LSFO futures are traded on the basis of net price, bonded delivery, and 

RMB-denomination on the Shanghai International Energy Exchange 

(INE or the “Exchange”). Price is net of consumption tax, VAT, and 

custom duty.

The price of imported marine fuel in China is mainly based on the 

average of the price assessments of Singapore fuel oil/diesel (MOPS). 

The cost of imported bonded LSFO is generally calculated as follows:

Cost of imported bonded LSFO = (MOPS + discounts) × exchange rate 

+ other expenses

The exchange rate is based on the daily published rate;

Other expenses include: port/dock charges, ISPS charge, freight 

forwarder charge, contribution to Oil Pollution Compensation Fund, 

terminal handling charge, storage fees, commodity inspection fees, etc.

If bonded LSFO is transported from a bonded zone into the territory of 

China, its cost will be as follows:

[(MOPS+ discounts) × exchange rate × (1 + custom duty rate) + 

consumption tax] × (1 + VAT rate) + other expenses

VAT: 13%

Custom duty: 1%

Consumption tax: ?1.2 per liter for fuel oil, or ?1,218 per metric 

ton(current as of May 2020).

LSFO futures are traded on the basis of international platform, net 

pricing, bonded physical delivery, and RMB denomination.

声明：本资料仅用于投资者教育，不构成任何投资建议。我们力求本资料信息准确可靠，但对这些信息的准确性、完整性或及时性不作保证，亦不对因使用该等信息而引发的损失承担任何责任，投资者不应以该等信息取代其独立判断或仅根据该等信息做出决策。基金有风险，投资须谨慎。