S&P Global Platts proposes to begin reflecting loadings from the Texas International Terminals in its USGC 0.5% sulfur marine fuel oil assessments, effective January 13, 2020.
This would be added to the list of currently acceptable terminals for FOB Galveston Bay loadings in the US Gulf Coast 0.5% sulfur marine fuel oil market on close assessment.
The terminal, located along the Galveston Ship Channel, includes 325,000 barrels of storage for crude oil and refined products, including 0.5%S marine fuel. The terminal has a deep-draft vessel berth with 40 feet max draft, accommodating up to a Panamax along with three barge berths with 15 feet max draft. The company has stated that permits are approved for an additional two ship berths for post-Panamax classes with 45 feet drafts and that 1.66 million barrels of storage capacity is permitted for construction. The terminal also features blending operations.
Platts may review the inclusion of additional terminals for its 0.5%S marine fuel oil assessments and may also review the list of existing acceptable terminals in relation to loading 0.5%S.
Platts' US Gulf Coast 0.5%S marine fuel oil assessments currently reflect fuel oil loading basis FOB Houston from the following terminals: Magellan Galena Park Terminal, Kinder Morgan Galena Park, Bayport Container Terminal (LBC), Houston Fuel Oil Terminal (HOFTI) and Battleground Oil Specialty Terminal (BOSTCO).
Bids, offers and trades published on any basis other than FOB Houston, including FOB New Orleans and FOB Galveston Bay, may be normalized for reflection in the USGC fuel oil assessments.
Current approved terminals for FOB Galveston Bay are NuStar Texas City and World Point Terminals Pelican Island.
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