“舟山价格”何以锚定国际船燃市场新坐标？

Core Viewpoint - The "Zhoushan Price" has emerged as a significant pricing mechanism for ship fuel in China, reducing reliance on international pricing and enhancing the local shipping industry's development [2][3][4]. Group 1: Overview of Zhoushan Price - Zhoushan, located at the eastern edge of Hangzhou Bay, is a crucial shipping hub and the largest ship refueling port in China, with an annual refueling volume exceeding 7 million tons [2]. - The "Zhoushan Price" was established on June 21, 2021, based on the Shanghai Futures Exchange's low-sulfur fuel oil futures price, marking the first domestic spot pricing mechanism using a futures price as a basis [2][3]. - The pricing system has evolved to include various components such as buyer quotes, storage prices, and weather indices, creating a comprehensive index system that supports the ship fuel supply chain [2][3]. Group 2: Impact on Market Transparency and Efficiency - The introduction of the "Zhoushan Price" has significantly improved market transparency and stability, enhancing operational efficiency for enterprises and expanding the application of fuel oil futures prices in the spot market [3][4]. - Over 90% of the participants in the low-sulfur seller quote are now involved in the Zhoushan ship fuel market, indicating its widespread acceptance and influence [4]. Group 3: Role of Zhejiang Dazong - Zhejiang Dazong, established in 2015, serves as a major platform for bulk commodity trading and has been instrumental in promoting the integrated oil and gas trading market in the Yangtze River Delta [5][6]. - The collaboration among various stakeholders has facilitated the integration of futures and spot markets, enhancing the overall trading efficiency and service delivery to the real economy [6][8]. Group 4: Future Developments and Innovations - The ongoing exploration of integrated pricing mechanisms extends beyond the "Zhoushan Price," with initiatives such as the establishment of a national bulk commodity registration center and the launch of various trading models [9]. - The Zhoushan Price is expected to further break down international pricing barriers and elevate China's ship fuel industry within the global value chain, contributing to higher quality growth [9].