S&P Global Platts Launches Global Suite’s First Global Methanol Bunker Fuel Price Assessment
Assessments in Asia and the United States complement Rotterdam’s pricing for upgrading methanol as a marine fuel
Posted: October 25, 2021 at 4:21 am EDT|Update: 2 hours ago
SINGAPORE, 25 October 2021 / PRNewswire / – S&P Global Platts (“Platts”), the leading independent provider of information, analysis and benchmarking for the commodities and energy markets, today announced the launch of two new daily methanol bunker fuel price assessments reflecting the value of methanol used as marine fuel in ports of Singapore and Houston, effective 25 October 2021.
Methanol is one of the many alternative marine fuels available to the global shipping industry. The addition of two major hub ports in Asia and US Gulf Coast Following Platts Market First Product Launch Europe evaluation of the delivered methanol bunker fuel Rotterdam to September 27, 2021 and expands the offer on a global scale.
Stergios Zacharakis, Head of Global Methanol Pricing, S&P Global Platts, said: “Methanol has seen an increasing demand for use as a marine fuel, due to increased shipbuilding and related activities in major bunkering centers around the world. Our new assessments and associated cost comparisons provide new transparency to market players in the methanol value chain as well as the bunker community as the shipping industry seeks to mitigate greenhouse gas emissions and to demand cleaner marine fuels. “
The two new daily valuations will be published on a delivered basis in $ / mt to 4:30 p.m. local time in Singapore and 1:30 p.m. local time in Houston. The estimates for the two regions will reflect the cost of methanol in cash, delivery from the terminal to the barge and delivery to the receiving vessel. The Singapore the assessment will also include storage costs in line with the price dynamics of the South East Asia methanol market.
Over 25 October 2021, Platts will publish methanol bunker fuel calculations converted to LNG equivalents and petroleum energy content, allowing comparison with other marine fuels. Platts will also publish daily cost comparisons for alternative marine fuels, reflecting the calorific value comparison of methanol bunker fuel, LNG bunker fuel, marine fuel oil and marine diesel fuel.
The full subscriber note can be found here.
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