Aug. 1, 2014
/PRNewswire/ -- Platts, a leading global provider of energy, petrochemicals and commodities information and a top publisher of benchmark price references, today launched two daily price assessments aimed at bringing greater clarity to the fuel oil barge and bunker markets. The new assessments reflect values in
, one of the world's largest oil, petrochemicals and biofuels centers.
"The market is evolving, with newer, younger ships increasingly capable of burning lower-costing, more viscous and denser fuels," said
, Platts senior managing editor of
oil. "As a result, the market for such fuels is expanding and with it the need for greater price transparency, which we can provide as independent source of price discovery."
Named for their port location, delivery basis and viscosity levels, as measured by kinematic viscosity in centistokes (CST), the new assessments are:
- Platts 500 CST FOB Rotterdam barge, which reflects 3.5% sulfur fuel oil on a free-on-board (FOB) barge basis Rotterdam, barge size 2,000 metric tons
- Platts 500 CST delivered Rotterdam bunker, which reflects 3.5% sulfur bunker fuel on a delivered basis to a ship in Rotterdam, barge size 300 to 1,000 metric tons
high-sulfur fuel oil bunker market sees more than one million metric tons delivered on-board ships per month, with about 50% of that volume being
markets are poised for steady growth as the scrappage of older vessels continues in line with delivery of newer ships, more capable of burning the denser fuel.
Rotterdam barge assessment is an end-of-trading-day value for fuel oil loading three to 15 days forward on Monday-Tuesday and five to 15 days forward on Wednesday-Friday. The Platts
Rotterdam bunker assessment, also an end-of-day value, will reflect fuel oil delivered one to eight days forward.
Rotterdam barge assessment will be published in Platts'
Asia Pacific/Arab Gulf Marketscan
Oilgram Price Report
, among others. The Platts
bunker assessment will be published in
and its monthly supplement.
The new assessments are underpinned by an all-day market monitoring process and the structured, long-established Platts Market-On-Close methodology, the details of which can be found on
assessments announced by subscriber note on
and launched today are an expansion of Platts' existing and long established suite of
fuel oil barge and bunker assessments. For more information on
, visit the Platts website.
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