Global Bunker Fuels
Global Bunker Fuels
Global Bunker Fuels
www.spglobal.com/commodityinsights
Specifications Guide Global Bunker Fuels: October 2023
Definitions of the trading locations for which Platts publishes daily indexes or assessments
The following specifications guide contains the primary specifications and methodologies for S&P Global Platts bunker fuel assessments and indexes around the world. All the assessments listed here
employ Platts Assessments Methodology, as published at https://www.spglobal.com/platts/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-
methodology-guide.pdf.
These guides are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification questions.
This guide is current at the time of publication. Platts may issue further updates and enhancements to this guide and will announce these to subscribers through its usual publications of record. Such
updates will be included in the next version of this guide. Platts editorial staff and managers are available to provide guidance when assessment issues require clarification.
The IMO-compliant Marine Fuel 0.5% bunker assessments reflect specifications for RMG fuels as defined by the International Organization for Standardization in document ISO 8217:2010 Petroleum
products — Fuels (class F) — Specifications of marine fuels, but with a maximum sulfur limit of 0.5% and a minimum viscosity of 30 CST at 50 degrees Celsius.
High sulfur bunker fuel assessments globally reflect maximum sulfur content of 3.5%. The worldwide market generally follows similar specifications for these grades in all locations. All Platts bunker
assessments published globally conform to specifications as defined by the International Organization for Standardization in document ISO 8217:2010 Petroleum products - Fuels (class F) - Specifications
of marine fuels. Bunker fuel reflected in Platts assessments shall not contain Used Lubricating Oil (ULO). Fuel is deemed to contain used lubricants when either a) Calcium exceeds a 30 mg/kg maximum
and Zinc exceeds a 15 mg/kg maximum; or b) Calcium exceeds a 30 mg/kg maximum and Phosphorus exceeds a 15 mg/kg maximum. Product reflected in Platts fuel oil assessments shall not contain
petrochemical wastes, residues from acid-catalyzed refining process, spent chemicals, waste lubricants, tar bottoms or hazardous waste. Furthermore, product containing any material proven to cause
ship engine damage at certain reported levels is considered unmerchantable. For instance, Platts understands that fatty acid methyl esters, or FAME, is commonly found in fuel oil in trace amounts, and
are not deemed harmful to ship engines at those levels. Platts is also aware that heavy fatty acids are not deemed harmful to ship engines when registering at trace levels.
The ISO 8217:2010 standard includes the Micro Carbon Residue (MCR) standard for measuring material’s coke-forming tendencies. Platts therefore no longer specifies the Conradson Carbon Residue
(CCR) measurement used in some of Platt’s fuel oil assessments in order to remain consistent with the ISO 8217:2010 standard. The two measuring bases express the results of two different, but
considered broadly equivalent, tests measuring coke-forming tendencies in tested substances. In both the cases of MCR and CCR, the results of the two relevant tests are expressed in the same manner
of mass of carbon in the material being tested (% m/m).
Unless otherwise specified, Platts bunker fuel assessments for all ports reflect the following standards:
Marine Fuel 0.5% bunker: Specifications generally conform with ISO 8217:2010 standards for RMG fuels but the additional requirement of a minimum viscosity of 30 CST at 50 degrees Celsius. These
include: Calculated Carbon Aromaticity Index: 870 maximum; Sulfur: maximum 0.5%; Flash point: minimum 60 degrees Celsius; Hydrogen sulfide: 2 mg/kg maximum; Acidity: 2.5 mg KOH/g maximum; Pour
point (upper) winter quality: 30 degrees Celsius maximum, summer quality: same; Water: 0.5% maximum; Ash: 0.10% maximum; Vanadium: maximum 350 mg/kg; Sodium: maximum 100 mg/kg; Aluminum
plus Silicon: 60 mg/kg maximum.
While the ISO standards do not specify maximum limits for chemical content in marine fuels, based on extensive market engagement Platts understands that unusually high levels of chemicals
including styrene, indene, and phenol, either individually or in total, may render the fuel non-merchantable in the bunker market. If chemical compounds, including styrene, indene, and phenol are
present in product sold in the Marine Fuel 0.5%S MOC process, the levels of each chemical compound and their combined levels must be reasonable and reflective of standard market practice. Buyers
participating in the Marine Fuel 0.5% Platts Market on Close assessment process have the right to request GCMS testing from the seller at their own expense. The seller should not unreasonably reject
this request.
IFO 500 CST: Platts IFO 500 CST assessments reflect specifications for RMK 500 CST, ISO 8217: 2010. These include: Approximate Kinematic Viscosity: maximum 500 CST at 50 degrees Celsius; Sulfur:
maximum 3.5%; Flash point: minimum 60 degrees Celsius; Pour point (upper) winter quality: maximum 30 degrees Celsius, summer quality: same; Water: maximum 0.5%; Ash: maximum 0.15%; Vanadium:
maximum 450 mg/kg; Aluminum plus silicon: maximum 60 mg/kg.
IFO 380 CST: Specifications generally conform with that of RMG 380 CST, ISO 8217:2010. These include: Approximate Kinematic Viscosity: maximum 380 CST at 50 degrees Celsius; Calculated Carbon
Aromaticity Index: 870 maximum; Sulfur: maximum 3.5%; Flash point: minimum 60 degrees Celsius; Hydrogen sulfide: 2 mg/kg maximum; Acidity: 2.5 mg KOH/g maximum; Pour point (upper) winter quality:
30 degrees Celsius maximum, summer quality: same; Water: 0.5% maximum; Ash: 0.10% maximum; Vanadium: maximum 350 mg/kg; Sodium: maximum 100 mg/kg; Aluminum plus Silicon: 60 mg/kg
maximum.
Marine diesel oil 0.5%: Specifications generally conform with that of DMB, ISO 8217:2010, with a maximum sulfur content of 0.5%. These include: Kinematic viscosity at 40 degrees Celsius: maximum 11
CST and minimum 2 CST; Cetane index: minimum 35; Sulfur: maximum 0.5%; Flash point: minimum 60 degrees Celsius; Hydrogen sulfide: 2 mg/kg maximum; Acidity: 0.5 mg KOH/g maximum; Oxidation
stability: 25 g/m3; Pour point (upper) winter quality: 0 degrees Celsius maximum, summer quality: 6 degrees Celsius maximum; Water: 0.3% maximum; Ash: 0.01% maximum; Lubricity at 60 degrees
Celsius: 520 um.
Marine gasoil 0.5%: Specifications generally conform with that of DMA, ISO 8217:2010, with a maximum sulfur content of 0.5%. These include: Kinematic Viscosity at 40 degrees Celsius: maximum 6
CST and minimum 2 CST; Cetane index: minimum 40; Sulfur: maximum 0.5%; Flash point: minimum 60 degrees Celsius; Hydrogen sulfide: 2 mg/kg maximum; Acidity: 0.5 mg KOH/g maximum; Oxidation
stability: 25 g/m3; Pour point (upper) winter quality: - 6 degrees Celsius maximum, summer quality 0 degrees Celsius maximum; Ash: 0.01% maximum; Lubricity at 60 degrees Celsius: 520 um.
Marine gasoil 0.1%: Specifications generally conform with that of DMA, ISO 8217:2010, with a 0.1% sulfur maximum limit.
Marine diesel oil 0.1%: Platts assess prices of low sulfur marine diesel oil that generally conform with that of DMB ISO 8217:2010 with a maximum sulfur content of 0.1%.
Ultra low sulfur bunker fuel: Platts assess 0.1% sulfur bunker fuel. Specifications in Europe conform with an RMD 80 specification.
