specifications of Marine Fuels. It will also align with the specifications of USGC HSFO.
Currently Platts' 3%S assessments reflects fuel oil with a gravity of minimum 10 API; viscosity of maximum 300 SSF; vanadium of maximum 300 ppm; Al+Si of maximum 80 ppm; flash point of minimum 150 F; BS&W of maximum 1%; ash of maximum 0.1%.
RMG specifications under ISO 8217:2010 include the following parameters:
Sulfur: Max 3.5%
Gravity Min: 11.2 API
Viscosity: Max 380 CST at 50 C
Vanadium: Max 350 ppm
Al+Si: Max 60 ppm
Flash point: Min 60 C
Pour point: Max 30 C
Water: Max 0.5%
Ash: Max 0.1%
Platts will rename this assessment "USAC HSFO" and will standardize the name of the assessment across publications.
The assessment is published currently in US Marketscan as "No. 6 3%S," in Oilgram Price Report as "No. 6 3.0%S max," in European Marketscan as "No. 6 3.0%" in the New York harbor table and in Latin Wire as "Fuel Oil 3%S" under the table for New York products.
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