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            Home» Products » LSFO » Contract » Appendixes

            Appendixes
            • Appendix to Low Sulfur Fuel Oil Futures Contract of the Shanghai International Energy Exchange

             

            I. Delivery Unit
            The delivery unit of low sulfur fuel oil futures contract is 10 metric tons. The delivery quantity shall be integral multiple(s) of the delivery unit.
            II. Quality Standards
            Low sulfur marine fuel oil to be delivered shall meet the quality standards for low sulfur marine fuel oil set by the Shanghai International Energy Exchange (the “Exchange”). “Low sulfur marine fuel oil” refers to homogeneous hydrocarbon mixtures extracted from petroleum, with certain amount of additives permitted for performance and characteristics gains. Low sulfur marine fuel oil shall not contain any inorganic acid and used lubricating oil, nor any substance that may cause abnormal operations of ships, nor any artificially added additive or chemical waste that may endanger ship safety, adversely affect machine’s performance, or be harmful or increase air pollutions.
            Specific rates of premium and discount will be separately prescribed and announced by the Exchange.
             
            Quality Standards of Low Sulfur Fuel Oil of the Shanghai International Energy Exchange

            Properties
            Limit
            Test Method
            Kinematic viscosity (50 °C, mm2/s)
            380.0 max
            100.00 min
            ASTM D445
            Density (15 °C, kg/m3)
            991.0 max
            930.0 min
            ASTM D1298
            Calculated Carbon Aromaticity Index (CCAI)
            870 max
            ISO 8217:2017(E)
            Sulfur content (m/m, %)
            0.50 max
            ASTM D4294
            Flash point (closed cup) (°C)
            60.0 min
            ASTM D93
            Hydrogen sulfide (mg/kg)
            2.00 max
            IP 570
            Acid value (mg KOH/g)
            2.5 max
            ASTM D664
            Total sediment (thermal aging test) (m/m, %)
            0.10 max
            ASTM D4870
            Carbon residue (m/m, %)
            18.00 max
            ASTM D4530
            Pour point (°C)
            30 max
            ASTM D97
            Moisture (V/V, %)
            0.50 max
            ASTM D95
            Ash content (m/m, %)
            0.100 max
            ASTM D482
            Vanadium (mg/kg)
            350 max
            IP 501
            Sodium (mg/kg)
            100 max
            IP 501
            Aluminum + Silicon (mg/kg)
            60 max
            IP 501
            Net calorific value (cal/g)
            9,500 min
            ASTM D240
            Used lubricating oil (ULO) (mg/kg)
            Calcium and Zinc
            Calcium and phosphorus
            Fuel oil should be free of ULO, which is deemed to be present if any of the following conditions is met:
            Ca > 30 and Zn > 15
            or
            Ca > 30 and P > 15
            IP 501
            Compatibility (level)
            No higher than spot No. 2
            ASTM D4740
            Cleanness (level)
            No higher than spot No. 2
            ASTM D4740
            Styrene (mg/kg)
            20 max
            GB/T 6041
            Phenol (mg/kg)
            10 max
            GB/T 6041

            III. Designated Delivery Storage Facilities
            Designated Delivery Storage Facilities will be separately announced by the Exchange.
             

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