{"id":7179,"date":"2020-11-11T18:17:45","date_gmt":"2020-11-11T10:17:45","guid":{"rendered":"https:\/\/orientfutures.sbwd.website\/?p=7179"},"modified":"2026-02-03T16:08:23","modified_gmt":"2026-02-03T08:08:23","slug":"ine-low-sulphur-fuel-oil-futures","status":"publish","type":"post","link":"https:\/\/of.sbwd.website\/zh\/glossary\/ine-low-sulphur-fuel-oil-futures\/","title":{"rendered":"China Futures: INE Low Sulphur Fuel Oil (LSFO) Futures"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7179\" class=\"elementor elementor-7179\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-504306 e-flex e-con-boxed e-con e-parent\" data-id=\"504306\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b3d3141 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"b3d3141\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">China Futures: INE Low Sulphur Fuel Oil (LSFO) Futures\n\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-676aff5 elementor-widget elementor-widget-text-editor\" data-id=\"676aff5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Did you know that 90% of global trade is fullfilled via sea logistics? This makes Marine fuel a key component affecting world trade. The Maritime industry used to rely on high sulphur fuel oil, but since 2020, the\u00a0<a href=\"https:\/\/www.imo.org\/en\/MediaCentre\/HotTopics\/Pages\/Sulphur-2020.aspx\" target=\"_blank\" rel=\"noopener\">International Maritime Organization (IMO) 2020 policy,<\/a>\u00a0had been a game changer in the type of fuel used. Read more:\u00a0<\/strong><\/p><p>\u00a0<\/p><p><strong>What is Low Sulphur Fuel Oil (LSFO)?<\/strong><\/p><ul><li>LSFO is a type of refined oil principally used in oil refining and chemical, transport, construction, metallurgy industries and Marine fuel. By sulfur content, marine fuel can be classified into grades I, II, and III; corresponding to a maximum sulfur content of 3.50%, 0.50%, and 0.10% m\/m, respectively.<\/li><li>Important as a Marine fuel (which fuels 90% of global trade).<\/li><li>Since 2020, LSFO has become a\u00a0<u>mainstream\u00a0<\/u>product for Marine fuel; since the International Maritime Organization (IMO) requires a sulfur cap of 0.50% m\/m on fuel oil used by ships worldwide (IMO2020). If you are interested to read more about the IMO 2020 policy,\u00a0<a href=\"https:\/\/www.imo.org\/en\/MediaCentre\/HotTopics\/Pages\/Sulphur-2020.aspx\" target=\"_blank\" rel=\"noopener\">click here<\/a>.<\/li><\/ul><p><strong>LSFO Demand and Supply<\/strong><\/p><ul><li>Global annual production is about 500 million metric tons.<\/li><li>Global consumption recent years reached 280 million metric tons; with Asia-Pacific region accounting for 45% of the global total.<\/li><li>Fluctuation of international crude oil price depends largely on factors such as demand by shipping market, Supply and demand of the Singapore market, Exchange rate, environmental policies, political situations. Before there is an active and effective benchmark price for low sulfur fuel oil, the price for 10 ppm diesel will be used as the benchmark.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5e74e5 uael-img-carousel-arrow-inside uael-ins-normal elementor-widget elementor-widget-uael-image-gallery\" data-id=\"c5e74e5\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;slides_to_show&quot;:1,&quot;slides_to_show_tablet&quot;:1,&quot;slides_to_show_mobile&quot;:1,&quot;slides_to_scroll_laptop&quot;:1,&quot;slides_to_scroll_tablet_extra&quot;:1,&quot;column_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:0,&quot;sizes&quot;:[]},&quot;column_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:0,&quot;sizes&quot;:[]},&quot;slides_to_scroll&quot;:1,&quot;slides_to_scroll_tablet&quot;:1,&quot;slides_to_scroll_mobile&quot;:1,&quot;column_gap_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;column_gap_tablet_extra&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;column_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"uael-image-gallery.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"uael-gallery-parent uael-caption- uael-gallery-unjustified\"><div data-image_carousel=\"{&quot;slidesToShow&quot;:1,&quot;slidesToScroll&quot;:1,&quot;autoplaySpeed&quot;:3000,&quot;autoplay&quot;:true,&quot;infinite&quot;:true,&quot;pauseOnHover&quot;:false,&quot;speed&quot;:1000,&quot;arrows&quot;:true,&quot;dots&quot;:false,&quot;rtl&quot;:false,&quot;responsive&quot;:[{&quot;breakpoint&quot;:1024,&quot;settings&quot;:{&quot;slidesToShow&quot;:1,&quot;slidesToScroll&quot;:1}},{&quot;breakpoint&quot;:767,&quot;settings&quot;:{&quot;slidesToShow&quot;:1,&quot;slidesToScroll&quot;:1}}]}\" class=\"uael-img-gallery-wrap uael-img-carousel-wrap uael-nav-arrows\" data-filter-default=\"All\"><div class=\"uael-grid-item  uael-img-gallery-item-1\"><div class=\"uael-grid-item-content\"><figure class=\"uael-grid-img uael-grid-gallery-img uael-ins-hover elementor-clickable\"><div class=\"uael-grid-img-thumbnail uael-ins-target\"><img fetchpriority=\"high\" decoding=\"async\" width=\"403\" height=\"265\" src=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-1.png\" class=\"attachment-full size-full wp-image-7186\" alt=\"Exporters of fuel oil to China in 2019\" srcset=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-1.png 