50 E
Delivered MGO and MDO assessments reflect volumes of 50 mt
and above. Platts also assesses Marine Fuel 0.5% bunker fuel
on a delivered basis in Singapore, Fujairah, Japan (Tokyo Bay),
South Korea (Western and Southern ports), Hong Kong, Shanghai,
Zhoushan, Sydney, Melbourne, Mumbai, Colombo, Kuwait and
Khor Fakkan. Bids and offers are published in a 100 mt range for
parcels under 1,000 mt, and in a 200 mt range for parcels above
1,000 mt. Buyers and sellers may submit bids and offers for the
Strait of
following volume range: 500-600 mt, 600-700 mt, 700-800 mt, Hormuz
800-900 mt, 900-1,000 mt, 1,000-1,200 mt, 1,100-1,300 mt, 1,200-
BAHRAIN Persian Gulf
1,400 mt and 1,300-1,500 mt. Buyers in the Platts Market on Close
OMAN
assessment process for delivered bunkers must declare the exact MFDKF00
volume to the seller within one working day after the trade has AARKI00 Khor Fakkan
been concluded. Buyers/sellers must specify a loading laycan of SAUDI ARABIA
MGDKF00 Gulf of Oman
three days at the time of submitting bids or offers for publication QATAR PUAXP00 25 N
in the assessment process. Buyers must also provide to the seller Fujairah MFFJD00
a written notice of arrival of the nominated vessel at the place of AARKH00
delivery at least 48 hours prior to the day of delivery. Sellers are AAXYP00
Prices assessed for these markets reflect activity reported to Contract Basis
UNITED ARAB EMIRATES
Platts throughout the day, and values for all reported trades are Grade Delivered Ex-Wharf
always normalized to reflect the prevailing value of the market IFO 380
OMAN
at 5:30 pm in Singapore. Prices are assessed in $/mt. They do Marine fuel 0.5%
not represent an average of the day’s trades. Confirmed trades, Marine gasoil (MGO)
0 50 mi
bids and offers reported throughout the day are included Low sulfur marine gasoil
0 50 km
in the assessment process, with values normalized towards
Source: S&P Global Commodity Insights
representative values for the close of the market as needed.
150 E
180
RUSSIA
derivative Singapore fuel oil markets are also taken into account
E
during assessment.
KAZAKHSTAN
MONGOLIA
In Japan, bunker fuel assessments reflect activity in the Tokyo/ AARJZ00
WKMFA00
Yokohama Bay area. The West Japan assessment reflects UZB. ASI A AARKA00 (MDO)
deliveries in Setouchi (includes Mizushima and Fukuyama ports), TURKM. Ulsan AAXYU00 (LSMDO)
AARKD00 and JAPAN
Kyushu (Oita port) and Hanshin areas (Kobe and Osaka ports). MFSHD00 Busan
Incheon Tokyo Bay
CHINA AARKE00
Activity in other ports is normalized to Setouchi after taking into IRAN AFG. PUAEV00
AAXYR00
Shanghai
account barging costs. S. KOREA Setouchi MFJPD00 30 N
PAK. MFZSD00
NEPAL POACI00 (MDO)
MGZSD00 Zhoushan PUAFR00 AAXYT00
In South Korea, assessments reflect delivered bunker market PUAGQ00 (LSMDO)
MFZHN00
activity at Busan and Ulsan for the southern ports, and at INDIA
PUAER00 Taiwan MFSKD00
Incheon, Pyeongtaek, Daesan and Dangjin for the western ports. MYAN.
AARKJ00
MFHKD00 Hong
MFDMM00 Mumbai CB3AN00
AAXYQ00 Kong AAVBN00
AASSI00 CB1AU00
The delivered MGO 0.1% assessments in Singapore, Fujairah, THAI.
AAXYS00
MGDMM00 CB1AR00 PACIFIC
Hong Kong, Shanghai, Zhoushan, South Korea, Sydney, CAMB. VIET. OCEAN
CB1AT00
Melbourne, Mumbai, Colombo, Kuwait and Khor Fakkan and
SRI LANKA CB1AS00
MDO 0.1% assessments in Tokyo Bay and West Japan reflect fuel CBGAM00
Colombo
with maximum sulfur content of 0.10% m/m. MALAYSIA CBGAP00
MFDCL00 Singapore
CBGAN00
AARKK00 INDO. CBGAQ00
0
Ex-wharf bunker fuel MGDCL00
INDO.
AAVUO00
INDO.
Platts assesses Marine Fuel 0.5% bunker fuel ex-wharf PUAFT00 Jav
a S ea
INDIAN P.N.G.
prices for Singapore, Zhoushan and Fujairah. In Singapore, MFSPD00
OCEAN
AALMZ00
Platts ex-wharf assessments reflect 1,000-6,000 mt parcels ea
AAXYO00 or S
for loading 3-15 days forward from the date of publication. Tim
AAVUP00
Buyers/sellers must specify a loading laycan of three days AAFER00
at the time of submitting bids or offers for publication in the MFSPE00
assessment process. Zhoushan ex-wharf assessment reflects
1,000-6,000 mt parcels for loading 3-15 days forward from Contract Basis
the date of publication. Buyers/sellers must specify a loading Grade Delivered Ex-Wharf AUSTRAL IA
laycan of three days at the time of submitting bids or offers IFO 500
30 S
for publication in the assessment process. Fujairah ex-wharf IFO 380 Sydney
assessments reflect 2,000-7,000 mt parcels loading 5-15 Marine fuel 0.5%
Marine gasoil (MGO) Melbourne
days forward. Singapore ex-wharf 380 CST and Marine Fuel NEW
MFDMB00 MFDSY00 ZEALAND
0.5% sulfur bunker fuel assessments also reflect offers from Low sulfur marine gasoil
AARKG00 AARKF00
Platts-approved floating storage units in its Market on Close MGDSY00
MGDMB00
assessment process.
Parcel to be supplied on an ex-wharf basis one safe terminal, Tolerance: Industry standards allow for an operational tolerance to the base rate or 2% per month whichever is higher, until and
offshore delivery but within the port limits of Singapore, level on quantity of plus/minus 5%. including the date settlement is made. Payment of the interest
Zhoushan or Fujairah to buyer’s nominated vessel/barge. Inter/ shall be made on the same day of the overdue payment made
in Tank Transfer (ITT) is also acceptable. The buyer should Title and Risk: Title and risk of product shall pass to buyer when by the buyer.
nominate the barge/vessel between two and five working days oil passes buyer’s vessel/barge permanent flange connection at
in advance of the load date as per current industry practices loading terminal or mother vessel in the event of barge-to-barge Typical industry contracts add that the following paragraph shall
at the various load terminals. The seller should notify the buyer loading. not be construed by the buyer as an indication of the seller’s
of barge acceptance promptly and within a reasonable time. willingness to provide extended credit.
