Platts launches European methanol bunker fuel price assessments

S&P Global Platts has launched daily methanol bunker fuel price assessments, reflecting the value of methanol used as a marine fuel at the port of Rotterdam, effective Sept. 27, 2021.

The new assessments will meet growing market demand on the back of an increased build-out in vessels utilizing methanol as a marine fuel and related activities at this major bunkering hub.

Platts first proposed to assess methanol bunkers in a subscriber note published on Aug. 13, 2021, in a subscriber note available here: https://bit.ly/3jTiUZO. The launch was confirmed on Sept. 13, 2021, in a subscriber note available here:

Platts publishes these assessments in $/mt delivered Rotterdam.

Platts assesses methanol bunker fuel at a differential from its daily methanol FOB Rotterdam spot assessment calculated in $/mt (HPACQ10), publishing the final assessment on a flat-price basis. The flat price includes the logistics costs from the terminal to the barge or truck, and charges for delivery direct to the receiving vessel. As spot activity emerges in this nascent market, Platts assessment approach will evolve accordingly; assessments may consider the prevailing tradable value of methanol bunker fuel on a barge-to-ship (delivered) or truck-to-ship (ex-wharf) basis and may take into consideration other local methanol bunkering hubs.

Additionally, Platts publishes methanol bunker fuel calculations converted to LNG and oil energy content equivalents, enabling comparison with other marine fuels, using the following factors to convert the methanol price from metric tons:

Methanol bunker fuel value as LNG equivalent: 52 GJ/mt for LNG, 21.5 GJ/mt for methanol

Methanol bunker fuel value as marine fuel oil equivalent: 41 GJ/mt for marine fuel oil, 21.5 GJ/mt for methanol

Alongside the launch of methanol bunker fuel assessments, Platts has introduced daily cost comparisons for alternative marine fuels, reflecting the calorific value comparison of methanol bunker fuel, LNG bunker fuel, marine fuel oil and marine gasoil, also effective Sept. 27, 2021.

The comparisons use the following conversion factors:

Methanol: 17.028 GJ/m3 and 0.792 mt/m3

LNG: 23.40 GJ/m3 and 0.45 mt/m3

Marine fuel oil: 40.631 GJ/m3 and 0.991 mt/m3

Marine gasoil: 42 GJ/m3 and 0.94 mt/m3

The European methanol bunker fuel assessments appear in Platts Petrochemical Alert page PCA1159 and Platts Petrochemical publications with the cost comparisons featuring in Platts Bunker Alert pages PGB1159 and PGB0227 and Platts bunker fuel publications , under the following price database symbols:

MLBRT00 Methanol Bunker Rotterdam $/mt

MLBRT04 Methanol Bunker Rotterdam $/mt WAvg

MLBRT03 Methanol Bunker Rotterdam $/mt MAvg

MLBRO00 Methanol Bunker Rotterdam (Oil) $/mt

MLBRO04 Methanol Bunker Rotterdam (Oil) $/mt WAvg

MLBRO03 Methanol Bunker Rotterdam (Oil) $/mt MAvg

MLBRL00 Methanol Bunker Rotterdam (LNG) $/mt

MLBRL04 Methanol Bunker Rotterdam (LNG) $/mt WAvg

MLBRL03 Methanol Bunker Rotterdam (LNG) $/mt MAvg

CVMLR00 Methanol Bunker Rotterdam Calorific Value $/GJ per cu m

CVLNR00 LNG Bunker Rotterdam Calorific Value $/GJ per cu m

MVMLR00 Methanol Bunker Rotterdam Calorific Value $/GJ per cu m (mirror)

CVMFR00 Marine Fuel 0.5% Dlvd Rotterdam Calorific Value $/GJ per cu m

CVMGR00 Marine Gasoil 0.1% Dlvd Rotterdam Calorific Value $/GJ per cu m

The assessments also appear in Petrochemicals Service, Shipping Service, LNG service, Refined Products Service and Energy Transition service on Platts DimensionPro.

Beyond the immediate scope of this launch, Platts is also considering introducing methanol bunker fuel assessments in Asia and the Americas and invites feedback on specifications and hubs in those regions.

Please send all comments, feedback and questions to petchems@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.