Core Insights - The Shanghai Futures Exchange and Zhejiang International Bulk Commodity Trading Center have jointly launched a high-sulfur 380CST fuel oil "China Zhoushan Fuel Oil Bonded Ship Supply Buyer Quotation" to enhance the integrated pricing system of futures and spot markets [1] - This new quotation is based on the futures price of fuel oil from the Shanghai Futures Exchange, processed daily from international shipowner quotes, providing a unified premium and discount price [1] - The introduction of this quotation enriches the RMB pricing system for bonded marine fuel oil in China, offering significant reference price indicators for the shipping fuel industry [1] - The launch also includes a price window system for low-sulfur fuel oil, ensuring comprehensive coverage of pricing and transaction functions for both high and low sulfur fuel oils [1] - The new high-sulfur buyer quotation and the price window system enhance the efficiency of using RMB premium and discount quotes in the shipping fuel industry, further improving the price discovery and pricing functions of the futures market [1] Future Developments - The Shanghai Futures Exchange and Zhejiang International Bulk Commodity Trading Center will continue to collaborate to support the construction of the oil and gas trading market in the Zhejiang Free Trade Zone and the Yangtze River Delta [2] - This partnership aims to promote the high-quality and sustainable development of the shipping fuel industry and contribute to the integrated high-quality development of the Yangtze River Delta [2]

Core Viewpoint - The Shanghai Futures Exchange and Zhejiang International Bulk Commodity Trading Center have launched a new pricing mechanism for high-sulfur 380CST fuel oil, enhancing the integrated pricing system for the domestic fuel oil market [1][2] Group 1: New Pricing Mechanism - The newly released "China Zhoushan Fuel Oil Bonded Ship Supply Buyer Quote" is based on the Shanghai Futures Exchange's fuel oil futures prices, providing a unified premium/discount price for the market [1] - This pricing mechanism aims to enrich the RMB pricing system for bonded marine fuel oil in China, offering more significant reference price indicators for the marine fuel industry [1] Group 2: Market Development and Future Plans - The Shanghai Futures Exchange and Shanghai International Energy Exchange have been focused on improving the futures market's service capabilities for the real economy, leading to steady development in the fuel oil and low-sulfur fuel oil futures markets [2] - Future collaboration between the Shanghai Futures Exchange and Zhejiang International Bulk Commodity Trading Center will support the construction of the oil and gas trading market in the Yangtze River Delta Free Trade Zone, promoting high-quality and sustainable development in the marine fuel industry [2]

Core Viewpoint - The Shanghai Futures Exchange and Zhejiang International Bulk Commodity Trading Center have launched a new high-sulfur 380CST fuel oil buyer quotation, enhancing the pricing system for the fuel oil market in China [1][2]. Group 1: Market Development - Since 2021, the Shanghai Futures Exchange and Shanghai International Energy Exchange have introduced various quotations based on high and low sulfur fuel oil futures prices, providing significant reference prices for the domestic and international ship fuel market [1]. - The newly released high-sulfur buyer quotation is based on the futures price from the Shanghai Futures Exchange, processed daily to publish a unified premium/discount price, enriching the RMB pricing system for bonded ship fuel oil in China [1]. Group 2: Industry Impact - The initiatives by the Shanghai Futures Exchange and Shanghai International Energy Exchange have improved the futures market's ability to serve the real economy, providing effective hedging tools for domestic and international ship fuel industry clients [2]. - Future collaborations between the Shanghai Futures Exchange and Zhejiang International Bulk Commodity Trading Center aim to support the construction of the oil and gas trading market in the Yangtze River Delta, promoting high-quality and sustainable development of the ship fuel industry [2].