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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
 Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and energy firms manage price fluctuations as stricter global marine fuel rules kick in from 2020, it said.
New International Maritime Organization (IMO) regulations cutting the allowed sulfur content in shipping fuel to 0.5% from 3.5% in a bid to combat air pollution will apply from Jan. 1 next year.
The new contract aims to help the energy and shipping sectors to hedge risk in the relatively new market for 0.5% LSFO delivered marine fuels, or bunkers, the spokesman said.
“Risk management demand for delivered bunker LSFO prices has become more significant due to factors such as the uncertainty in LSFO specifications, and the disconnection between cargo and delivered prices,” said the spokesman.
The cash-settled, U.S. dollar-denominated LSFO futures contract will be for 10 tonnes of fuel oil, and will use the Argus Bunker Index (ABI) Singapore LSFO 0.5% as the settlement price, according to APEX and Argus company websites.
The Argus LSFO 0.5% index represents the price of bunker fuel delivered within 4-12 days of the trade date, for volumes between 500-3,000 tonnes, with viscosity of less than 380-centistoke (cst) and sulfur content below 0.5%.
The LSFO futures contract is APEX’s second fuel oil contract and follows the 380-cst high-sulfur fuel oil (HSFO) contracts it launched in April.
“Since the launch of the HSFO contract, we have been closely monitoring the demand and pain points of the market, and will continuously design new products and improve our services based on market’s feedback,” the spokesman said.
The new contract is expected to help users cope with the change in marine fuel regulation, he added.
Since its launch the APEX 380-cst HSFO contract has seen average daily trading volume of some 23,000 lots, representing 230,000 tonnes of fuel oil, and an average daily open interest of around 3,600 lots, or 36,000 tonnes, the spokesman said.
Source: Reuters
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Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
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- Chamber of Mines of South Africa
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- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
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- The State Trading Corporation of India Ltd
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- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
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- Mintek Dendrill Indonesia
- GMR Energy Limited - India
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- Manunggal Multi Energi - Indonesia
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- Australian Commodity Traders Exchange
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- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
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- MS Steel International - UAE
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- Agrawal Coal Company - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
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- Goldman Sachs - Singapore
- Videocon Industries ltd - India
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- Star Paper Mills Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
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- Bulk Trading Sa - Switzerland
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