US$ 1.25 Billion traded in July - up 126%

Trading statistics:

CEO's view point:

“In July we retained the momentum from the first half of 2007 and we are continuing our focus on growing the volume of freight and fuel oil derivatives that are traded with us. We saw increases in tankers, fuel oil and options and our dry bulk team benefited well from the current strong shipping market. This is a good start to Q3 for us,” says Managing Director of the International Maritime Exchange ASA (IMAREX), Herman Michelet

Proportional statistics:

Tanker derivatives:

A total of 1 055 trades (818 trades in June) were concluded by members and OTC clients, up 38% on the same period last year.

A total of 14 395 lots in tanker futures (14 million tons) were traded via IMAREX, up 3% compared to the 14 005 lots traded in the same period last year. The notional value of tanker transactions at IMAREX was US$ 285 million (US$219 million in June), up 17% from US$243 million traded in the same period last year.

Tanker futures accounted for 51% of volume traded at IMAREX NOS, and 23% of the notional value traded at the exchange.

Dry bulk derivatives:

Combined dry bulk volumes cleared at NOS and traded at IMAREX was 9 259 lots (where 1 lot is 1 day of time charter or 1000 metric tons of freight), down 8% from the 10 038 lots traded in July 2006. The notional value of contracts traded was US$441 million, up 127% compared to the same period last year.

A total of 129 dry bulk derivatives transactions in July compares to 102 transactions in the same period last year.

Dry bulk futures accounted for 33% of volume traded at IMAREX NOS, and 35% of the notional value traded at the exchange.

Bunker fuel oil derivatives:

The total number of fuel oil derivative transactions in July was 60. Volumes traded were 1.1 million tons, a new record and up 230% compared to July 2006. The total notional value of bunker fuel oil contracts traded at IMAREX and NOS in July rose 254% to US$400 million, up from US$113 million in the same month last year.

Bunker fuel oil swaps accounted for 4% of volume traded at IMAREX NOS, and 32% of the notional value traded at the exchange.

Freight options:

In July, a total of 56 IMAREX freight options (50 in June) accounting for 3 474 lots (2 885 in June) with a notional trade value of US$132 million were traded (US$110 million in June). Freight options accounted for 12% of all contracts traded at IMAREX NOS, and 10% of the notional value traded at the exchange.

Clearing and Open Interest

Open Interest for Dry bulk and Tanker future contracts rose 9% to 78 591 lots (from 72 645 in June). Open interest for Freight Options also rose 9% to 19 312 lots, up from 17 706 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:

• No new members were added during July.

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

PLESE SEE THE FULL REPORT ATTACHED BELOW:

• Trading statistics IMAREX NOS July 2007

  IMAREX_JUL07_MB_FINAL.pdf 152.19 kB