The low-sulfur fuel oil futures pricing system is further improved

　　On June 21, at the 2022 Fuel Oil Industry Summit held in Shanghai, Shanghai International Energy Trading Center, a subsidiary of Shanghai Futures Exchange (hereinafter referred to as Shanghai Futures Exchange), joined hands with Zhejiang International Oil and Gas Trading Center (hereinafter referred to as Zhejiang Oil Center).
Published "China Zhoushan Low Sulfur Fuel Oil Bonded Ships for Buyer Quotations" based on low sulfur fuel oil futures
.

　　It is understood that on June 21 last year, Shanghai Futures Exchange and Zhejiang Oil Center released the "China Zhoushan Low Sulfur Fuel Oil Bonded Ship Offer" (ie, seller's quotation), creating a pricing system based on low-sulfur fuel oil futures
.
"After a year of operation, the seller's quotation based on low-sulfur fuel oil futures has been recognized by the market
.
On this basis, Zhejiang Oil Center has introduced a buyer's quotation
.
The introduction of the buyer's quotation is to improve China's price in the international energy market.
The influence provides a new path, is a useful supplement to the seller's quotation, and improves the RMB pricing system that combines futures and currents in the bonded ship fuel industry
.
" said Chen Rong, chairman of Zhejiang Oil Center
.

　　Pan Guangen, Deputy Director of Zhejiang Provincial Financial Supervision and Administration Bureau, said that "China Zhoushan Low Sulfur Fuel Oil Bonded Ship Offers Buyer's Quotation" is another important practice of Shanghai Futures Exchange and Zhejiang Oil Center's futures cooperation, forming a market with China's bonded ships for oil supply.
Status matching RMB-denominated marine fuel oil bunkering offer
.

　　Fu Xiangsheng, vice-chairman of China Petroleum and Chemical Industry Federation, said that in recent years, China's fuel oil industry has undergone clean energy conversion and industrial restructuring, and has achieved breakthrough development results.
The fuel supply of bonded ships has doubled in the low-sulfur era.
With rapid growth, China's oil companies are attracting the world's attention in safety production, oil supply services and international pricing
.
Shanghai Futures Exchange has made unremitting efforts in accelerating the construction of the commodity futures and spot market and improving the oil and gas product system.
Products and services provide an important guarantee for the production, operation and innovative development of China's oil companies
.

　　Yu Jiyou, President of the Fuel Oil Branch of the Shanghai Petroleum Products Trade Industry Association, believes that since the listing of low-sulfur fuel oil futures in 2020, there has been a rich structure of participants, active market transactions, close linkage between futures and currents, and abundant delivery resources, which has prompted low-sulfur fuel oil futures.
Form a market-based pricing mechanism that integrates current and future
.

　　"The quotations from the sellers and the buyers for the China Zhoushan low-sulfur fuel oil bonded ships are in line with the actual supply and demand in the Chinese market, which reflects the quality and price advantages of China's low-sulfur fuel oil, and shows that China's marine fuel supply market is promising
.
" Director of Sinopec China Shipping Marine Fuel Supply Co.
, Ltd.
E Hongda said
.