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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Japanese Technology Helps Farmers to Changes in Climate

The Japanese technology firms are using their experience in saving energy and in cloud technology to help farmers cope with changes in climate, cheaper imports and declining labor.

Kvaerner in Statoil Unmanned Platform Project

Kvaerner say that Statoil has awarded it a concept study related to a standardised, unmanned dry tree wellhead platform for the Oseberg Future Development project.

TMT CEO Files $100m IP Suit Over Vessel Sale

Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.

Contracts

Rosneft and NADL Sign Exchange of Assets Deal

Rosneft, Seadrill Limited and North Atlantic Drilling Limited (NADL) signed a Framework Agreement that envisages long-term cooperation in the sphere of oilfield development projects.

YPF Oil Extends Operating Agreement with Sinopec to 2027

Argentina's state oil company YPF agreed Friday to extend its operation until 2027 in partnership with a local unit of China's Sinopec oil in an area of ​​a

Scottish Sea Farms Orders Newbuilds

Macduff Shipyards Ltd. has received a contract worth more than £3.3 million pounds from Scottish Sea Farms for the design and build of four 19.8-meter 150T steel

Marine Propulsion

EBDG Completes Repower of COLUMBIA

Elliott Bay Design Group (EBDG), a leading naval architecture and marine engineering firm with offices in Seattle, New Orleans and Ketchikan, Alaska today announced

Mexican Navy Delegation Visits NSSA

The U.S. Navy reported that its Norfolk Ship Support Activity (NSSA) welcomed the Mexican Navy Delegation to Building CEP-200, Naval Station Norfolk, Aug. 21 for

MN 100: Caterpillar Marine

Neumühlen 9 22763 Hamburg/Germany Tel: (713) 895-1449 Email: cat_power@cat.com Website: www.marine.cat.com Managing Director: Nigel Parkinson The Company: Caterpillar

Finance

Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.

Polynesian Shipping Sold to Neptune Pacific Line

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited.

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

Fuels & Lubes

MARAD: Total Fuel Cycle Study for Natural Gas

The Maritime Administration (MARAD) released a study that evaluates total fuel cycle emissions for natural gas versus conventional marine fuels. Results showed

LNG Transport Barge Design Approved by ABS

Conrad Shipyard, L.L.C. engaged Bristol Harbor Group, Inc. (BHGI) to develop a 3,000 cubic meter Liquefied Natural Gas (LNG) transport barge utilizing a Bristol

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

News

Japanese Technology Helps Farmers to Changes in Climate

The Japanese technology firms are using their experience in saving energy and in cloud technology to help farmers cope with changes in climate, cheaper imports and declining labor.

Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.

Kuwait to Boost Oil Exports to China

Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait Petroleum Corporation (KPC) said Saturday.

Software Solutions

Servowatch to Showcase New AMC Range at SMM

Servowatch Systems, a U.K.-based business unit of the Electrical and Automation division of India’s engineering giant Larsen & Toubro, said its exhibition stand

IMB: Guard Against Threat of Cyber Attacks

The International Maritime Bureau (IMB) is calling for vigilance in the maritime sector as it emerges that shipping and the supply chain is the ‘next playground for hackers’.

Northrop Grumman Awarded Navy IT Contract

Grumman Corporation informs it has been selected by the US Navy as one of five contractors for the Consolidated Afloat Networks and Enterprise Services (CANES)

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1478 sec (7 req/sec)