The acceptance is subject to terminal availability. Seller should Payment: Payment should be made in US dollars in accordance
supply material that is merchantable. to previously established payment practices. These payment Credit terms: Buyer shall open an irrevocable standby letter of
practices include full invoice value by telegraphic transfer, credit or banker’s guarantee from a first class international bank
In the event of the buyer being unable to load the purchased cheque, and by collection within 30 days from the date of located in Singapore in form and substance acceptable to seller
parcel within the contractual loading date range, a surcharge loading (i.e. Date of certificate of quantity from loading terminal). and valid for a minimum duration of 60 days from the date of
will be applied. The surcharge is in the amount of US$0.60/mt Date of loading to count as day one. Payment shall be made loading. Buyer shall open letter of credit or banker’s guarantee
per seven calendar days. The surcharge shall be imposed on any without withholding, deduction, discount, counter claim or no later than 10 working days from the loading date. The letter of
unlifted quantity after the last day of the contractual loading offset of any kind against presentation of seller’s invoice. All credit or banker’s guarantee shall be open for an amount of at
date range (last day of the contractual loading date range shall bank charges at the buyer’s bank will be borne by the buyer’s least 105% of the estimated purchase value.
count as day zero). account. All bank charges at the seller’s bank will be borne
by the seller’s account. If payment falls due on a Sunday or Law and arbitration: Any dispute arising in connection with
Mooring/Wharfage/Piloting: Any cost associated with the barge Monday Singapore banking holiday, payment shall be made on this agreement, including any questions regarding its existing,
transportation shall be borne by the buyer. the immediate following banking day. Payment falling due on a validity or termination shall be referred to and resolved by
Saturday or non-Monday banking holiday in Singapore shall be arbitration in Singapore in accordance with the arbitration
Quantity and quality should be based on certificate of quantity made on the previous banking day. rules of Singapore International Arbitration Centre (‘SIAC
and quality issued by seller’s loading terminal. In the event Rules’) for the time being in force which rules are deemed to
of a dispute, seller and buyer to jointly appoint a mutually In the event that payment was not settled against invoice on be incorporated by agreement of the parties and there are
acceptable independent inspector to determine quality and the due date, then without prejudice to the application of any no oral promises, representations or warranties affecting it.
quantity based on loading samples and figures. If an issue provisions hereof and/or to any other remedy available to buyer The language of the arbitration shall be English. The validity,
arises over the surveyor, either party has the right to appoint an herein or otherwise, buyer shall pay interest on the overdue construction and performance of the agreement shall be
additional surveyor. Cost of appointing mutual inspector shall be amount at the prime lending rate assessed. Typically a US governed by the law of Singapore.
equally shared between buyer and seller. dollar interest rate reflecting the average of four major banks in
Singapore or a major bank is used. In addition, seller adds 2%
Demurrage: Not applicable, but seller is to supply cargo within
reasonable time.
10 E
0
Europe and Africa Contract Basis
Grade Delivered
Timing: Platts bunker assessments in Europe reflect the market
IFO 500
value at 16:30 London time, for bunker fuel supplied one to FINLAND
IFO 380
eight days forward from the date of publication. They do not Marine fuel 0.5%
represent an average of the day’s trades. Confirmed trades, Marine gasoil (MGO)
St. Petersburg
bids and offers reported throughout the day will be included Ultra low sulfur fuel
NORWAY
in the assessment process, with values normalized towards
AAHSU00
representative values for the close of the market as needed. 60 N
MFDPT00
In addition to such information, activity on the physical and EUROPE AARTJ00
derivative European fuel oil markets may also be taken into ALMPA00
ESTONIA
account during assessment. SWEDEN
Baltic Sea
RUSSIA
Typical Parcel Size: Typical sizes vary from port to port, but are
generally between 300 to 1,000 mt. Sizes defined for specific North Sea
Gothenburg
LATVIA
assessments are typical, not minimums and maximums.
However, trades reported for volumes outside typical ranges AAVVX00
may be considered atypical when assessing standard tradable MFDGT00
volumes. AAVWC00
DENMARK LITHUANIA
GERMANY
UKRAINE
AUSTRIA HUNGARY RUSSIA
FRANCE
ROMANIA Novorosiisk IFO 180 CST: Platts assesses Durban IFO 180 on a delivered
Genoa
French Med basis. Specifications generally conform with that of RME 180
ITALY CST, ISO 8217:2010. These include: Approximate Kinematic
AARSR00 AASHF00
BULGARIA
Istanbul MFDNV00 Viscosity: maximum 180 CST at 50 degrees Celsius; Calculated
PUAEO00 PUAFD00
PORTUGAL MFGEN00
PUAET00 AASHG00 Carbon Aromaticity Index: 860 maximum; Sulfur: maximum 3.5%;
SPAIN POABX00
Lisbon PBABK00 GREECE MFDIS00 Flash point: minimum 60 degrees Celsius; Hydrogen sulfide: 2
Piraeus POACF00 TURKEY
MFLIS00 Augusta mg/kg maximum; Acidity: 2.5 mg KOH/g maximum; Pour point
PUAED00 (upper) winter quality: 30 degrees Celsius maximum, summer
MALTA PUAFL00
Malta
MFAUG00 quality: same; Water: 0.5% maximum; Ash: 0.070% maximum;
Ceuta Algeciras Gibraltar PBABJ00 AARFT00 SYRIA
Vanadium: maximum 150 mg/kg; Sodium: maximum 50 mg/kg;
PUAEG00 PUAFA00 AAKAB00 MFPRD00
TUN. IRAQ Aluminum plus Silicon: 50 mg/kg maximum.
AARSK00 MFAGD00 MFGBD00 POADG00
PUBFH00
AARSH00 AARSU00
MFMLD00
MOROCCO
Las Palmas/Tenerife PBADH00
PUAFB00 ALGERIA
Canary Islands
MFDLP00 LIBYA
AARKM00 EGYPT
AARTB00 SAUDI ARABIA
PUAGW00
MAURITANIA
A F R I C A
MALI
NIGER
Dakar SUDAN
CHAD YEMEN
POABP00
SENEGAL
BURKINA
FASO TOGO
GUINEA
ATLANTIC
OCEAN NIGERIA
COTE GHANA ETHIOPIA
D'IVOIRE Lomé S.REP.
