S&P Global Platts will amend the ex-wharf volumes assessed for Panama bunkers for Marine Fuel 0.5%S and IFO 380, and establish a minimum and maximum volume for MGO, effective Nov. 1, 2021.
Platts will change the ex-wharf volume range for all Panamanian assessments of Marine Fuel 0.5%S and IFO 380 to 500-1,000 mt. The current range is 500-1,500 mt for Balboa, Cristobal and the Panama Canal, which reflects the lower of the two ports on occasions when the two diverge.
The decision follows extensive feedback from the market and a review of Platts' published heards. Platts understands that bunkers prices can vary on an ex-wharf basis by volume, and the narrower volume ranges were chosen to reflect a significant proportion trading activity while providing more precise assessments.
Platts will also establish a minimum and maximum range for MGO in Panama of 75-225 mt. Currently Platts reflects a typical size of 150 mt for Balboa, Cristobal and the Panama Canal.
Platts originally proposed a minimum and maximum range for MGO of 100-150 mt, but market feedback and a review of Platts' published heards shows that a wider range will capture more market activity and is more reflective of trading volumes.
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