FIS Bunker Screen Brings Trading into the Digital Age

Press Release
Tuesday, October 16, 2012

Firm bids and offers, updated in real time for six months of bunker forward curve will provide unrivalled degree of price transparency and liquidity.


Freight Investor Services, one of the world’s leading brokers of freight and commodity derivatives, has launched a live bunker fuel pricing service that for the first time makes bunker hedging practical for its biggest users.


The FIS Bunker Screen automatically collates prices from multiple market-makers and provides firm bids and offers in tight spreads along six months of the forward curve. Screen prices move with the market, reflecting up-to-the-minute changes in prices of the three key bunker fuel contracts: Singapore 180CST, Singapore 380CST and Rotterdam 3.5% Sulphur Barges.


Indicative prices on these three contracts for a further three Quarters and four Calendar years are also available. Indicative prices can also be provided on the US Gulf Coast 3.0% contract.


Damien King, Bunker Broker with FIS, said: “The FIS Bunker Screen is what the fuel oil swaps market has been waiting for. It is a completely new concept that puts an unprecedented level of market access in the hands of users. And because FIS offers swap contracts in lot sizes of one tonne upwards, we think that it will appeal to shipowners and charterers who need to hedge, but until now haven’t been as well-served by the market as they should have been.” Bunker fuel prices are fed into the FIS screen automatically and cash-settled swaps can be executed directly on screen, with straight through processing to clearing at SGX, NOS and CME and by voice clearing at ICE.


End-users of fuel oil and bunker blends – notably shipowners and charterers - have traditionally struggled to hedge the comparatively small volumes to which they are exposed at realistic price levels. Because the FIS Bunker Screen provides constantly updated prices in the most liquid markets, users can use it to buy or sell swaps exactly equivalent to their physical exposure.Ali Ersen, Bunker Broker with FIS, said: “When a shipowner knows they are performing a given voyage or charter, they can use the screen to hedge their fuel like-for-like in the volume that they need. That trade can be made with or without the assistance of the broker and they can monitor the price changes in real time through the course of the contract, adjusting their position as necessary.”


Trading on the screen requires an FIS broking agreement and a clearing account with the providers noted above. Users can sign up for the FIS Bunker screen here: http://www.thecleartrade.com/fis/.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

INTERSCHALT VDR Earns CCS Certification

INTERSCHALT maritime systems AG, the provider of maritime software, services and systems for navigation and communications systems (NavCom) and manufacturer of Voyage Data Recorder (VDR) systems,

Nautilus Awards Contract for Dewatering Plant Design

Nautilus Minerals Inc. has awarded a contract for the design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane

McMurdo Introduces Real-time Fleet Management

McMurdo  has announced PRISMA Connect, a web-based integrated fleet management system that connects ship to shore in real-time for improved communication and operational efficiencies,

Finance

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

India Delays 24 LNG Shiploads from Qatar

India has deferred taking deliveries of at least 20 shiploads of expensive liquefied natural gas (LNG) from its main supplier Qatar and wants a rate cut matching

Super Yachts Give Boost to NZ Economy

New Zealand Customs Minister Nicky Wagner says mid-winter marks the end of another successful yacht season, with many of the remaining international yachts departing at the end of last month.

Fuels & Lubes

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries,

Diesel Spill in Houston Ship Channel

A small section of the Upper Houston Ship Channel was closed Tuesday morning after a report of 1,000 gallons of diesel entered Greens Bayou from a cement facility, the U.

Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to

News

CSG8 Holds Change of Command Ceremony

Rear Adm. Robert  Burke turned over command of Submarine Group EIGHT (CSG8) to Rear Adm. Daryl Caudle, during a change of command ceremony at Naval Support Activity Naples, July 29, 2015.

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

Victoria Celebrates Six Millionth Cruise Ship Passenger

Two tourists  -Victoria and Joseph Winthal - disembarking the Golden Princess Cruise Ship in Ogden Point have got an unexpected surprise.      They were selected

Software Solutions

McMurdo Introduces Real-time Fleet Management

McMurdo  has announced PRISMA Connect, a web-based integrated fleet management system that connects ship to shore in real-time for improved communication and operational efficiencies,

Dometic Debuts Engineering Team for Ship-wide Ventilation

Dometic Marine, a division of Dometic Group, a global provider of leisure products for the marine, truck, caravan, motor home and automotive markets, has unveiled its new,

BAE Systems Awards Software Contract to SENER

The Spanish company SENER, Ingeniería y Sistemas S.A has closed a contract with U.K.-based BAE Systems PLC for the integration between FORAN CAD/CAM System and

 
 
Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2217 sec (5 req/sec)