SUDAN
CENTRAL AFRICAN
Offshore Nigeria BOTSWANA
AAYJJ00 CAMEROON NAMIBIA
Contract Basis PUAGX00 SOMALIA
Grade Delivered Ex-Wharf MFLOM00 PUAGU00 MFDBD00
AAYJL00 AARKL00 SOUTH
EQUATOR IFO 380 PUAGY00
CONGO AFRICA
IFO 180 GABON
MFALG00
Marine fuel 0.5% DEM. REP. CONGO
AMGAA00 Durban
Marine gasoil (MGO)
Algoa Bay
0 300 mi TANZANIA
0 300 km
0
ANGOLA
ZAMBIA
Source: S&P Global Commodity Insights
Americas
Assessment Code Mavg Contract basis Location Delivery period Min size Max size Typical size Currency UOM Conv
Marine Fuel 0.5% Bunker Delivered Houston MFHOD00 MFHOD03 Delivered Houston 3-7 Days Forward 500 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Houston MFHOE00 MFHOE03 Ex-wharf Houston 3-7 Days Forward 500 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered New York MFNYD00 MFNYD03 Delivered New York 3-7 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf New York MFNYE00 MFNYE03 Ex-wharf New York 3-7 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Los Angeles MFLAD00 MFLAD03 Delivered Los Angeles 3-10 Days Forward 250 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Balboa MFBAE00 MFBAE03 Ex-wharf Balboa, Panama 3-10 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Cristobal ACBAL00 ACBAL03 Ex-wharf Cristobal, Panama 3-10 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Panama Canal APNMA00 APNMA03 Ex-wharf Panama Canal 3-10 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered New Orleans MFNOD00 MFNOD03 Delivered New Orleans 3-7 Days Forward 500 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf New Orleans MFNOE00 MFNOE03 Ex-wharf New Orleans 3-7 Days Forward 500 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Philadelphia MFPAD00 MFPAD03 Delivered Philadelphia 3-7 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Philadelphia MFPAE00 MFPAE03 Ex-wharf Philadelphia 3-7 Days Forward 500 1000 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Seattle MFSED00 MFSED03 Delivered Seattle 3-10 Days Forward 250 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Seattle MFSEE00 MFSEE03 Ex-wharf Seattle 3-10 Days Forward 500 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Vancouver MFVAD00 MFVAD03 Delivered Vancouver 3-10 Days Forward 250 750 - US$ MT 6.35
Marine Fuel 0.5% Bunker Ex-Wharf Vancouver MFVAE00 MFVAE03 Ex-wharf Vancouver 3-10 Days Forward 500 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Delivered Montreal AMFMO00 AMFMO03 Delivered Montreal 3-10 Days Forward 100 600 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Ex-Wharf Montreal AMFMN00 AMFMN03 Ex-wharf Montreal 3-10 Days Forward 100 600 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Delivered San Francisco AMFSF00 AMFSF03 Delivered San Francisco 3-10 Days Forward 250 750 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Ex-Wharf San Francisco AMFSN00 AMFSN03 Ex-wharf San Francisco 3-10 Days Forward 500 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Buenos Aires MFBAD00 MFBAD03 Delivered Buenos Aires, Argentina 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Cartagena MFCRD00 MFCRD03 Delivered Cartagena, Colombia 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Santos MFSAD00 MFSAD03 Delivered Santos, Brazil 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunker Delivered Valparaiso AMFVA00 AMFVA03 Delivered Valparaiso, Chile 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Delivered El Callao AMFCA00 AMFCA03 Delivered El Callao, Peru 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Delivered Guayaquil AMFGY00 AMFGY03 Delivered Guayaquil, Ecuador 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Delivered La Libertad AMFLB00 AMFLB03 Delivered La Libertad, Ecuador 3-7 Days Forward 250 1500 - US$ MT 6.35
Marine Fuel 0.5% Bunkers Delivered Montevideo AMFMT00 AMFMT03 Delivered Montevideo, Uruguay 3-7 Days Forward 250 1500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Balboa PUBAD00 PUBAD03 Ex-wharf Balboa, Panama 3-10 Days Forward 500 1,000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Cartagena AAJOA00 AAJOB00 Delivered Cartagena, Colombia 3-7 Days Forward 250 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Charleston AAMNV00 AAMNW00 Delivered Charleston, SC 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Charleston AAMOE00 AAMOF00 Ex-wharf Charleston, SC 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Cristobal PUAEF00 PUAEF03 Ex-wharf Cristobal, Panama 3-10 Days Forward 500 1,000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Guayaquil AAJOC00 AAJOD00 Delivered Guayaquil, Ecuador 3-7 Days Forward 250 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Houston AAGPD00 AAGPE00 Delivered Houston 3-7 Days Forward 500 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Houston PUAES00 AAGPF00 Ex-wharf Houston 3-7 Days Forward 500 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered La Libertad PUAYT00 PUAYT03 Delivered La Libertad, Ecuador 3-7 Days Forward 250 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Los Angeles AAGPM00 AAGPN00 Delivered Los Angeles 3-10 Days Forward 250 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Los Angeles PBAAP00 AAGPO00 Ex-wharf Los Angeles 3-10 Days Forward 500 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Montreal AARUP00 AARUP03 Delivered Montreal 3-7 Days Forward 100 600 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Montreal PUAFE00 AAGPX00 Ex-wharf Montreal 3-7 Days Forward 100 600 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered New Orleans AAGQE00 AAGQF00 Delivered New Orleans 3-7 Days Forward 500 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf New Orleans PUAFH00 AAGQG00 Ex-wharf New Orleans 3-7 Days Forward 500 750 - US$ MT 6.35
Americas
Assessment Code Mavg Contract basis Location Delivery period Min size Max size Typical size Currency UOM Conv
Bunker FO 380 CST 3.5% Delivered New York AAGQN00 AAGQO00 Delivered New York 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf New York PUAFI00 AAGQP00 Ex-wharf New York 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 500 CST 3.5% Delivered New York AACNY00 AACNY03 Delivered New York 3-7 Days Forward 500 1000 - US$ MT 6.23
Bunker FO 500 CST 3.5% Ex-wharf New York AABNY00 AABNY03 Ex-wharf New York 3-7 Days Forward 500 1000 - US$ MT 6.23
Bunker FO 380 CST 3.5% Delivered Norfolk AAGQW00 AAGQX00 Delivered Norfolk 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Norfolk PUAFG00 AAGQY00 Ex-wharf Norfolk 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Panama Canal AAXWG00 AAXWG03 Ex-wharf Panama Canal 3-10 Days Forward 500 1,000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Philadelphia AAGRF00 AAGRG00 Delivered Philadelphia 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Philadelphia PUAFJ00 AAGRH00 Ex-wharf Philadelphia 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered San Francisco AAGRX00 AAGRY00 Delivered San Francisco 3-10 Days Forward 250 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf San Francisco PBADF00 AAGRZ00 Ex-wharf San Francisco 3-10 Days Forward 500 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Savannah AAXJR00 AAXJR03 Ex-wharf Savannah 3-7 Days Forward 500 1000 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Seattle AAGSG00 AAGSH00 Delivered Seattle 3-10 Days Forward 250 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Seattle PBABB00 AAGSI00 Ex-wharf Seattle 3-10 Days Forward 500 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Valparaiso PUAYR00 PUBDK03 Delivered Valparaiso, Chile 3-7 Days Forward 250 1,500 - US$ MT 6.35
Bunker FO 380 CST 3.5% Delivered Vancouver AAJKU00 AAJKV00 Delivered Vancouver 3-10 Days Forward 250 750 - US$ MT 6.35
Bunker FO 380 CST 3.5% Ex-Wharf Vancouver AAIAT00 AAIAU00 Ex-wharf Vancouver 3-10 Days Forward 500 1,500 - US$ MT 6.35
