World News
Platts Kills Off 180 CST Fuel Oil Price Assessments
Price reporting agency S&P Global Platts has killed off most of its delivered assessments of 180 CST fuel oil -- once the mainstay of the bunker market -- after shipping companies largely moved on to more viscous bunkers.
"The discontinuation follows market feedback that IFO 180 CST is no longer being produced or sold at most locations globally, following the introduction of a 0.5% sulfur cap in marine fuels by the International Maritime Organization," Platts said in a statement on its website Monday.
The assessments have been discontinued as of January 4. Platts will continue assessing 180 CST prices as Durban, where it remains the main grade.
180 CST fuel oil demand had been declining steadily for the past few decades, and finally dropped to a standstill last year after most ships shifted to burning new VLSFO blends. Singapore recorded its last sales of the grade in January 2020, taking up just 0.02% of total demand at the hub.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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