Commodities pricing agency SP Global Platts has dropped three floating storage units in Malaysia from its Singapore fuel oil and bunker fuel price assessment process following a review, the company said in a note to subscribers.
Platts, "no longer reflects the vessels CS Innovation, CS Prosperity and CS Brilliance as additional loading points in its Market on Close assessment process for Singapore fuel oil cargo and ex-wharf bunkers, effective immediately", it said in the note dated July 3.
"This follows a review of market participants' ability to trade offers in the MOC process where product is for loading from these three vessels."
Marshall Islands-flagged CS Innovation and CS Prosperity are operated by CSHA Shipping and CSHB Shipping, respectively, while Panama-flagged CS Brilliance is managed by CSHB Shipping.
These floating storage units are located at Tanjung Pelepas, within the Tanjung Pelepas Port Limits in southern Malaysia's Johor state.
The companies, based in Marshall Islands, could not be immediately reached for comment as their contact details cannot be found on the internet and they do not have websites.
The exclusion brings the number of approved floating storage units to 11, down from 14 previously, in the FOB Singapore cargo and ex-wharf bunkers MOC process for 0.5 per cent sulphur marine fuel and 380-cst high-sulphur fuel oil.
The vessels were dropped from Platts' MOC process following feedback that they were carrying blends of oil including supply from Russia, Iran and Venezuela, market sources said, referring to the group of producers that face various embargoes from western nations.
Platts did not immediately respond to a request for comment from Reuters.
(Reporting by Jeslyn Lerh; Editing by Christopher Cushing, Florence Tan and Louise Heavens)