Platts, part of S&P Global Commodity Insights, has launched a daily LNG bunker fuel price assessment, reflecting the value of LNG used as a marine fuel in East China, effective Oct. 2.
The assessment reflects the prevailing spot price of LNG bunkers transacted in ports in East China, with a basis of Shanghai.
Deliveries into other ports in East China including Zhoushan and Ningbo are also considered and may be normalized to the above-mentioned basis.
The new assessment is published on a fixed price delivered basis in $/MMBtu.
A conversion to $/metric ton of LNG is also published from the MMBtu assessment using a factor of 52.
The assessment reflects barge-to-ship delivery.
Platts takes into consideration truck-to-ship price information and normalizes this where appropriate to a barge-to-ship equivalent price.
The assessment reflects bunker deliveries of at least 1,000 cu m for 7-20 days ahead.
Pricing information for LNG bunker deliveries with other specifications and terms may be normalized to the proposed standard.
Platts converts floating prices, or index-linked prices, to a fixed price equivalent for consideration in the final assessment.
The assessments reflect market value at the close of Singapore trade at 4:30 pm Singapore time and follow the Singapore publishing schedule.
Source: Hellenic Shipping News
