Price reporting agency S&P Global Platts has killed off most of its delivered assessments of 180 CST fuel oil once the mainstay of the bunker market – after shipping companies largely moved on to more viscous bunkers, reports Ship&Bunker.
Market Feedback
“The discontinuation follows market feedback that IFO 180 CST is no longer being produced or sold at most locations globally, following the introduction of a 0.5% sulfur cap in marine fuels by the International Maritime Organization,” Platts said in a statement on its website Monday.
The assessments have been discontinued as of January 4. Platts will continue assessing 180 CST prices Durban, where it remains the main grade.
A decline
180 CST fuel oil demand had been declining steadily for the past few decades, and finally dropped to a standstill last year after most ships shifted to burning new VLSFO blends.
Singapore recorded its last sales of the grade in January 2020, taking up just 0.02% of total demand at the hub.
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Source: Ship&Bunker
