中文
Recently, freepoint commodities Singapore PTE. Ltd., a wholly-owned subsidiary of freibo group, one of the world’s leading fuel oil suppliers, and CHIMBUSCO International Petroleum (Singapore) Co., Ltd Pte.Ltd , China Merchants Energy Trading (Singapore) PTE. Ltd. and COFCO international freight SA signed the marine fuel oil supply contract based on the low sulfur fuel oil contract of Shanghai international energy trading center. Different from the previous cases in which China’s futures pricing is applied to international trade contracts, both the buyer and the seller of the contract are foreign-funded institutions, which is the first time that China’s fuel oil futures price has become the pricing benchmark for overseas trade. Market participants believe that the conclusion of these trade contracts fully proves the rising price influence of China’s low sulfur fuel oil futures in the Asia Pacific and global marine fuel oil industry.
It is understood that the price announced by Proctor is the main reference standard for overseas marine fuel oil trade contracts. “Since the listing of ine low sulfur fuel oil contract, it has attracted extensive attention from domestic and foreign market participants, and the successful implementation of the first cross-border settlement business has further enhanced the international influence of the contract,” said the Asia Pacific fuel oil trading team of freibo. Inspired by the overseas delivery of ine low sulfur fuel oil, we tried to sign the supply contract of EXW bunker and delivered bunker in Singapore at the price of ine low sulfur fuel oil futures, and got positive feedback from the international first-line marine oil suppliers and well-known ship owners. At present, the three supply contracts we have signed are different in terms of delivery form and payment currency, which has accumulated experience for further exploring trade cooperation based on ine low sulfur fuel oil futures pricing. ”
Low sulfur fuel oil futures is an important international futures that conforms to the development and changes of the global shipping industry and aims to serve the domestic and foreign shipping markets and the real economy in the energy field. It is the only physical delivery futures contract in the global shipping fuel industry at present. Since its listing on June 22, 2020, the transaction has been active and stable, and the first physical delivery has successfully realized cross-border settlement. By the end of March 2021, 14.1583 million transactions of low sulfur fuel oil futures had been completed, with a total transaction value of 371.06 billion yuan and an average daily position of 139000. The futures market fully played its role in serving the real economy, provided risk management tools for the global fuel oil market and assisted global customers in risk management.