The first physical VLSFO delivery outside China carried out against the Shanghai International Exchange's new bunker futures has been completed, according to price reporting agency S&P Global Platts.
The delivery was made on January 19-21 in Singapore, Platts reported Friday, citing comments from the exchange.
Three overseas companies -- Trafigura, Freepoint Commidities Singapore and China-Base Resource Singapore -- participated in the exchange's January VLSFO contract, with a total of 3,500 mt being delivered.
The move to allow delivery outside China for the Shanghai exchange's VLSFO contract is further evidence of a growing Chinese role in the global bunker markets.
Chinese VLSFO exports hit a record high last month, and its total for 2020 reached 15.45 million mt.
