• Follow Us On Our Preferred Social Media Platform:

Shanghai INE performs first overseas delivery of VLSFO futures contract

25 Jan 2021

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

Related News

Featured News

Our Industry Partners

  • argus

PR Newswire