Marine Gasoil Ex-Wharf Balboa PBACU00 PBACU03 Ex-wharf Balboa, Panama 3-10 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Delivered Buenos Aires PBABR00 PBABR03 Delivered Buenos Aires, Argentina 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Cartagena PBACW00 PBACW03 Delivered Cartagena, Colombia 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Charleston AAWWV00 AAWWV03 Delivered Charleston, SC 3-7 Days Forward 100 400 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Charleston AAWYP00 AAWYP03 Ex-wharf Charleston, SC 3-7 Days Forward 100 400 150 US$ MT 7.45
Marine Gasoil Ex-Wharf Cristobal POABJ00 POABJ03 Ex-wharf Cristobal, Panama 3-10 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Delivered El Callao PBABW00 PBABW03 Delivered El Callao, Peru 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Guayaquil AAJOG00 AAJOH00 Delivered Guayaquil, Ecuador 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Houston AAWWX00 AAWWX03 Delivered Houston 3-7 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Ex-Wharf Houston AAWYQ00 AAWYQ03 Ex-wharf Houston 3-7 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Delivered La Libertad PBABY00 PBABY03 Delivered La Libertad, Ecuador 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Los Angeles AAWWY00 AAWWY03 Delivered Los Angeles 3-10 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Los Angeles AAWYR00 AAWYR03 Ex-wharf Los Angeles 3-10 Days Forward - - 150 US$ MT 7.45
Marine Gasoil Delivered Montevideo PBADA00 PBADA03 Delivered Montevideo, Uruguay 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Montreal AAWWZ00 AAWWZ03 Delivered Montreal 3-7 Days Forward 100 600 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Montreal AAWYS00 AAWYS03 Ex-wharf Montreal 3-7 Days Forward 100 600 150 US$ MT 7.45
Marine Gasoil Delivered New Orleans AAWYA00 AAWYA03 Delivered New Orleans 3-7 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Ex-Wharf New Orleans AAWYT00 AAWYT03 Ex-wharf New Orleans 3-7 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Delivered New York AAWYB00 AAWYB03 Delivered New York 3-7 Days Forward 100 400 75 US$ MT 7.45
Marine Gasoil Ex-Wharf New York AAWYU00 AAWYU03 Ex-wharf New York 3-7 Days Forward 100 400 150 US$ MT 7.45
Marine Gasoil Delivered Norfolk AAWYC00 AAWYC03 Delivered Norfolk 3-7 Days Forward 100 400 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Norfolk AAWYV00 AAWYV03 Ex-wharf Norfolk 3-7 Days Forward 100 400 150 US$ MT 7.45
Marine Gasoil Ex-Wharf Panama Canal AAXWI00 AAXWI03 Ex-wharf Panama Canal 3-10 Days Forward 75 225 - US$ MT 7.45
Marine Gasoil Delivered Philadelphia AAWYD00 AAWYD03 Delivered Philadelphia 3-7 Days Forward 100 400 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Philadelphia AAWYW00 AAWYW03 Ex-wharf Philadelphia 3-7 Days Forward 100 400 150 US$ MT 7.45
Marine Gasoil Delivered San Francisco AAWYF00 AAWYF03 Delivered San Francisco 3-10 Days Forward - - 75 US$ MT 7.45
Americas
Assessment Code Mavg Contract basis Location Delivery period Min size Max size Typical size Currency UOM Conv
Marine Gasoil Ex-Wharf San Francisco AAWZE00 AAWZE03 Ex-wharf San Francisco 3-10 Days Forward - - 150 US$ MT 7.45
Marine Gasoil Delivered Santos AAXWO00 AAXWO03 Delivered Santos, Brazil 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Savannah AAWZF00 AAWZF03 Ex-wharf Savannah 3-7 Days Forward 100 400 150 US$ MT 7.45
Marine Gasoil Delivered Seattle AAWYL00 AAWYL03 Delivered Seattle 3-10 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Seattle AAWZG00 AAWZG03 Ex-wharf Seattle 3-10 Days Forward - - 150 US$ MT 7.45
Marine Gasoil Delivered Valparaiso PBABX00 PBABX03 Delivered Valparaiso, Chile 3-7 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Delivered Vancouver AAWYM00 AAWYM03 Delivered Vancouver 3-10 Days Forward - - 75 US$ MT 7.45
Marine Gasoil Ex-Wharf Vancouver AAWZH00 AAWZH03 Ex-wharf Vancouver 3-10 Days Forward - - 150 US$ MT 7.45
Bunker barging rate Charleston AARUD00 AARUD03 - Charleston, SC - - - - US$ MT -
Bunker barging rate Houston AARUF00 AARUF03 - Houston - - - - US$ MT -
Bunker barging rate Los Angeles AARUH00 AARUH03 - Los Angeles - - - - US$ MT -
Bunker trucking rate Montreal AARUC00 AARUC03 - Montreal - - - - US$ MT -
Bunker barging rate New Orleans AARUG00 AARUG03 - New Orleans - - - - US$ MT -
Bunker barging rate New York AARUA00 AARUA03 - New York - - - - US$ MT -
Bunker barging rate Norfolk AARUE00 AARUE03 - Norfolk - - - - US$ MT -
Bunker barging rate Philadelphia AARUB00 AARUB03 - Philadelphia - - - - US$ MT -
Bunker barging rate San Francisco AARUI00 AARUI03 - San Francisco - - - - US$ MT -
Bunker barging rate Seattle AARUJ00 AARUJ03 - Seattle - - - - US$ MT -
Bunker barging rate Vancouver AARUL00 AARUL03 - Vancouver - - - - US$ MT -
Posted Price
Petrobras Bunker VLSFO 0.5% Dlvd Paranagua* PUAVA00 - Paranagua, Brazil - US$ MT -
Petrobras Bunker VLSFO 0.5% Dlvd Rio de Janeiro* PUAVB00 - Rio de Janeiro, Brazil - 200 - - US$ MT -
Petrobras Bunker VLSFO 0.5% Dlvd Santos* PUAVD00 - Santos, Brazil - 200 - - US$ MT -
Marine Gasoil Delivered Paranagua* PBABS00 - Paranagua, Brazil - 200 - - US$ MT -
Marine Gasoil Delivered Rio de Janeiro* PBABU00 - Rio de Janeiro, Brazil - - - - US$ MT -
Marine Gasoil Delivered Santos* PBABT00 - Santos, Brazil - - - - US$ MT -
*These posted prices are provided by Petrobras and are not assessed by Platts
Montreal
Americas assessments Vancouver AARUP00
AAJKU00 AMFMO00
Timing: Platts bunker fuel assessments in the Americas reflect MFVAD00 AAWWZ00
deliveries three to seven days after the date of publication for AAWYM00 PUAFE00
ports in the US Gulf Coast, the US Atlantic Coast, and Latin AAIAT00 AMFMN00
America, excluding Panama. For ports on the US West Coast and MFVAE00 AAWYS00
in Panama the range is three to 10 days, due to differences in AAWZH00
BC CANADA
market operations there.
QC
New York
Size: Bunker fuel volumes vary by region, product and delivery Seattle WA NO RTH AACNY00
AAGSG00
basis. For IFO 380 CST, IFO 500 CST and Marine Fuel 0.5% AAGQN00
MFSED00 AMERICA MFNYD00
bunker fuel, volumes are defined in a minimum-maximum
AAWYL00 AAWYB00
range. For example, the minimum size for ex-wharf IFO 380 CST
PBABB00 NY AABNY00
bunker fuel in US Gulf Coast ports is 500 mt while the maximum MFSEE00 PUAFI00
size is 750 mt. Most Marine Gasoil assessments reflect typical AAWZG00 PA
volumes, while others have specific minimum-maximum ranges.
UNITED STATES MFNYE00
AAWYU00
Trades reported for volumes outside of typical volumes may be CA
VA Norfolk
considered atypical when assessing standard tradable volumes.
San Francisco AAGQW00 Philadelphia
AAGRX00 AAWYC00 AAGRF00
Delivery: Bunker fuel is assessed on either an ex-wharf or SC
PUAFG00 MFPAD00
AMFSF00
delivered basis. The following ports are assessed ex-wharf: GA
AAWYF00 Los Angeles AAWYV00 AAWYD00
Balboa, Charleston, Cristobal, Houston, Los Angeles, Montreal, PBADF00 AAGPM00
TX LA ATLANTIC PUAFJ00
New Orleans, New York, Norfolk, Panama Canal, Philadelphia, AMFSN00 MFLAD00 OCEAN MFPAE00
San Francisco, Savannah, Seattle and Vancouver. AAWZE00 AAWWY00 AAWYW00
Houston New Orleans Charleston
PBAAP00 AAMNV00
AAGPD00 AAGQE00
The following ports are assessed delivered: Buenos Aires, AAWYR00
MFHOD00 MFNOD00 AAWWV00
Cartagena, Charleston, El Callao, Guayaquil, Houston, La AAWWX00 AAWYA00 AAMOE00
MEXICO
Libertad, Los Angeles, Montevideo, Montreal, New Orleans, PACIFIC PUAES00 PUAFH00 AAWYP00
OCEAN
New York, Norfolk, Philadelphia, San Francisco, Santos, Seattle, MFHOE00 MFNOE00
Valparaiso and Vancouver. Delivered assessments include port- AAWYQ00 AAWYT00 Savannah
specific barge costs. AAXJR00
Barge Rates: Barge rates are assessed based on a regular Grade Delivered Ex-Wharf
survey of the market. The barge rates reflect the lump-sum cost IFO 500
of delivering bunker fuel adjusted to a per metric ton basis by IFO 380
dividing the lump-sum value by typical volumes delivered of IFO Marine fuel 0.5%
Marine gasoil (MGO) 0 250 mi
380 CST, Marine Fuel 0.5% bunker fuel and Marine Gasoil.
0 250 km
90 W
60 W
30 W
Marine Gasoil: All assessments for the Americas reflect Marine
MEXICO Balboa Gasoil 0.1% sulfur.
