Global energy and commodity price reporting agency Argus Media on Monday launched five new price assessments for marine fuel markets at several bunkering locations, including Rotterdam, New York and the US Gulf coast.
These assessments are for marine fuel that complies with the International Maritime Organisation (IMO) regulation that will reduce the allowable sulphur content in marine fuels to 0.5% from 3.5% from 1 January 2020.
The new price assessments are as follows:
“Argus is pleased to be taking the lead in bringing price transparency that enables this large and emerging oil market to advance trading in preparation for the IMO 2020 required fuels, which will be quite different from the marine bunkers we see today,” Argus Media chairman and chief executive Adrian Binks said.
“To comply, the market is already pursuing new benchmarks and new pricing tools that we now provide. With decades of experience in pricing these markets, Argus is uniquely qualified and well placed to provide the marine fuels industry with the most robust pricing solutions.”
The development expands on Argus' September launch of the industry's first IMO-compliant 0.5% sulphur marine fuel price in Singapore.
Argus’ coverage of traded 380 centistokes (cSt) grade and low sulphur marine gas oil (LS MGO) at Singapore reached a new milestone on Friday.
Related: Argus: Bunker assessment covered 55% of Singapore spot market on Friday
Related: Argus launches ‘LSFO 0.5%S’ delivered bunker assessment for Singapore market
Related: Argus Media’s Singapore bunker spot assessment reaches new milestone
Related: Argus officially launches 380 cSt, MGO, LSMGO bunker price assessment
Related: Argus Media discusses Singapore bunker price assessments
Related: Argus Media and IBIA organises Singapore bunker fuel seminar
Photo credit: Argus Media
Published: 13 November, 2018
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