S&P Global Platts will discontinue physical high-sulfur fuel oil assessments in Japan and South Korea, and certain HSFO derivative assessments in the Middle East from June 1, 2020.
Platts first proposed the discontinuation of these assessments in a subscriber note published November 13, 2019.
The following assessments will be discontinued effective June 1:
Assessment CODE Mavg
FO 180 CST 3.5% S C+F Japan Cargo PUACJ00 PUACJ03
FO 180 CST 3.5% S FOB Korea Cargo PUBDP00 PUBDQ03
FO 180 CST 3.5% S FOB Korea Cargo vs FO 180 MOPS strip PUBDR00 PUBDS03
FO 380 CST 3.5% S FOB Korea Cargo PUBDY00 PUBDZ03
FO 380 CST 3.5% S FOB Korea Cargo vs FO 380 MOPS strip PUBEA00 PUBEB03
FO 180 CST FOB Arab Gulf Swaps BalMo AAYBM00
FO 180 CST FOB Arab Gulf Swaps M1 AAYBM01
FO 180 CST FOB Arab Gulf Swaps M2 AAYBM02
The decision follows low trading activity for HSFO in these markets that is set to shrink further as sulfur specifications in marine fuel change from 2020 under the new International Maritime Organization regulations.
Over 2019, Platts has launched a slew of physical cargo, derivative and bunker assessments for Marine Fuel 0.5% at multiple locations, including in Japan, South Korea and the Middle East, reflecting the price of IMO 2020-compliant shipping fuels.
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