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Platts Reminds Fuel Oil Buyers Not to Expect GCMS Testing as Standard
Price reporting agency S&P Global Platts has warned fuel oil buyers not to assume that their product has been subjected to gas chromatography/mass spectrometry (GCMS) quality testing.
GCMS is an advanced and more expensive testing technique that has been used more widely in the bunker industry since the global contamination problems of 2018. GCMS tests were able to spot some of the contaminants that caused engine failures across the world that year where conventional testing failed.
"Platts is aware that additional testing of fuel oil quality, particularly GCMS, is being conducted more commonly now in the Singapore fuel oil cargo market," the price reporting agency said in a note to its subscribers this week.
"Platts would like to remind market participants that performance of trades reported in the Platts Market on Close assessment process is not conditional upon results of such additional tests."
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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