USGC Marine Fuel 0.5% Barges (Platts) (mt) vs. European FOB Rdam Marine Fuel 0.5% Barges (Platts) BALMO

1,000 metric tons

U.S. dollars and cents per metric tons

Financially Settled

The Floating Price for each contract month is equal to the balance of month arithmetic average of the $/mt quotations the Platts US Marketscan under the heading “Marine Fuel” for “0.5% FOB Gulf Coast barge” minus the balance of month arithmetic average of the high and low quotations from the Platts European Marketscan under the heading “Marine Fuel” for “0.5% FOB Rotterdam barge“ from the selected start date through the end of the contract month, inclusive. 
 
The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the balance of month average for each component leg of the spread shall be calculated by using all days on which the prices are published in the month (from the selected start date through the end of the contract month, inclusive) for each component leg of the spread, followed by the calculation of the spread differential between the two averages.