The Shanghai Futures Exchange (SHFE) Monday listed and traded its newly launched bonded 380 fuel oil futures contracts on Monday.
SHFE in late June amended its fuel oil futures contracts to promote greater trade; key changes were the adoption of RMG 380 product (from 180 cSt) and the new contract size of 10 metric tonnes per lot (from 50 mt per lot).
As such, it has amended a series of documents concerning the futures contracts below:
??1. Fuel Oil Futures Contract of the Shanghai Futures Exchange, as amended
??2. Clearing Rules of the Shanghai Futures Exchange, as amended
??3. Delivery Rules for Fuel Oil Futures of the Shanghai Futures Exchange, as amended
??4. Designated Delivery Storage Facilities Rules of the Shanghai Futures Exchange, as amended
??5. Designated Delivery Oil Depots Rules of the Shanghai Futures Exchange, as amended
??6. Risk Management Rules of the Shanghai Futures Exchange, as amended
The trading volume of the RMG 380 futures by market close reached 59,658 lots, at 1.8 billion yuan ($269.80 million), according to the exchange, as noted by Reuters.
Sinopec and China National Petroleum Corp (CNPC) among other oil and chemical majors participated in the trading.
Published: 17 July, 2018
Concludes long-term agreement with Associated British Ports to start new operations base at facility.
Sales of marine fuels with a sulphur content below 0.1% increased by 26% in 2018 reaching 200,000 mt.
Several methanol-ready tankers; the “Stena Pro Patria” to be delivered in 2022, and three Proman-owned dual-fuel vessels due in 2023 will be fitted with the system.
‘We look forward to welcoming key leaders from around the world to Singapore next October,’ says MPA.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
JFE Steel on Tuesday (20 July) said it has agreed with shipping firms K Line, Mitsui OSK Lines (Mol) and NYK Lines to charter an LNG-fuelled Capesize vessel each.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
Maersk, CMA CGM, BP and Stena Bulk give insights on availability of the three potential bunker fuel types, their plans, transition from fuel oil and LNG to alt fuels, how important sustainable marine fuels are to shipowners and more.
