FX is the hidden lever on transshipment tenor and delivered cost. USD/JPY has retreated from ~158 in early September to 153.57, and USD/KRW from ~1357 to 1341.8; the synchronized yen and won strength directly lowers USD-quoted delivered cost for crude, fuel oil and rubber, benefiting routes that hinge on Japanese and Korean refineries and port nodes.

The RMB has been restrained, with USD/CNY steady at 6.708 and a narrowing band, making RMB-settled offshore transshipment more predictable on the rate side; EUR/USD at 1.1638 marginally improves the value of euro-priced supply versus dollar supply.

From the operator's seat, a weak-dollar window favours pre-hedging and keeping procurement tenor mismatched with receipt dates inside a narrow band; when the dollar rebounds, early-locked cheap supply releases FX gains. Avoid taking a directional FX bet now; rely on natural hedging (matching receivable/payable currencies).

Source: SNSUC platform public/data/market.json intraday FX snapshot (updated 2026-09-10 14:46).