The Shanghai International Energy Exchange (INE) on Wednesday (27 May) said it plans to conduct a mock test of its Low Sulphur Fuel Oil Futures from 1 June to 12 June, 2020.
The new contract will be open to international companies, and will be traded in 10 metric tonne (mt) lots.
The lots will be denominated in Yuan (RMB), with contracts listed twelve months ahead beginning with January 2021.
The settlement type is noted to be physical delivery; however, no other delivery details were disclosed in its statement.
The Low Sulphur Fuel Oil Futures Mock Test Guide released by Shanghai INE is available here.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
Representatives of Veritas Petroleum Services, Maersk, INTERTANKO, ElbOil Singapore, and SDE International provide insight from their respective fields of expertise on what lies ahead.