Platts proposes to launch European methanol bunker fuel price assessments

S&P Global Platts is proposing to launch daily methanol bunker fuel price assessments, reflecting the value of methanol used as a marine fuel at the port of Rotterdam, effective Sept. 27, 2021.

The proposed launch recognizes growing market demand on the back of an increased build-out in vessels utilizing methanol as a marine fuel and related activities at this major bunkering hub.

Platts is proposing to publish these assessments in $/mt delivered Rotterdam. In determining the assessment, Platts may consider the prevailing tradable value of methanol bunker fuel on a barge-to-ship (delivered) or truck-to-ship (ex-wharf) basis and may take into consideration other local methanol bunkering hubs.

Platts is proposing to assess the differential from its daily methanol FOB Rotterdam spot assessment calculated in $/mt (HPACQ10), publishing the final assessment on a flat-price basis. The methanol bunker fuel assessment flat price would include the logistics costs from the terminal to the barge or truck, and charges for delivery direct to the receiving vessel.

Platts is additionally proposing to publish methanol bunker fuel calculations converted to LNG and oil energy content equivalents, enabling comparison with other marine fuels, using the following factors to convert the methanol price from metric tons:

  • Methanol bunker fuel value as LNG equivalent: 52 GJ/mt for LNG, 21.5 GJ/mt for methanol;
  • Methanol bunker fuel value as marine fuel oil equivalent: 41 GJ/mt for marine fuel oil, 21.5 GJ/mt for methanol.

Alongside the proposed launch of methanol bunker fuel assessments, Platts is further proposing to publish daily cost comparisons for alternative marine fuels, reflecting the calorific value comparison of methanol bunker fuel, LNG bunker fuel, marine fuel oil and marine gasoil, also from Sept. 27, 2021. The proposed comparisons would use the following conversion factors:

  • Methanol: 17.03 GJ/m3 and 0.792 mt/m3;
  • LNG: 23.40 GJ/m3 and 0.45 mt/m3;
  • Marine fuel oil: 40.63 GJ/m3 and 0.991 mt/m3;
  • Marine gasoil: 42 GJ/m3 and 0.94 mt/m3.

The proposed European methanol bunker fuel assessments would be published in Platts Petrochemical Alert with the cost comparisons featuring in Platts bunker fuel publications.

Platts invites feedback on this proposal by September 10, 2021. Specifically, Platts seeks comments on its proposed conversion factors and on the calculation method for logistics costs from the terminal to the barge or truck, including charges for delivery direct to the receiving vessel.

Beyond the immediate scope of this proposal, Platts is considering introducing methanol bunker fuel assessments in Asia and the Americas and invites feedback on specifications and hubs in those regions.

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