403w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-1-300x197.png 300w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-1-18x12.png 18w\" sizes=\"(max-width: 403px) 100vw, 403px\" \/><\/div><div class=\"uael-grid-img-overlay\"><\/div><\/figure><\/div><\/div><div class=\"uael-grid-item  uael-img-gallery-item-2\"><div class=\"uael-grid-item-content\"><figure class=\"uael-grid-img uael-grid-gallery-img uael-ins-hover elementor-clickable\"><div class=\"uael-grid-img-thumbnail uael-ins-target\"><img decoding=\"async\" width=\"385\" height=\"265\" src=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-2.png\" class=\"attachment-full size-full wp-image-7187\" alt=\"Consumption structure of marine fuel in China (2006-2019)\" srcset=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-2.png 385w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-2-300x206.png 300w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-2-18x12.png 18w\" sizes=\"(max-width: 385px) 100vw, 385px\" \/><\/div><div class=\"uael-grid-img-overlay\"><\/div><\/figure><\/div><\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb1b34b elementor-widget elementor-widget-text-editor\" data-id=\"bb1b34b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Marine Fuel oil is one of the most market-driven petroleum and petroleum products in China. China\u2019s marine fuel market can be divided into the domestic-voyage segment and the bonded fuel segment. Supply for the former segment mainly comes from domestic refineries and blending companies, while that for the latter comes almost exclusively from import.<strong><br \/><br \/><\/strong><\/p><p><strong>Potential of the INE (Shanghai International Energy Exchange) LSFO Futures Contract:\u00a0<\/strong><\/p><ul><li>This contract features marine fuel meeting stricter international emissions rules and the second oil contract after Shanghai crude &#8211; open to foreign investment.<\/li><li>With few competitors, the contract potentially can\u00a0grow into an Asian benchmark for shipping fuel, especially as Chinese refineries are equipped to produce the low-sulfur fuel.<\/li><li>This contract provides\u00a0the market a more effective tool to hedge risks as the global shipping industry transforms from high to low-sulphur fuel.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6c932d6 elementor-widget elementor-widget-image\" data-id=\"6c932d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-3.jpg\" class=\"attachment-full size-full wp-image-7193\" alt=\"INE LSFO Contract\" srcset=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-3.jpg 1280w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-3-300x169.jpg 300w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-3-1024x576.jpg 1024w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-3-768x432.jpg 768w, https:\/\/of.sbwd.website\/wp-content\/uploads\/2020\/11\/OF-china-futures-ine-low-sulphur-fuel-oil-lsfo-futures-image-3-18x10.jpg 18w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d625106 elementor-widget elementor-widget-text-editor\" data-id=\"d625106\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Do not miss out on the opportunities in the liberalisation of China\u2019s Capital Markets. Contact us today.<\/p><p>To learn how to participate in the INE LSFO Futures:\u00a0<a href=\"\/china-market-access\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a><\/p><p>For Contract Specifications\u00a0of the INE LSFO:\u00a0<a href=\"http:\/\/www.ine.cn\/\" target=\"_blank\" rel=\"noopener\">Click here\u00a0<\/a><\/p><p>Orient Futures Singapore is an Overseas Intermediary of INE (<u><a href=\"http:\/\/www.ine.cn\/\" target=\"_blank\" rel=\"noopener\">Shanghai International Energy Exchange<\/a><\/u>) which means our clients get direct access to the China markets.\u00a0Partner with Orient Futures Singapore and let us help you navigate into China\u2019s Capital Markets.Do not miss out on the opportunities in the liberalisation of China\u2019s Capital Markets.\u00a0<a href=\"https:\/\/of.sbwd.website\/contact\" target=\"_blank\" rel=\"noopener\">Contact us today<\/a>.<\/p><p>Sources and PC:<\/p><ol><li><a href=\"http:\/\/www.ine.cn\/\" target=\"_blank\" rel=\"noopener\">Shanghai International Energy Exchange<\/a><\/li><li>INE Low Sulphur Fuel Oil Futures Handbook for Trading 2020<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>Did you know that 90% of global trade is fullfilled via sea logistics? This makes Marine fuel a key component affecting world trade. The Maritime industry used to rely on high sulphur fuel oil, but since 2020, the International Maritime Organization (IMO) 2020 policy, had been a game changer in the type of fuel used. Read more: <\/p>","protected":false},"author":3,"featured_media":7185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"enabled","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","_links_to":"","_links_to_target":""},"categories":[35],"tags":[],"post_language":[],"class_list":["post-7179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>China Futures: INE Low Sulphur Fuel Oil (LSFO) Futures - Orient Futures Singapore<\/title>\n<meta name=\"description\" content=\"Did you know that 90% of global trade is fullfilled via sea logistics? 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