Asia/Pacific News
Shanghai Exchange Completes First Overseas Physical VLSFO Delivery
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.
