Ocean Group Jiafu: Using fuel hedging to control the rising cost of oil prices

"Financial Network reporter Zhang Qian" April 13 Boao Forum before the opening day, China Ocean Group Chairman Jiafu (Micro-blog column) In the financial network reporter exclusive interview, said that the current international oil prices rose too fast, which has become the first cost of China ocean business.　　He said that in order to deal with the high price of crude oil to the business of the severe cost pressure, COSCO has been in the market to take fuel hedging futures operations, in order to balance the pressure on crude oil prices. But he also said to the financial network reporters, although Cosco adopted a hedging approach, but still cannot withstand the rise in oil prices, he said, as a shipping enterprise, the cost of controlling the enterprise is the first, and fuel costs is the largest one of the operating costs, " We will control the price of oil costs to specific points such as the small market.　　However, Jiafu declined to say that Cosco has accounted for the percentage of its annual oil consumption in terms of fuel hedging. As of April 12, the North Sea Brent crude oil for three days has been in the vicinity of 120 U.S. dollars hovering, high oil prices have brought many domestic oil with a lot of cost pressure, last month, Eastern Airlines Dong Luo zhuping in the "financial network" interview said, China Eastern's earlier oil hedging business is due to expire in the middle of the year, he said, saying the company will study whether the next step is to restart the fuel hedging business. According to the "financial network" reporters from the futures industry learned that the news shows that there are still several airlines have been doing fuel hedging business, and are the implementation of the rising channel operating methods.