Cristobal Cartagena
Panama Canal AAJOA00
VENEZUELA Panama Canal: Platts assesses IFO 380 CST, Marine Fuel 0.5%
MFCRD00 bunker fuel and Marine Gasoil 0.1% on an ex-wharf basis in the
GUY.
PANAMA PBACW00
AAXWG00 SUR. FR. Panamanian ports of Balboa and Cristobal and basis Panama
PUBAD00 PUAYT00 COLOMBIA Canal. Platts also assesses Marine Fuel 0.5% bunkers on an
PUAEF00 AMFLB00 ex-wharf basis in Balboa. Typically, the values for these products
MFBAE00 PBABY00 in Balboa and Cristobal on either side of the canal are the same.
PBACU00 La ECU.
S O U T H On occasions when one port is valued differently than the other
AAXWI00 Libertad Guayaquil
ATOR port, the Panama Canal assessment would reflect the lower
EQU
POABJ00 AAJOC00 A M ER I C A
value for that particular product.
AMFGY00
AAJOG00
BRAZIL Posted Prices: Platts publishes Brazilian bunker fuel posted
PERU
prices daily for VLSFO and Marine Gasoil on a delivered basis
El Callao
into Paranagua, Rio de Janeiro and Santos, using the most
AMFCA00
ATLANTIC recent posted prices Platts receives from Brazil’s Petrobras.
PBABW00 BOLIVIA OCEAN Since posted prices are third-party data, the database codes
will only update on days when Platts receives new posted prices
from Petrobras.
PARA. Santos
PACIFIC
OCEAN CHILE
MFSAD00
ARGENTINA AAXWO00
Valparaiso URY.
Buenos Aires Montevideo
PUAYR00
30 S
AMFVA00 MFBAD00 AMFMT00
PBABX00 PBABR00 PBADA00
Contract Basis
Grade Delivered Ex-Wharf
IFO 380
Marine fuel 0.5%
Marine gasoil (MGO)
0 300 mi
0 300 km
Marine Fuel oil 0.5% $/GJ = [Marine fuel oil]* 0.991/40.631 Platts Bio-Bunkers B30 Rotterdam
Platts Europe and Asia Bunkers Daily price by Calorific
The delivered-Rotterdam B30 bio-bunkers calculated
Value
Marine Gasoil 0.1% $/GJ = [ Marine gasoil]* 0.94/42 assessments will reflect a ratio of 70% very-low-sulfur fuel
Platts Europe and Asia Bunkers Daily price by Calorific Value oil (VLSFO) based on Platts FOB Rotterdam Marine Fuel 0.5%
(CV) calculations are published daily in $/GJ. The daily price Methanol Bunker $/GJ = [Methanol bunker fuel]* 0.792/17.028 Barge $/mt assessment (PUMFD00) and 30% based on Platts
comparisons for bunker fuels and alternative marine fuels, FAME 0 FOB ARA RED $/mt assessment (AAWGI00) plus
reflecting the calorific value of methanol bunker fuel, LNG barging costs, and 70% VLSFO based on Platts FOB Rotterdam
Platts global bio-bunkers assessments
bunker fuel, marine fuel oil and marine gasoil. The calculations Marine Fuel 0.5% Barge $/mt assessment (PUMFD00) and
use the following conversion factors: Platts Bio-Bunkers B24 Singapore 30% Platts UCOME FOB ARA RED /mt assessment (AUMEB00)
The blended B24 bio-bunkers price is a cost-based assessment converted to $/mt, plus barging costs.Further details on the
Methanol: 17.028 GJ/m3 and 0.792 mt/m3 published on a delivered Singapore basis and is comprised of specifications of the biofuel components can be found Platts
a number of existing Platts assessments and other fixed costs. specification guide for Global Biofuels. More details on the
LNG: 1.055056 GJ/MMBtu It reflects a ratio of 76% fuel oil based on Platts benchmark Platts FOB Rotterdam Marine Fuel 0.5% Barge assessment
Marine Fuel 0.5% Bunker Dlvd Spore $/mt assessment can be found in the Platts specification guide for Europe and
Marine fuel oil: 40.631 GJ/m3 and 0.991 mt/m3 (MFSPD00) and 24% Used Cooking Oil Methyl Esther (UCOME) Africa Refined Oil Products.
based on the Platts UCOME FOB Straits $/mt assessment
Marine gasoil: 42 GJ/m3 and 0.94 mt/m3 (UCFCB00). Other inputs include storage and barging costs.
More details can be found in the Platts specification guide for
The CV spot formulas are as follows: Global Biofuels.
midpoint of the range will be used for the final calculation. Dependent ports: For some ports and/or grades, there may be
Bunkerworld average price indications
no fresh price points entered on a given day. If price movements
Platts publishes Bunkerworld Average Price Indications for Platts analyses reported transactions in order to identify for that API are strongly correlated with prices in a more liquid
a variety of ports and grades where there is less liquidity potentially anomalous data, that may be excluded from API or Platts bunker assessment, the less liquid API may be
and where no Platts assessment is published. These cover formulating an index. This analysis includes but is not limited designated a dependent price. In the case that there is no data
indications for over 300 ports worldwide and across eight fuel to standard deviation, volume and gaps in trade data. Editorial for a dependent API, a price indication will be generated based
grades: Marine Fuel 0.5%, IFO380, IFO180, MDO, MGO, Low- judgment is only applied when determining whether data is on the last known differential between the dependent API and
Sulphur 380 (1%), Low-Sulphur 180 (1%), Low-Sulphur MDO (0.1%) suitable for inclusion within the index calculation. No judgement its parent. A parent port may have multiple APIs depending
and Low-Sulphur MGO (0.1%). is used during the index calculation itself. Only data that meets on it. For example, Port Arthur, Brownsville, Lake Charles and
methodology requirements will be accepted. Average price Beaumont are all dependent on Houston. Actual data obtained
Average Price Indications indications take a simple average of all included price points for a dependent port will always take precedence over values
In some markets and locations where bunker price information for that port, grade and date. They are updated whenever a generated from the differential to the parent port.
is limited, Platts publishes Average Price Indications (API). Price new price point is added. For example, if a single indication
information collected through the market survey approach in for Auckland IFO 380 is entered on January 5 at 04:00 GMT at For those ports which do not correlate with prices in another
the form of indications or reported deals is used to generate a $200/mt, the API will be generated at that price level for that bunker port, the parent price used may be the most liquid
daily average price for each port/grade where available. For APIs, date at the time of data entry. If a reported trade is then entered regional fuel oil benchmark, for example FOB Singapore 380 CST
each price point is entered into the database independently, at 06:00 GMT on the same date at $195/mt, the API will be HSFO. Dependent port APIs are generated daily at 01:00 GMT.
including the following information: date, port, grade, price updated to $197.50/mt [(195+200)/2] for the same date but with The Montevideo and Buenos Aires port APIs reflect the previous
and time entered. For reported deals, quantity and delivery a new stamp. Average price indications are purely calculated day’s values.
date is also included. Where sources provide a range of price indices and are generated by database triggers.
