New netting for TC1 and TC5

Liquidity in contracts linked to clean tanker routes, which now make up around 25% of volumes on Imarex, has increased significantly since NOS and Imarex introduced an Inter Commodity Spread between the most liquid tanker routes such as TD3 and TD5 in April 2005.

This has led to a higher degree of correlation between the TC1 and TC5 routes.

TC1 is the route for LR-1 coated panamax product tanker sailing from Saudi Arabia to Japan with 55,000 cargo tonnes and TC5 is the same route but on an LR-2 coated aframax tanker with 75,000 cargo tonnes.

Members with open interest in both TC1 and TC5 will see the effects of the new netting regime immediately.

For more information on how this affects you, please contact

• Ms Hanne Baevre Johansson at NOS on +47 2325 9320 or email: hb@nos.no