Record $3.4 Billion traded in second quarter – up over 200%

Trading statistics:

CEO's view point:

“We have now had record volumes two quarters in a row, and I feel like we are just getting started. In June our members and cooperating brokers traded over 33 000 freight and fuel oil contracts worth close to US1.3 Billion. In particular I am proud of our dry bulk team, which accounted for US$ 776 million worth of business in June,” says IMAREX NOS’ Chief Executive, Tom Even Mortensen.

Proportional statistics:

Tanker derivatives:

A total of 818 trades (1 149 trades in May) were concluded by members and OTC clients, up 65% on the same period last year.

A total of 12 030 lots in tanker futures (12 million tons) were traded via IMAREX, up 48% compared to the 8 106 lots traded in the same period last year. The notional value of tanker transactions at IMAREX was US$219 million (US$361 million in May), up 47% from US$149 million traded in the same period last year.

Tanker futures accounted for 36% of all contracts traded at IMAREX NOS, and 17% of the notional value traded at the exchange.

Dry bulk derivatives:

Combined dry bulk volumes cleared at NOS and traded at IMAREX was 17 983 lots (where 1 lot is 1 day of time charter or 1000 metric tons of freight), up 129% from the 8 319 lots traded in June 2006. The notional value of contracts traded was US$776 million, up 376% compared the same period last year.

A total of 234 dry bulk derivatives transactions in June compares to 102 transactions in the same period last year.

Dry bulk futures accounted for 54% of all contracts traded at IMAREX NOS, and 59% of the notional value traded at the exchange.

Bunker fuel oil derivatives:

The total number of fuel oil derivative transactions in June was 40. Volumes traded were 586 000 tons, up 73% compared to June 2006. The total notional value of bunker fuel oil contracts traded at IMAREX and NOS in June rose 96% to US$200 million, up from US$102 million in the same month last year.

Bunker fuel oil swaps accounted for 2% of all contracts traded at IMAREX NOS, and 15% of the notional value traded at the exchange.

Freight options:

In June, a total of 50 IMAREX freight options (57 in May) accounting for 2 885 lots (3 530 in May) with a notional trade value of US$110 million were traded (US$129 million in May). Freight options accounted for 9% of all contracts traded at IMAREX NOS, and 8% of the notional value traded at the exchange.

Clearing and Open Interest

Open Interest for Dry bulk and Tanker future contracts is from 72 645, while the open interest rose to 17 706 lots overall for freight options

(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 tonnes 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:

IMAREX and NOS were pleased to welcome two new members in June. The total number of trading and clearing members at IMAREX and NOS is 172.

• IMAREX NOS - trading stats June 2007

  IMAREX_JUN07_FINAL_MB.pdf 133.80 kB

For more information, please contact:

• Tom Even Mortensen, Chief Executive Officer Tel: +47 2389 4222 tem@imarex.com
• Mikal Bøe, Director Information Services Tel: +65 6438 8097 mb@imarex.com