August statistics: all time high for IMAREX-NOS
[First published: Tuesday 05 September 2006 2:13:02 am]Oslo: 4 September 2006, IMAREX NOS ASA (OSE:IMAREX and IMAREX N) was formed 1 September 2006, from the merger of the ownerships of International Maritime Exchange ASA and NOS ASA into a common stocklisted holding company. IMAREX NOS has three wholly owned subsidiaries; International Maritime Exchange ASA (IMAREX - the market place), NOS ASA (NOS - the clearing house) and M-Tre Holding AS (M-Tre – the power derivatives brokers). This report covers the trading and clearing volumes for the maritime derivatives market. The group operates from offices in Oslo, Stavanger, Singapore and Houston.
August highlights:
- All time high nominal value of contracts traded in a single month
- Over US$ 1 BILLION transacted via IMAREX in August 2006, up 290% on August 2005
- 1 223 transactions concluded, up 104%
- 2 NEW records in dry bulk: All time high nominal value of contracts traded US$503.8 million and number of transactions up 347% to 165
- NEW record number of transactions: 983 tanker transactions concluded - up 75%.
- Second highest nominal value of tanker trades at US$407.7 million - up 95%.
- Strong development of freight options - 24 contracts traded at US$37.5 million.
- 2 new trading and clearing members including ConocoPhillips
Director's comment:
"August was the month when IMAREX broke almost all previous records. With more than 1200 contracts worth 1.1 billion dollars traded on our exchange, combined with the strong July market we reported last month, we're pretty confident that our third quarter will be excellent. Now that we have concluded the merger with NOS, and set up the new organisation – we're firing on all cylinders," says Tom Even Mortensen, Managing Director of IMAREX NOS ASA
IMAREX and NOS continue to prove the solidity of the freight trading and clearing model, with record volumes cleared at NOS during August. Open Interest at NOS grew to 68 200 lots with a nominal value of more than US$1.5 billion.
Trading and membership statistics – August 2006
A total of 1 223 trades were done via IMAREX during August 2006, up 104% on the same period in 2005. The nominal value of all trades done via IMAREX in August was USD 1.088 million (1.08 billion), an increase of 290% compared to August 2005. The volumes traded were 42 569 lots (1 lot= 1 000 tonnes or 1 day of time charter) up 144% compared to the same period last year.
Tanker derivatives:
IMAREX handled a total of 983 tanker futures transactions during August, a 75% increase on August 2005.
A total of 21 320 lots in tanker futures (21.3 million tonnes) were traded via IMAREX, up 53% compared to the 13 290 lots traded in the same period last year. The nominal value of tanker transactions at IMAREX was USD 407.7 million, up 95% from USD 210 million in the same period last year and up 43% compared to July this year.
In addition to the futures volumes traded in August, a total of 24 Imarex freight options accounted for 656 lots with a nominal trade value of USD 37.5 million.
Dry bulk derivatives:
Total dry bulk volumes cleared at NOS and traded at IMAREX was 20 157 lots (where 1 lot is 1 day of time charter or 1000 metric tonnes of freight). The nominal value of contracts traded was US$503.8 million, a NEW all time high record for IMAREX and NOS.
A total of 165 dry bulk derivatives transactions in August compares to 102 in July and 38 in the same period last year.
Bunker fuel oil derivatives:
The total number of fuel oil derivative transactions in August was 51, the same as July
A total of 436 000 tonnes were traded in August, up 28% compared to 341 000 tonnes in July. The total nominal value of bunker fuel oil contracts traded at IMAREX in August rose 22% to USD 138.9 million, up from USD 113.4 million in July.
New trading and clearing members:
IMAREX and NOS are proud to welcome the following new members to the market:
- ConocoPhillips Company
- Westport Petroleum Inc
The total number of trading and clearing members at IMAREX and NOS is: 140
Please see the attached report for full details:
For more information please contact:
- Tom Even Mortensen, Managing Director Tel: +47 2389 4222
- Arild Jæger, Chief Financial Officer Tel: +47 2389 4211
Download PDF version of this page