indications, these will be treated as a single price point and the
The input values for the indices are the Bunkerworld Benchmark Las Palmas
Durban
Prices (BBPs). These are a set of numbers for various ports and Suez: IFO380, LSMGO, MGO, Marine Fuel 0.5%
Fujairah
grades. Where Platts publishes an assessment for a given port
Gibraltar
and grade, the assessment is used for the BBP. For all others, Las Palmas: Marine Fuel 0.5%
Piraeus
Bunkerworld Average Price Indications are used. For APIs, as the
Americas (recorded at 17:00 GMT) Rotterdam
published average can change throughout the day, the BBP is a
St. Petersburg
snapshot of the average at a preset time every day. Houston: IFO380, LSMGO, MGO, Marine Fuel 0.5%
Houston
Los Angeles
BBPs are recorded for the following port/grade combinations Los Angeles: IFO380, LSMGO, MGO, Marine Fuel 0.5% New York
daily: Balboa
New York: IFO380, LSMGO, MGO, Marine Fuel 0.5% Santos
Asia (recorded at 11:30 GMT)
Busan: IFO380, LSMGO, MDO, MGO, Marine Fuel 0.5% Panama Canal: IFO380, LSMGO, MGO
The Bunkerworld 380 Index and Bunkerworld 180 Index
Colombo: IFO380, LSMGO, MGO, Marine Fuel 0.5% Santos: IFO380, MGO, Marine Fuel 0.5% The Bunkerworld 380 Index (BW380) and Bunkerworld 180
Index (BW180) are unweighted simple averages of all BBP prices
Hong Kong: IFO380, LSMGO, MDO, Marine Fuel 0.5% Balboa: Marine Fuel 0.5% for IFO380 and IFO 180 respectively. There is no low sulfur
contribution.
Shanghai: IFO380, LSMGO, MGO, Marine Fuel 0.5%
The Bunkerworld Index The Bunkerworld Distillate Index
Singapore: IFO380, LSMGO, MDO, MGO, Marine Fuel 0.5% The Bunkerworld Index (BWI) is a dynamic index with a base The Bunkerworld Distillate Index (BWDI) is a weighted average of
value set to 1000 on September 1, 2009. The BWI is calculated the BBP prices for MDO and MGO, with a one third contribution
Tokyo: IFO380, LSMDO, MDO, Marine Fuel 0.5% using 57% Marine Fuel 0.5%S, 25% IFO 380, 15% MGO, and 3% from MDO and two thirds from MGO. There is no low sulfur
MDO. contribution.
EMEA (recorded at 16:00 GMT)
Canary Islands: IFO380, MGO The BWI is calculated as follows: The Bunkerworld Maximum 0.1% Sulfur Distillate Index
The Bunkerworld Maximum 0.1% Sulfur Distillate Index BW0.1%S
Durban: IFO180, MGO, Marine Fuel 0.5% ((Average of all BBPs for IFO380 * 0.25) + (Average of BBPs for is an unweighted index of all LSMGO BBPs and the Tokyo MDO.
Marine Fuel 0.5%S * 0.57) + (Average of BBPs for MGO * 0.15) +
Fujairah: IFO380, LSMGO, MGO, Marine Fuel 0.5% (Average of BBPs for MDO * 0.03) * 1000) / 473.9503 The Bunkerworld Marine Fuel 0.5%S Index
The Bunkerworld Marine Fuel 0.5%S Index is an unweighted
Gibraltar: IFO380, LSMGO, MGO, Marine Fuel 0.5% index of 17 0.5%S assessments published in Bunkerworld.
Revision history August 2021: Platts updated this guide to reflect the launch of fuel assessments and launched an Average Price Indicator for
ex-wharf Marine Fuel 0.5%S assessment at the east China port IFO 380 CST, effective August 17, 2020.
October 2023: Completed annual review of this guide. Added of Zhoushan on July 1, 2021. Details on merchantability of bunker
details of Rotterdam and Singapore bio-bunkers assessments. fuel were added. June 2020: Removed duplicate entry from table in EMEA.
Added Panama Canal Marine fuel 0.5% assessment. Tables
were updated to include new Bunkerworld assessments and May 2021: Platts updated this guide to reflect the amendment May 2020: Platts updated the guide to reflect the addition of a
codes. Tables were updated to include new Lisbon Marine to the composition of the Bunkerworld Index. minimum viscosity requirement of 30 CST at 50 degrees Celsius
Gasoil assessment, and to remove Gdansk 380 CST and Marine for its global Marine Fuel 0.5% assessments from April 1, 2020.
Fuel 0.5% assessments. Changed name of Montreal barging March 2021: Platts updated this guide to reflect the Platts also updated the guide to reflect the discontinuation
assessment, as well as multiple assessment sizes in the discontinuation of most of its IFO 180 CST bunker fuel of the Houston and New York ultra-low sulfur 0.1% ex-wharf
Americas. Added Cristobal and Panama Canal Marine Fuel 0.5% assessments globally from Jan. 4, 2021. bunkers fuel assessments with effect from April 1, 2020. This
assessments. Added 380 CST Zhoushan assessment. Updated market has evolved and it has become clear that ship owners
LNG and LNG conversion factors. November 2020: Platts updated the guide to reflect the have preferred to consume 0.1% marine gasoil compliant fuel
discontinuation of delivered 380 CST and 180 CST bunker in ECA zones, and market feedback is that residual blends of
November 2022: Platts updated this guide to reflect the assessments at Mumbai, Colombo, Kuwait and Khor Fakkan, and 0.1% ultra low sulfur bunkers in these locations are illiquid and
launch of daily assessments for Marine Fuel 0.5% sulfur bunker 380 CST and 180 CST bunker assessments at Melbourne and uncommon. Additionally, Platts updated the guide to reflect the
delivered at key western ports in South Korea on Oct. 3, 2022. Sydney, respectively from November 2, 2020. Platts will continue discontinuation of the Buenos Aires 3.5% sulfur IFO 380 CST,
Platts also removed the monthly averages for Petrobras bunkers to publish values for delivered 380 CST bunker at Melbourne, Buenos 3.5% sulfur IFO 180 CST, Santos 3.5% sulfur IFO 380 CST
posted prices, which were discontinued in July, 2022. Mumbai, Colombo, Kuwait and Khor Fakkan in Bunkerworld as and Santos 3.5% sulfur IFO 180 CST bunker fuel assessments,
Average Price Indications. effective February 3, 2020.
September 2022: Completed annual review of this guide.
