OPIS Releases Enhancements to Daily Global Marine Fuel Price Report
ROCKVILLE, MD (December 23, 2019) — Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO), an internationally-referenced price-reporting agency serving the oil, natural gas, biofuels and petrochemical industries, announced today it has expanded its offerings in the Global Marine Fuels Report to include price discovery for additional bunker ports across Asia, Europe and the Americas.
In addition, the company has expanded its OPIS-benchmarked ultra-low-sulfur-diesel (ULSD) prices for spot and rack markets across the U.S. Diesel will be an essential component of the 0.5% sulfur (0.5%S) IMO 2020-compliant fuel, called very-low-sulfur fuel oil (VLSFO), and it already is a major component of marine gas oil (MGO). Only OPIS provides benchmarked diesel prices for U.S. spot and rack markets.
The daily price benchmarks found in the OPIS Global Marine Fuels Report, are based on full-day assessments for maximum transparency and reliability, unlike other pricing tools that provide an abbreviated trading day or differential prices. With IMO 2020 fuel restrictions taking effect in less than a month, this concise price report is even more essential for shipowners, refiners, suppliers, fuel managers and traders.
OPIS Global Marine Fuels Report now features ULSD benchmark rack prices for the following cities:
- Houston
- New York
- Philadelphia
- Norfolk, Virginia
- New Orleans
- Los Angeles
- Seattle
- Detroit
- Vancouver, British Columbia
ULSD spot prices have been added to the OPIS Global Marine Fuels Report for:
- Gulf Coast
- New York Barge
- Los Angeles
- Pacific Northwest
New bunker ports in the OPIS report include:
Asia
- Chiba, Japan
- Busan, South Korea
- Kaohsiung, Taiwan
- Zhoushan, China
Europe
- Antwerp, Belgium
- Hamburg, Germany
- Istanbul
- Gibraltar
- Piraeus, Greece
Americas
- Philadelphia
- Norfolk, Virginia
- Vancouver, British Columbia
- Manzanillo, Mexico
- Veracruz, Mexico
- Valparaiso, Chile
“Only the OPIS Global Marine Fuels Report offers bulk fuel oil, bunker, barge rates and LNG prices in a single publication, along with a British thermal unit (BTU) indicator that allows buyers to compare the energy content-per-dollar-spent on the various marine fuel grades available,” said Jennifer Brumback, director of refined products and renewable fuels for OPIS. “As the benchmark for diesel fuel in select U.S. wholesale markets, OPIS is uniquely positioned to provide the most widely used pricing for the diesel products that will be a major component of the price and formulations of the new IMO 2020-compliant marine fuel blends.”
To learn more about the OPIS Global Marine Fuels Report, please contact Jennifer.brumback@ihsmarkit.com, or +1 727 202 6501.
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About OPIS (www.opisnet.com)
Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS and OPIS PetroChem Wire enable customers to buy and sell oil and gas products with confidence via easy access to transparent data, expert-level customer support, educational events and energy data solutions with Axxis Software and OPIS RetailSuite.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
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