World News
Cleartrade Exchange Adds Fuel Oil Liquidity Provision
Cleartrade Exchange (CLTX) says it is now offering firm, two-way prices on fuel oil during the trading day.
Thanks to new agreements with some of its members, CLTX has extended liquidity provision into bunkers, as well as iron ore and dry freight contracts.
"The liquidity provided through this initiative benefits all members of the exchange," said CLTX's head of products, Richard Heath.
"We've seen traders and brokers who use these products every day not only hitting and lifting prices but also initiating orders inside the spread.
"This adds to the market depth, enabling those organisations who are price takers to execute efficiently whilst having confidence that they are trading at a competitive level."
CLTX, a Singapore-regulated futures market, provides a link to major clearinghouses LCH, SGX, and NOS for commodity traders, investment bankers and brokers, and end-users of commodities and freight.
CLTX has said it has received "a great deal of interest" in three fuel oil single swap contracts that it introduced in early November.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
Popular Now More
-
Apr 30The new hire was previously director of marine fuel marketing at UET Marine in Houston. -
Apr 29The ships are accused of delivering cargo to ports under the control of Yemen's Houthi movement. -
Apr 28Failing to keep track of energy density variations could be costing shipping companies as much as $25/mt in fuel bills, Shipergy CEO Daniel Rose tells Ship & Bunker.