FUTURES & SWAPS > FUEL OIL
Fuel Oil
Fuel Oil is basically used as a fuel for power stations, industrial and utility boilers. It is also used as bunker fuel for marine vessels. The different fuel oil grades are classified according to their viscosity and sulphur content.
Trading Fuel Oil
Ginga provides Over-The-Counter (OTC) broking services for Fuel Oil. The markets covered include Japan, Korea, China, Singapore, Middle East, Europe and the US.
| PRODUCT | 180cst Fuel Oil | A cash settled contract which is based on the Platts daily assessment price for 180cst Singapore Fuel Oil |
| Currency | USD | – |
| Contract Period | Months | 4/5 consecutive months starting with the current month, new contract month to be listed mid-month. |
| Quarters | 5 consecutive quarters starting with current quarter. | |
| Years | 4 consecutive years starting with the current year. | |
| Minimum Price Fluctuation | $0.01 per metric tonne | – |
| Delivery Period | Month | First Index Day of the month to last Index Day of the month. |
| Quarter | First Index Day of the Quarter to last Index Day of the Quarter. A Quarter Contract will be split equally into 3 Month Contracts on the Trading Day and settled as Month Contracts. | |
| Year | First Index Day of the Year to last Index Day of the Year. A Year Contract is split equally into 12 Month Contracts on the Trading day and settled as Month Contracts. | |
| Final Settlement Day | Last business day of contract month | – |
| Final Settlement Price | Cash settlement using the arithmetic average of Platts daily spot assessments in the contract month, rounded to three decimal places | – |
| PRODUCT | 380cst Fuel Oil (mainly as 180/380 viscosity spread) |
A cash settled contract which is based on the Platts daily assessment price for 180cst Singapore Fuel Oil |
| Currency | USD | – |
| Contract Period | Months | 4/5 consecutive months starting with the current month, new contract month to be listed mid-month. |
| Quarters | 5 consecutive quarters starting with current quarter. | |
| Years | 4 consecutive years starting with the current year. | |
| Minimum Price Fluctuation | $0.01 per metric tonne | – |
| Delivery Period | Month | First Index Day of the month to last Index Day of the month. |
| Quarter | First Index Day of the Quarter to last Index Day of the Quarter. A Quarter Contract will be split equally into 3 Month Contracts on the Trading Day and settled as Month Contracts. | |
| Year | First Index Day of the Year to last Index Day of the Year. A Year Contract is split equally into 12 Month Contracts on the Trading day and settled as Month Contracts. | |
| Final Settlement Day | Last business day of contract month | – |
| Final Settlement Price | Cash settlement using the arithmetic average of Platts daily spot assessments in the contract month, rounded to three decimal places | – |
| Contract Size | 1,000 to 5,000 Metric Tonnes per Contract | – |
| Categories of Trading | • Outright • Inter-month Spreads • Inter-product Spreads (Gas Oil/Fuel Oil spread) • Crack spreads (Fuel Oil/Dubai Spread) • East-west Spreads |
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| Offerings | • Asian and European Market Access • Clearport / ICEBlock / AsiaClear |
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