Imarex and NOS sign 10 new members
[First published: Thursday 02 March 2006 8:56:05 am]
Oslo, 2 March 2006
International Maritime Exchange ASA (OSLO BØRS: IMAREX) and NOS ASA are proud to welcome 10 new trading and clearing members to the freight derivatives market during the first 8 weeks of 2006 – a 9% increase in total memberships so far this year.
"These new members include some of the biggest names in shipping, trading and banking and are all highly significant for the freight market – we’re flattered that they choose to come to us for trading and clearing of their freight business," says Tom Even Mortensen, Managing Director of Imarex.
Imarex which is the world’s only regulated market place for maritime futures and options contracts, already posted 49% membership growth in 2005.
Mortensen adds: "Our total direct trading and clearing memberships now stand at 122 – which represents the majority of all freight derivatives principals in the market worldwide."
The new members represent are active in tankers, dry bulk and the bunker markets and include some of the most illustrious names in the business. Recent members include:
- ABN AMRO Bank N.V.
- Beltest Shipping Company Ltd
- Bergesen Worldwide Gas ASA
- Cargoship Maritime Corporation
- Daeyang Shipping Co Ltd
- FR8 Ltd
- Glencore Grain B.V.
- Industrial Carriers Inc.
- Koch Carbon (UK) Ltd
- Maritime 24
- Mercator Lines (Singapore) Pte Ltd
- Merrill Lynch Commodities (Europe) Limited
- Mitsui Oil (Asia) Ltd
- Montan Capital Gmbh
- Prime Marine Corporation
- Sempra Energy Europe Ltd
- T.K.B. Shipping A/S
- Tongyang Futures Trading Co.,Ltd.
- Western Baltic Inc
- Woori Futures Co Ltd
The launch of the Imarex bunker market has also triggered a spate of new membership applications to trade at Imarex.
"There’s been enormous interest from members in trading bunkers, and we have been very busy enabling them to trade bunker fuel oil derivatives on the Imarex screen – we are also coping with a fast growing list of new principals coming to the market," says Mortensen.
With additional members, come increased transaction volumes at Imarex and open interest at NOS.
"January saw some of the highest trading values ever at Imarex, and with decent volumes in February and March, we are on track to break a new record in the value of contracts traded in any Q1 so far," Mortensen concludes.
For more information, please contact:
- Tom Even Mortensen, Managing Director - Tel: +47 2389 4222
- Mikal Bøe, Director of Information Services - Tel: +47 2389 4227
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