Removed reference to 1% sulfur bunker assessments. Made September 2020: Platts completed an annual review of January 2020: Platts updated the guide to reflect the new price
minor edits to the language for greater clarity and corrected the Global Bunkers Fuel methodology and specifications assessments for Marine Fuel 0.5% bunkers on an ex-wharf
typos.January 2022: Platts updated the volumes reflected for guide. Platts reviewed all content and corrected minor basis in New Orleans, Philadelphia, Seattle and Vancouver,
Houston, New Orleans and all Panama ports for IFO 380, Marine errors throughout, as well as discrepancies between the and on a delivered basis in Buenos Aires, Cartagena, Santos
Fuel 0.5%S and Marine Gasoil, from Nov. 1, 2021. Platts also text and the tables. Platts updated the guide to reflect the and Valparaiso, effective December 2, 2019. Additionally,
updated this guide to reflect the discontinuation of the Brazilian launch of delivered Marine Fuel 0.5% and marine gasoil 0.1% Platts updated the Americas posted price table to reflect the
posted prices for VLSFO and Marine Gasoil in Salvador, from assessments at Sydney, Melbourne, Mumbai, Colombo, Kuwait discontinuation of Petrobras Bunker Posting for IFO 180 CST
Jan. 3, 2022. Platts adds European and Asian cost comparisons and Khor Fakkan from September 1, 2020. Amended Northwest and IFO 380 CST delivered prices at its Paraguana, Rio de
by calorific value.September 2021: Platts completed an European Map to reflect correct assessments in Rotterdam. Janeiro, Salvador and Santos ports and to reflect Petrobras
annual review of the Global Bunkers Fuel methodology and Updated Bunkerworld Indices to remove IPC180 and IPC380 VLSFO 0.5%S prices in the same locations. The discontinuation
specifications guide. Platts reviewed all content and corrected assessments. Updated the Bunkerworld tables to reflect new follows the announcement from Petrobras that it will no longer
minor errors throughout, as well as discrepancies between the assessments and discontinuation. Created a new table to sell 3.5% sulfur bunkers at its Brazilian ports. Platts updated
text and the tables. Platts clarifies quality reflected in global reflect Marine Fuel 0.5%S Index. Platts updated the guide to the Asia and Middle East table after discontinuing publication
Marine Fuel 0.5% assessments. Platts started reflecting offers reflect the new price assessments for Marine fuel 0.5% bunkers of high sulfur bunker fuel prices posted by Taiwan’s CPC
from Platts-approved floating storage units as additional on both an ex-wharf and delivered basis in Montreal and San Corporation for MF-80 and MF-180 grades at Hualien and Suao,
delivery points in its ex-wharf Singapore bunker assessments for Francisco and on a delivered basis in El Callao, Guayaquil, La and MF-380 grade at Hualien, Suao, Keelung and Taichung
380 CST HSFO and Marine Fuel 0.5% sulfur from Sept. 1, 2021. Libertad and Montevideo. Additionally, Platts has discontinued ports effective January 2, 2020. Platts also updated the guide to
Montevideo 3.5% sulfur IFO 380 CST and IFO 180 CST bunker reflect the lowering of sulfur limit to 0.5% for certain delivered
marine gasoil assessments in Singapore, Sydney, Melbourne, and LSMGO at Japan (Tokyo/Yokohama Bay) and West Japan guide has also been updated to reflect changes to volumes
Mumbai, Colombo, Fujairah, Khor Fakkan, Kuwait, South (Setouchi) from June 3, 2019. Platts completed an annual update for IFO 180 CT, IFO 380 CST and marine gasoil assessments
Korea, Busan, Shanghai, Lome and Offshore Nigeria from 1.5% to sections 1 to 6 of Platts Methodology and Specifications in Canada. Platts added details regarding new LNG bunker
previously, and marine diesel oil assessments in Japan and Guides in April 2019 and moved these sections into a standalone postings from FortisBC for Vancouver, Canada. Platts added new
West Japan from 2% previously, effective December 2, 2019. Methodology Guide. Specifications of bunker fuel, MGO and information regarding proposed assessments to reflect changes
The tables were updated to include Marine Fuel 0.5% and 3.5% MDO have been updated to reflect standards as defined by the in bunker supply associated with the planned International
sulfur 380 CST bunker assessments published in $/MMBtu International Organization for Standardization in document ISO Maritime Organization limitations on sulfur in marine fuels in
at Singapore, and Marine Fuel 0.5%, low sulfur 0.1% and 3.5% 8217:2010 Petroleum products - Fuels (class F) - Specifications 2020.
sulfur 380 CST delivered bunker assessments published in Eur/ of marine fuels from January 2, 2019. Platts has also updated
MWh in Rotterdam from December 2, 2019. The Asia and Middle the delivered bunker fuel section under Asia and the Middle June 2017: Platts completed an annual review of the Global
East table was updated after Platts discontinued publication of East, following a change to the delivery period and an update Bunker Fuels methodology and specifications guide. Platts
bunker prices posted by Taiwan’s CPC Corporation for the MF-80 in guidelines for participants in the Platts Market on Close reviewed all content and made minor edits to language.
and MF-180 grades at Kaohsiung, Keelung and Taichung ports assessment process for Singapore delivered bunker fuel market Guidance on atypical bids, offers and trades was clarified, while
effective November 22, 2019, as CPC has stopped supplying the from July 2, 2018. The Asia and the Middle East table was also guidance on Law, Embargoed products, Late performance,
bunker fuel grades at these three ports. In Europe, Platts added updated to add Colombo port. Compensation, Force majeure, Booking out trades and Review
new 0.5% Marine Fuel assessments in both the table and the of trades was moved. Platts also added a reference to Used
map. In Europe the guide was updated to reflect the fact that Lubricating Oils. Platts added assessments for Offshore Nigeria,
European ULSFO assessments now reflect an RMD 80 removed ex-wharf Durban and replaced with a delivered
October 2019: Platts completed an annual review of the Global specification. Algoa Bay was also added as an MGO assessment. basis assessment, and edited sections I to VI for clarity. In
Bunker Fuels methodology and specifications guide and added The European table was also updated to reflect this change. The the Americas, Platts removed references to discontinued
maps of ports at which Platts assesses marine fuel grades. The size guidelines on all European and African ports in the table assessments for 1% sulfur bunker fuel in North America and
Asia and Middle East table was updated to reflect assessments now reads 300-1,000mt as a typical minimum and maximum Panama; and IFO 380, IFO 180, marine gasoil and barging rates in
at Busan and marine fuel 0.5% MF-180 postings by Taiwan’s CPC. size, in line with the methodology guide. Portland, Oregon. Details were included for new IFO 180 CST, IFO
380 CST and marine gasoil assessments at the Panama Canal
July 2019: Platts updated the guide to reflect new IMO- March 2018: Platts completed an annual review of the Global and Santos, Brazil; and IFO 500 CST assessments at New York.
compliant Marine Fuel 0.5% bunker assessments on delivered Bunker Fuels methodology and specifications guide. Platts Platts also updated the volumes reflected in its IFO 180 CST,
and ex-wharf basis launched at key ports globally on July 1, also added a new section I to VI, while also adding additional IFO 380 CST and marine gasoil assessments in the Americas
2019. Platts also added assessments for delivered bunker fuel text on Average Price Indications in section VII. Platts removed throughout and laycan changes for its marine fuel assessments
reflecting a maximum sulfur limit of 0.5% and LSMGO with references to several posted bunker prices at Asian ports that in Panama. Platts also detailed the methodology for its barge
maximum 0.1% sulfur limit at the east Chinese port of Zhoushan have been discontinued. Platts removed reference to force rate assessments, ultra-low sulfur bunker fuel assessments,
that were launched on July 1, 2019. In the Americas, the guide majeure in Asia and the Middle East Assessments section as Panama Canal assessments and posted prices in the Americas.
was also updated to reflect that Platts discontinued the it is already covered under Part III (Page 7). Platts changed For Asia, Platts added methodology descriptions for new
publication of third-party LNG bunker fuel prices by FortisBC reference from “New York banking holiday” to “Singapore delivered LSMGO and LSMDO assessments launched at Asian
from June 3, 2019. banking holiday” under Payment in Asia and the Middle East ports starting June 1, 2017.
Assessments section (Page 16).
June 2019: Platts updated the guide to reflect changes to the January 2016: Platts created a global bunkers guide
delivery and volume reflected in its assessment of delivered December 2017: Platts has updated the guide to remove incorporating sections that had previously been incorporated
bunker prices at Fujairah, Hong Kong, Shanghai and South a reference to Hong Kong marine gasoil delivered bunker into regional oil products guides.
Korea (Busan and Ulsan), and delivered 380 CST, 180 CST, MGO assessments that were discontinued November 1, 2017. The