S&P Global Platts to Launch Marine Fuel 0.5% Bunker Price Assessments Beginning July
LONDON and NEW YORK and SINGAPORE, May 23, 2019 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, announced that it will begin publishing daily price assessments for IMO-compliant Marine Fuel 0.5% bunkers on delivered and ex-wharf basis at key ports globally from July 1, 2019.
Platts launched Marine Fuel 0.5% cargo and barge assessments globally on January 2, 2019.
The new Marine Fuel 0.5% bunker assessments will conform to S&P Global Platts' methodology for high- sulfur bunker fuel, as set out in a proposal announced on March 26, 2018. S&P Global Platts will continue publishing high-sulfur bunker fuel assessments at locations where they currently exist.
The launch of these assessments comes six months ahead of the planned introduction of new sulfur limits in marine fuels by the International Maritime Organization from January 1, 2020.
For full details of global port locations and cargo specifications, access the subscriber note here.
Vera Blei, global director of oil market reporting, S&P Global Platts, said: "Market participants need the additional transparency offered through our price assessments to help them prepare for IMO 2020, which is likely to be the most disruptive change to have ever impacted the global refining and shipping markets. We are pleased to extend the range of our IMO 2020 price assessments into bunkers, having seen bids and offers for our marine fuel 0.5% cargo and barge assessments since the beginning of the year, which reflects an eagerness to adapt to the IMO 2020 rules well ahead of the implementation date."
Media Contacts:
Americas: Kathleen Tanzy, + 1 917 331 4607, [email protected]
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better-informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
SOURCE S&P Global Platts
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article