Skip to main content

INE: Announcement on Approving of More Delivery Points for Low Sulfur Fuel Oil

Announcement on Approving PetroChina International Co., Ltd. as Group Delivery Center, PetroChina International (Zhejiang)Co., Ltd. as Group Delivery Factory, and PetroChina International (Singapore) Pte.Ltd. and PetroChina International (Middle East) Co.,Ltd. as Overseas Commodity Storage Facilities for Low Sulfur Fuel Oil (LSFO) Futures

In accordance with applicable provisions of the Delivery Rules of the Shanghai International Energy Exchange and the Group Delivery Rules of the Shanghai International Energy Exchange and relevant business rules, Shanghai International Energy Exchange (“the Exchange”) has approved PetroChina International Co., Ltd. as Group Delivery Center, PetroChina International (Zhejiang) Co., Ltd. as Group Delivery Factory, and PetroChina International (Singapore) Pte.Ltd. and PetroChina International (Middle East) Co.,Ltd. as Overseas Commodity Storage Facilities for Low Sulfur Fuel Oil (LSFO) .


1、The approved storage capacity of the Group Delivery Factory is 100,000 tons, and the active storage capacity is 40,000 tons. The Exchange will closely track and review market developments, and timely adjust the storage capacity for LSFO futures. The Group Delivery Center shall release the benchmark premiums and discounts for overseas take-delivery on the Exchange’s website in accordance with applicable rules.

 

2、As of the date of this Announcement, the Group Delivery Center and Group Delivery Factory and Commodity Storage Facilities as mentioned above shall conduct group delivery services in accordance with all relevant rules. The LSFO commodity shall be loaded out in a month after its relevant factory standard warrants are written off in the Standard Warrant Management System of the Exchange.

 

Attachment: Business Contact Form of the Group Delivery Facilities of the LSFO Futures




For China derivatives market access and more market information please contact sherry_ustc@163.com

Labels:

Comments

Post a Comment

Popular posts from this blog

INE:Approval of Dalian PetroChina International Warehousing & Transportation Co., Ltd. to Increase Active Storage Capacity for Crude Oil Futures

 Shanghai International Energy Exchange has released its Notice on the Approval of Dalian PetroChina International Warehousing & Transportation Co., Ltd. to Increase Active Storage Capacity for Crude Oil Futures as follows: This is to acknowledge our receipt of the application of Dalian PetroChina International Warehousing & Transportation Co., Ltd. to increase the active storage capacity for crude oil futures. In accordance with the Delivery Rules of the Shanghai International Energy Exchange and other applicable rules, we hereby issue the following response based on inspection and review results: We approve the approved storage capacity of Dalian PetroChina International Warehousing & Transportation Co., Ltd. International Oil Storage located on No.31 New Port Nei Hai Nian Road, Dalian Bonded Area, Liaoning Province, to be increased from 1,200,000m3 to 1,800,000 m3, and the active an storage capacity to be increased from 1,200,000m3 to 1,800,000 m3. ...
Post a Comment
Read more

China CSRC Solicits Comments on Draft Trading Server Colocation Rules

  On April 21, 2023, the China Securities Regulatory Commission (“CSRC”) issued the  Administrative Provisions on Trading Server Colocation for the Securities and Futures Markets (Consultation Paper)  (the “Administrative Provisions”). The Administrative Provisions fill a legal gap with respect to securities and futures trading server colocation. It has been common market practice for securities or futures companies to lease cabinets in an exchange or its subsidiary’ data center and sublease it to customers to host their servers, although neither the CSRC nor exchanges have formulated specific regulatory rules on server colocation. The Administrative Provisions are the only administrative departmental rules that directly regulate colocation activities. The promulgation of the Administrative Provisions improves regulations regarding market infrastructures and is conducive to the safe and stable operation of the securities and futures markets. The high-level legal foundatio...
Post a Comment
Read more

A Brief Introduction to the Status of China's Commodity Futures Market

  1. Development of China's Commodity Futures Market   Since 2010, the Chinese futures market had fast expanded with the launch of financial futures and Exchange-traded options. The derivatives market has entered a stage of comprehensive development from commodity futures to financial futures, from futures to options, from exchange-listed to OTC, and from domestic-investors-only to liberalized foreign investor trading.   Currently, China’s domestically listed futures and options cover 7 categories of finance, industrial metals, precious metals, chemicals, energy, black series and agricultural products, with a total of 91 varieties, including 64 commodity futures and 20 commodity futures options. Figure 1 Commodity Futures and Options in China Source: Galaxy Futures 2.    Commodity Futures Market 2.1 Market expansion In terms of time, China's commodity futures market has continued to expand steadily, and trading volume, open interest and trading v...
Post a Comment
Read more