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Bunkerworld Price Methodology

Bunkerworld publishes a daily benchmark price - the Bunkerworld Benchmark Price (BBP) - for four marine fuel grades: 380 centistoke intermediate fuel oil (IFO380), 180 centistoke intermediate fuel oil (IFO180), Marine Gasoil (MGO) and Marine Diesel Oil (MDO).

Fuel specifications

In line with international practice, marine fuels referred to in the Bunkerworld Benchmark Price (BBP) are for products conforming with the latest International Standard for Marine Fuels, ISO 8217:2005 - Petroleum products - Specifications of marine fuels.

IFO380: Using ISO 8217:2005 as a guideline, IFO380 specifications typically align to RMG380.

  • Maximum Kinematic Viscosity: At 50C: 380cst
  • Flash point 60C minimum.
  • Pour point 'winter' quality, -30C max; 'summer' quality, 30C max.
  • Ash 0.15% m/m maximum.
  • Sulphur, maximum 4.5%.
  • Vanadium max 300 mg/kg.
  • Aluminium plus silicon, 80 mg/kg max.
  • Water, 0.5% max.

IFO180: Using ISO 8217:2005 as a guideline, IFO180 specifications typically align to RME180.

  • Maximum Kinematic Viscosity: At 50C: 180cst
  • Flash point 60C minimum.
  • Pour point 'winter' quality, -30C max; 'summer' quality, 30C max.
  • Ash 0.10% m/m maximum.
  • Sulphur, maximum 4.5%.
  • Vanadium max 200 mg/kg.
  • Aluminium plus silicon, 80 mg/kg max.
  • Water, 0.5% max.

Marine Diesel Oil (MDO): Using ISO8217:2005 as a guideline, MDO specifications typically align to DMB.

  • Maximum Kinematic Viscosity: At 40C: max 11cst
  • Flash point 60C minimum.
  • Pour point 'winter' quality, 0C max; 'summer' quality, 6C max.
  • Ash 0.01% m/m maximum.
  • Sulphur, maximum 2.0%.
  • Water, 0.3% max.

Marine Gasoil (MGO): Using ISO8217:2005 as a guideline, MGO specifications typically align to DMA.

  • Maximum Kinematic Viscosity: At 40C: min 1.5cst; max 6cst
  • Flash point 60C minimum.
  • Pour point 'winter' quality, -6C max; 'summer' quality, 0C max.
  • Ash 0.01% m/m maximum.
  • Sulphur, maximum 1.5%.
  • Appearance: Clear & Bright

Timing:

Bunkerworld Benchmark Price (BBP) assessments are typically quoted for product to be supplied within 3-7 days in the spot market. Assessments are based upon contact with main suppliers, brokers and traders operating within the bunker hub. In addition, input is derived from transactable market levels though Bunkerworld's "My Deals", which include confirmed fuel transactions.

Check website for local BBP times for Singapore, Fujairah, Rotterdam, and Houston.

Price:

Prices are quoted in US$ per metric tonne (mt), delivered on board basis, i.e. including barge transport and/or ex-pipe fees. Price assessments are generally published as a benchmark (BBP) and with a spread (or range), with a typical maximum spread of $5 per mt.

Stem size:

Typical stem sizes range from 500 to 2,000 mt for IFOs and 10 mt to 350 mt for distillates. Price assessments are based on a stem size of 500 mt for IFOs, 75 mt for MDO, and 50 mt for MGO.