S&P Global Platts proposes to discontinue Santos 3.5% sulfur IFO 380 CST and IFO 180 CST bunker fuel assessments, and launch Average Price Indicators for these grades in their place, effective February 3, 2020.
The discontinuation follows the announcement from Petrobras that it will no longer sell 3.5% sulfur bunker fuel at its Brazilian ports. Until the date of discontinuation, Platts would assess this price based on spreads and directional movement of historically correlated markets.
Alongside the discontinuation, Platts would continue to publish values for these grades in this location as Average Price Indicators.
Platts publishes Average Price Indications for a variety of ports and grades where there is less liquidity and where no assessment is published. For API ports where there are no fresh price points entered on a given day, the API may be designated as a dependent price, and would be generated based on the last known differential between the API and a correlated port or more liquid fuel oil benchmark.
The affected assessments are as follows: ASSESSMENT SYMBOL Bunker FO 380 CST 3.5% Dlvd Santos AAXWJ00 Bunker FO 180 CST 3.5% Dlvd Santos AAXWP00
Platts would continue to publish marine gasoil assessments in Santos.
Platts is proposing to launch a Marine Fuel 0.5% sulfur assessment in Santos.
These prices appear on Platts Global Alert pages 870, 871 and Platts Shipping Alert pages 2240 and 2241. They appear in Bunkerwire, Bunkerwire Monthly and Latin American Wire, as well as in the Platts price database. The Average Price Indicators would appear in Bunkerworld and in the Platts price database.
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