The Shanghai International Energy Exchange (INE) recently completed its first deliveries of very low-sulphur fuel oil (VLSFO) with three global trading firms , reports Reuters.
Trafigura Pte Ltd and Freepoint Commodities Singapore Pte Ltd reportedly received a combined 2,500 metric tonnes (mt) of VLSFO from Universal Terminal in Singapore.
Chinese-owned China-Base Resources Pte Ltd received another 1,000 mt of VLSFO from the same storage.
INE had earlier signed an agreement with PetroChina to utilise its distribution centre in Singapore as a delivery point for its VLSFO futures contracts.
The partnership marks the first time a futures contract in China can be deliverable outside of China, and would boost liquidity and flexibility for the contracts, as well as help to influence pricing for bunker fuel.
Related: Shanghai INE inks agreement with PetroChina for LSFO futures overseas delivery
Related: Shanghai INE mulls Singapore port as delivery location for LSFO futures contracts
Related: Shanghai International Energy Exchange confirms listing date of LSFO futures contracts
Related: China Securities Regulatory Commission approves INE’s LSFO futures contractsRelated: Shanghai INE VLSFO futures project enters milestone, trading simulations to start in June
Photo credit: Edward-He
Published: 25 January, 2021
On 5th June 2021, VPS carried out a Remaining On Board (R.O.B.) survey on board a Singapore-registered bunker tanker at short notice by the Charterer and quickly identified the theft of 98 metric tons of bunker fuel.
The Bunkerchain Pte Ltd and Helmsman LLC sponsored event will be moderated by Gabian Chew, Senior Editor of Singapore bunkering publication Manifold Times.
No quarantine required if vessels have not called at Brazil, India, Nepal, Pakistan, the Philippines and South Africa during the 21 days prior to arrival at Hong Kong port, according to Marine Department notice.
CCIC discuss the progression of MFM technology for bunkering at Singapore port with Manifold Times; and possible development of a primary facility for MFM calibration.
‘The acquisition of PGI Industries will enhance VPS’ preventative maintenance services offered to the power sector, increasing protection and sustainability of the asset,’ says Malcolm Cooper, CEO, VPS.
A foreign vessel was involved in an alleged unauthorised STS incident with bunker tanker Pearl Melody on 5 June, Director and General Manager of Consort Bunkers tells Manifold Times.
14 Jun 2021