IMAREX volumes hit US$2.5 billion for first quarter 2007

Trading statistics summary - March 2007:

Activity split – March 2007:

CEO's view point: “So far this year we have already done more than double the volume we did in the first quarter of 2006, with US$2.5 billion traded here in the first quarter. This is a continued strong performance especially by our tanker teams in Oslo, Houston and Singapore. I am also very encouraged to see that freight options accounted for nearly a third of volumes in March. ” says IMAREX NOS’ Chief Executive, Tom Even Mortensen.

In Brief:

Several new records were broken by IMAREX in March 2007 as trading volumes hit 45.418 lots (previous record was August 2006 with 42 569) and notional values reached a massive US$ 1.15 Billion (previous high also August 2006 with US$1.08 Billion.)
More tanker transactions were concluded via IMAREX and NOS than at any time in the past. In fact there were more tanker trades done during March than the total number of trades overall for any month in the past.

Significantly, volumes traded in tanker futures, dry bulk futures and freight options combined to more than US$1 billion. March rounds off a quarter in which traded values exceed US$2.5 Billion, up 112% o the same quarter last year.

Two new members signed up during March, making the total number of trading and clearing members at IMAREX and NOS, 164.

Tanker derivatives:

A total of 1321 trades (938 trades in February) were concluded by members and OTC clients, up 162 % on the 503 trades concluded in the same period last year.

A total of 21 367 lots in tanker futures (21.3 million tons) were traded via IMAREX, up 158% compared to the 14 427 lots traded in the same period last year. The notional value of tanker transactions at IMAREX was US$ 399 million (US$256 million in February), up 191 % from US$137 million in the same period last year.

Dry bulk derivatives:

Combined dry bulk volumes cleared at NOS and traded at IMAREX was 10,742 lots (where 1 lot is 1 day of time charter or 1000 metric tons of freight), up 57% from the 4,968 lots traded in March 2006. The notional value of contracts traded was US$370 million, up 360% on the US$78 million traded last March

A total of 134 dry bulk derivatives transactions were concluded in March compared to 178 in February of 2007 and 85 transactions in the same period last year.

Bunker fuel oil derivatives:

The total number of fuel oil derivative transactions in March was 42. Volumes dropped to 417 000 tons (820 000 tons in February), down 29% compared to March 2006. The total notional value of bunker fuel oil contracts traded at IMAREX and NOS in March fell 37% to US$114 million, down from US$ 181 million in the same month last year.

Freight options:

IMAREX is the only market place in the world where cleared freight options are traded, and NOS is the only clearing house which clears freight options. In March a new record was set in the volume of freight options traded via IMAREX and NOS.

In March, a total of 77 IMAREX freight options accounting for 12,892 lots (2 008 in February) with a notional trade value of US$268 million were traded (US$42 million in February). Freight options accounted for 28% of all contracts traded at IMAREX NOS, and 24 % of the notional value traded at the exchange.

New trading and clearing members:

IMAREX and NOS were pleased to welcome two new members in March:

• Waterfront Shipping AS
• Kristian Jebsens Rederi AS

The total number of trading and clearing members at IMAREX and NOS is: 164

For more information, please contact:

• Tom Even Mortensen, Chief Executive Officer Tel: +47 9822 9650
• Mikal Bøe, Information Services Director Tel: +65 9474 2822

See attached full report:

• IMAREX VOLUMES MARCH 2007

  Imarex_Stats_Mar_2007_MB_Final.pdf 118.16 kB