HOUSTON – Orion Engineered Carbons S.A. is adopting the Platts North West Europe 1% Sulfur fuel oil index (FO 1%S FOB NWE) for contract pricing in Europe, replacing the 1% Sulfur Rotterdam fuel oil index (FO 1%S FOB ROT) in Europe as of July 1, 2019. The 1% Sulfur Rotterdam fuel oil index is no longer functional, does not trade forward and does not track other 1% indices anymore. FO 1%S FOB NWE is currently functioning and therefore is the appropriate index at this time. Orion exclusively uses low sulfur carbon black oil (CBO) grades in Europe.
“Orion values our European customers and strives to work with them in a highly transparent way,” said Erik Thiry, Senior Vice President Rubber Carbon Black. “Orion will continue to closely monitor CBO market changes with the upcoming IMO Marpol 2020 regulations. We will keep our customers updated if further required changes are needed due to changes in feedstock markets. We look forward to growing our customer relationships with the reliable supply of valued added carbon blacks.”