The new pricing move by S&P Global Platts will come ahead of IMO’s Marpol Annex VI regulation on enforcing a global 0.5% fuel sulphur limit starting 1 January 2020.
S&P Global Platts confirmed that it will continue to publish existing high-sulphur marine fuel assessments after the implementation of the 2020 IMO regulation.
“As the marine fuel industry embarks on a fundamental shift, it is our role to provide the market with relevant price assessments underpinned by robust methodology that aid decision making through this period of change,” said Jonty Rushforth, global editorial director, oil and shipping price group, S&P Global Platts.
“Following an extended period of discussion with market participants, we are proposing to launch these new assessments a full year ahead of the IMO formal implementation date to help the market adapt to the lower sulfur marine fuels standards,” Rushforth said.
He added that “there was clear feedback from market participants that we should continue publishing the existing high sulfur assessments as they will remain relevant even after the IMO’s implementation date of 1 January 2020.”
S&P Global Platts will begin publishing price assessments for 0.5% sulphur 380 cst bunker fuel on delivered and ex-wharf bases at several ports across the world.
In addition, the company will also begin publishing assessments for physical fuel oil with a maximum sulphur limit of 0.5% at the key hub locations of Houston, Rotterdam, Fujairah and Singapore, as well as related derivatives.
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