IMAREX screen trading exceeds $10 billion in 2007

Of a total $13 billion in freight futures and options traded via IMAREX and NOS Clearing in 2007, over 75% were traded on the IMAREX screen. The remainder was traded via third party FFA brokers and cleared at NOS on an OTC cleared basis. NOS Clearing is the original and dominant clearing house for freight and part of the IMAREX Group. An additional $2 billion in fuel oil swaps were also traded on the screen.

Electronic screen trading of FFAs and Freight Options is one of the hottest topics for discussion in the freight derivatives market going into 2008. Several companies operating in the industry have developed electronic screen systems, but only the IMAREX screen has stood the test of time, and is attracting serious volumes of trades as a result.

"IMAREX was set up to be the central exchange for freight derivatives, and as a result we have invested large amounts of money, technology and human resources into making the screen work," says CEO and Founder Herman Michelet. "You can see it is working well!"

The tanker FFA market has already made its choice and rallied behind the IMAREX screen. An estimated 60% of all tanker FFA transactions are now traded on the IMAREX screen.

In the dry bulk sector of the market much debate is now dedicated to how it can emulate that success and create a central market screen for dry bulk FFAs which is acceptable to all participants.

A central screen for dry bulk FFAs would have to take into account the interests of traders and brokers alike. IMAREX is rapidly developing new features of the IMAREX dry bulk screen geared to benefit all serious market participants.

"We have proved to the market that our screen system works and is popular," says Michelet, and adds: "Participants in the FFA market should ideally come to a consensus on using the IMAREX screen to access clearing and to provide price transparency to all participants - we are open to every possible discussion with all market players on how we get there - this is what we set out to do – come and talk to us!"

The IMAREX screen is off to a flying start in 2008 with 5 million tons on tanker FFAs and 2000 days of dry bulk time charter FFAs traded electronically during the first 5 days of the year.

For more information, please contact:

• Herman Michelet tel: +47 2389 4223 email: hm@imarex.com
• Gunnar Lindqvist tel: +47 2389 4217 email: gl@imarex.com
• Mikal Boe tel: +65 6438 8097 email: mb@imarex.com
  

The IMAREX trading screen comes with optional access to the IMAREX CurveDirector and Tanker Traffic – both widely used analysis tools for the FFA industry.

You can learn more about the screen at: http://www.imarex.com/information_products/imarex_trading_screen