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Appendix to Fuel Oil Futures Contract Specifications

I.       Delivery Unit

The delivery unit of a fuel oil futures contract is 10 metric tons. Delivery shall be made in integral multiples of the delivery unit.

II.      Quality Standards

Marine fuel oil of grade RMG 380 (sulfur content level I or II) or higher grades refers to homogeneous hydrocarbon mixtures extracted and made from petroleum, with certain amount of additives permitted for performance and characteristics gains. Fuel oils 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, harm human health, or increase air pollutions.

The standards of premiums and discounts will be separately specified and announced by SHFE.

Fuel Oil Quality Standards

Parameter

RMG 380 Specifications

Test Method

Kinematic viscosity (50 °C, mm2/s)

380.0 max

ASTM D445

Density (15 °C, kg/m3)

991.0 max

ASTM D1298

Calculated Carbon Aromaticity Index (CCAI)

870 max

ISO 8217:2017(E)

Sulfur content (m/m, %)

I

II

3.50 max

0.50 max

ASTM D4294

Flash point (closed cup tester) (°C)

60.0 min

ASTM D93

Hydrogen sulfide (mg/kg)

2.00 max

IP570

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 D189 / 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)

Not higher than level 2

ASTM D4740

III.    Designated Delivery Depots

Designated Delivery Depots will be specified and separately announced by SHFE.

 

 

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