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    Home > Chemicals Industry > China Chemical > Zhejiang and Shanghai jointly release low-sulfur fuel oil bonded ships for quotations

    Zhejiang and Shanghai jointly release low-sulfur fuel oil bonded ships for quotations

    • Last Update: 2021-08-03
    • Source: Internet
    • Author: User
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    China's voice in bonded fuel pricing

    China's voice in bonded fuel pricing

    Sinochem News "The LU futures settlement reference price is 3408 yuan (ton price, the same below), the premium and discount quotes are -2 yuan, and the Zhoushan price is 3406 yuan

    " At 4 pm on June 21, Zhejiang International Oil and Gas Trading Center Co.

    As of noon on June 26, Sinopec Fuel Oil, Chimbusco, and PetroChina Fuel Oil had sold a total of 5,300 tons

    The China Zhoushan low-sulfur fuel oil bonded ships jointly developed and compiled by the Shanghai Futures Exchange and the Zhejiang International Oil and Gas Trading Center provide quotations, which further enhance Zhoushan's right to speak in the price of the bonded low-sulfur fuel oil market

    It is understood that the release time of Zhoushan ship’s quotation is 4 pm every day, and the quotation currency is RMB.
    Bonded ships provide fuel oil refueling companies based on the daily settlement price of the first line of low-sulfur fuel oil futures +2 contract.
    After the premiums and discounts of each company are weighted by the annual or quarterly refueling ratio, the quotations and full prices of refueling premiums and discounts based on low-sulfur fuel oil futures will be publicly announced

    "Different from other existing quotations, Zhoushan Ship’s quotation is quoted before the active period of low-sulfur fuel oil spot transactions on the day, which guides the spot price trend of the day and enhances the transparency of the bonded marine fuel oil market

    According to relevant staff of Zhejiang International Oil and Gas Trading Center, Zhoushan Ship’s use of futures settlement price as the benchmark price for quotation is an innovation in the linkage between low-sulfur fuel oil futures prices and spot prices

    All price data for Zhoushan Ship’s quotation is taken from low-sulfur fuel oil operating companies in the Zhoushan area of ​​the Zhejiang Pilot Free Trade Zone.

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