Water
The water content as defined by ISO8217:2005 does have an allowable level of 0.5%, therefore we can only consider ‘claimable’ losses above that level.
Using the above example with 1000 m/t being ordered, say the water content is 2.4% but only the excess above 0.5% can be claimed:
Water content = 19 m/t = USD 10,450 (assuming at USD 550 m/t)
Without this knowledge of water content many of the high water deliveries would go unnoticed by the fuel purchaser, the result being water being paid for rather than oil.
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