Marine Fuel (0.5% sulfur) FOB Singapore

This cash assessment reflects the value of a cargo of 0.5% fuel loading 15-30 days from the date of assessment. It is primarily used as a low-sulfur bunker fuel, but is often used in power generation. It can be burned in ships without scrubbers to meet IMO sulfur regulations. It is traded as an outright price and a differential to the underlying forward curve. The balmo and monthly assessments are Quantum's assessed value of OTC contracts that are financially-settled against S&P Global Platts' average monthly assessment published on the calendar month in question. The swaps assessments roll monthly on the 1st of each month.