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NEW PRICING INFORMATION FOR LOW-SULPHUR MARINE FUELS

Monday, December 23, 2019 

Price reporting agency Oil Price Information Service (OPIS) has expanded its offerings in the Global Marine Fuels Report to include price discovery for additional bunker ports across Asia, Europe and the Americas.

In addition, the company has expanded its OPIS-benchmarked ultra-low-sulfur-diesel (ULSD) prices for spot and rack markets across the US. Diesel will be an essential component of the 0.5% sulphur (0.5%S) IMO 2020-compliant fuel, called very-low-sulphur fuel oil (VLSFO), and it already is a major component of marine gas oil (MGO).

The daily price benchmarks found in the OPIS Global Marine Fuels Report, are based on full-day assessments for maximum transparency and reliability, unlike other pricing tools that provide an abbreviated trading day or differential prices. With IMO 2020 fuel restrictions taking effect in less than a month, this concise price report is even more essential for shipowners, refiners, suppliers, fuel managers and traders.

“Only the OPIS Global Marine Fuels Report offers bulk fuel oil, bunker, barge rates and LNG prices in a single publication, along with a British thermal unit (BTU) indicator that allows buyers to compare the energy content-per-dollar-spent on the various marine fuel grades available,” said Jennifer Brumback, director of refined products and renewable fuels for OPIS. "As the benchmark for diesel fuel in select US wholesale markets, OPIS is uniquely positioned to provide the most widely used pricing for the diesel products that will be a major component of the price and formulations of the new IMO 2020-compliant marine fuel blends.”

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