IMAREX SHIPPING PRICES NOW ON BLOOMBERG

Imarex prices from Oslo and Singapore are accessible to more than 260,000 subscribers to the Bloomberg Professional ® service in more than 125 countries.  All Bloomberg subscribers will find a daily price picture of the entire freight futures market as well as intra-day updates on TD3 (VLCC AG/Japan), the most liquid of the tanker routes traded on Imarex.

"We have spent four years building a serious financial marketplace for shipping derivatives, and now that market is available to the all the world's financial markets on Bloomberg," says Imarex Director of Information Services, Mikal Bøe.

Over the last two years freight principals have increasingly embraced the cleared freight futures market at Imarex in favour of the riskier bi-lateral FFA market. Imarex market share of the tanker freight derivatives market reached nearly 35% in 2004.

Members of enjoy straight through clearing of all contracts with NOS (The Norwegian Futures and Options Clearing House), the only specialised clearing house for freight derivatives.

"With this development, Bloomberg reinforces its commitment to developing the freight derivatives market and providing critical information to our customers in the shipping industry," according to Russel Levi of Bloomberg

Banks, brokers, funds and investors now have the ability to carry out all relevant research and follow the freight market throughout the day – whilst setting up membership and systems to trade straight through at Imarex.

Imarex expects membership of the exchange to exceed 100 full members this quarter. This will take the membership to over 75% of all currently active freight derivatives principals as members of the exchange.  

"As the freight derivatives market matures, an increasing number of financial industry players are expected to join, further improving liquidity at Imarex," says Boe.

Bloomberg terminal users can access Imarex prices on Bloomberg by entering IMRX .