Following a review and formal proposal, Platts will update the specifications reflected in its benchmark US Gulf Coast 3%S physical residual fuel oil assessment to reflect RMG 380 3.5%S quality fuel oil, as per ISO 8217 specifications, with effect from January 3, 2017.
At the same time, Platts will rename the assessment as "USGC HSFO" and standardize its name across all publications. The name change will also take effect January 3, 2017. These changes follow a review of the existing specifications announced May 27, 2015, and a formal proposal announced July 14, 2015.
This assessment will continue to be published under the product code PUAFZ00.
SPECIFICATION UPDATE: Once implemented, the USGC HSFO assessment will reflect residual fuel oil intended for end-use by the bunker sector to meet maritime fuel demands. The specifications include the following parameters:
Sulfur max 3.5% Gravity Min 11.2 API Viscosity max 380 CST at 50 C Vanadium max 300 ppm Al+Si max 80 ppm Flash point min 60 C Pour point max 30 C Water max 0.5% Ash max 0.1%
NAME UPDATE: Platts will rename this assessment "USGC HSFO" and standardize the name of the assessment across all publications. This assessment is currently published in the Platts price database under the data code PUAFZ00, in Platts US Marketscan as "No. 6 3%" in its "Gulf Coast" table, in Oilgram Price Report as "Gulf Coast No. 6 3.0%S (Waterborne) Fuel Oil," in Latin American Wire as "Fuel Oil 3%S," and in North American Crude and Products Scan as "Resid 3%."
TIMING UPDATE: The January 2017 implementation date is the result of extensive feedback, and marks a delay of three months from the original proposal date of October 2016.
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