Trading Statistics for July 2009

The overall number of energy transactions, at 28 658, was up 5 % compared to the previous month, as energy trading volume dipped 1 % month-on-month, to 1 098 TWh.

The number of maritime freight derivatives transactions was meanwhile down 13 % on the previous month, to 1 559.

“While overall freight futures market activity has been affected by the summer holiday season, it’s good to see that open interest on freight options is up 45 % year-on-year.” says Herman W. Michelet, Chief Executive of Imarex. “The number of energy transactions is also up month-on-month and year-on-year – getting the second half of 2009 off to a strong start.”

Energy Contracts
The number of energy transactions concluded was 28 658, up 6 % on last July, while the volume of energy traded was 1 098 TWh – down 1 % on July 2008.

Tanker and Dry Bulk Derivatives
The number of dry bulk futures transactions was up 87 % year-on-year, to 480. Dry bulk freight rates were volatile during July 2009, with the settlement rate recovering slightly towards the end of the month. Dry bulk freight rates can be illustrated by the Baltic Exchange Dry Index for spot rates, which was 3 757 at the end of May and 3 350 in the end of July 2009. The number of tanker transactions meanwhile went down 15 % month-on-month, alongside a fall in tanker volumes - down 38 % from June 2009, at 24 766 lots. Freight options volume was 2 340 lots, down 9 % from July 2008.

Freight Open Interest
At the end of the reporting month, open interest for freight options increased 45 % year-on-year to 42 862 lots. Open interest for dry bulk was 24 523 and 29 530 for tanker futures lots (long only positions). The open interest is the total number of lots which remain to be liquidated by either closeout trades or delivery at NOS Clearing. NOS Clearing counts only long positions. Other clearing houses often count both long and short positions into the open interest.

For more information, please contact:

    Herman W. Michelet, Chief Executive Officer
    Tel: +47 2389 4223, herman.michelet@imarex.com

Click here for a full PDF report with charts.

A downloadable excel spreadsheet with trade statistics and financials is available here.