IMAREX: US$ 1.3 Billion traded in August – up 19%

PLEASE NOTE: August trading statistics include additions from certain trades which were concluded during July but were not reported because of a technical error. A summary of these trades can be found at the end of this report.

Trading statistics:

CEO's view point:

“August became yet another month with more than US$1 billion traded via IMAREX and NOS. The strong dry bulk market is helping to keep the notional values high, but we see a strong underlying level of activity in all our markets including, tankers, dry bulk, fuel and options, ” says CEO of the IMAREX NOS Group, Herman Michelet

Proportional statistics:

Tanker derivatives:

A total of 1 087 trades (1 055 trades in July) were concluded by members and OTC clients, up 11% on the same period last year.

A total of 15 640 lots in tanker futures (15.6 million tons) were traded via IMAREX, down 27% compared to the 21 320 lots traded in the same period last year. The notional value of tanker transactions at IMAREX was US$ 276 million (US$285 million in July), down 62% from US$408 million traded in the same period last year.

Tanker futures accounted for 45% of volume traded at IMAREX NOS, and 21% of the notional value traded via IMAREX and NOS.

Dry bulk derivatives:

Combined dry bulk volumes cleared at NOS and traded at IMAREX was 15 739 lots (where 1 lot is 1 day of time charter or 1000 metric tons of freight), down 22% from the 20 157 lots traded in August 2006. The notional value of contracts traded was US$751 million, up 49% compared to the same period last year.

A total of 318 dry bulk derivatives transactions in August compares to 165 transactions in the same period last year.

Dry bulk futures accounted for 45% of volume traded at IMAREX NOS, and 58% of the notional value traded via IMAREX and NOS.

Bunker fuel oil derivatives:

The total number of fuel oil derivative transactions in August was 46. Volumes traded were 577.000 tons, up 32% compared to August 2006. The total notional value of bunker fuel oil contracts traded at IMAREX and NOS in August rose 22% to US$169 million, up from US$139 million in the same month last year.

Bunker fuel oil swaps accounted for 2% of volume traded at IMAREX NOS, and 13% of the notional value traded via IMAREX and NOS.

Freight options:

In August, a total of 41 IMAREX freight options (56 in July) accounting for 2 944 lots (3 474 in July) with a notional trade value of US$98 million were traded (US$132 million in July). Freight options accounted for 8% of all contracts traded at IMAREX NOS, and 8% of the notional value traded via IMAREX and NOS.

Clearing and Open Interest

Open Interest for Dry bulk and Tanker future contracts rose 3% to 81 090 lots (from 78 591 in July). Open interest for Freight Options fell 3% to 18 659 lots, down from 19 312 lots last month.

(Please note: The Open Interest is the total number of lots which remain to be liquidated by either close-out-trades or delivery at NOS. For more information, please contact NOS on the numbers below. Please note: 1 lot = 1000 metric tons for all tanker and bunker fuel oil contracts as well as C4 and C7 contracts. For P2A, P3A, SM5TC, PM4TC and CS4TC , 1 lot=1 day of time charter. )

New trading and clearing members:

Three new members were added during August, making the total number of clearing and trading members 175

For more information, please contact:

• Arild Jæger, CFO Tel: +47 9717 9688 arj@imarex.com
• Mikal Bøe, Director Tel: +65 9474 2822 mb@imarex.com

Please download the full report below:

• IMAREX NOS August 2007 trading statistics

  IMAREX_AUG07_MB_FINAL.pdf 156.04 kB

PLEASE NOTE: July trading statistics include additions from certain trades which were concluded during July but were not reported because of a technical error. A summary of these trades can be found below.