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

Technology

‘Landmark Year’ for RS in 2014

For Russian Maritime Register of Shipping (RS), 2014 marked the 101st year of its activities. The classification society said 2014 also marked a landmark year,

Partnership Targets Waste Conversion Solutions

Terragon Environmental Technologies Inc. has entered into a strategic partnership with Green Marine Capital (GMC) in an effort to enable off grid sustainability

CakeBoxx, Globe Tracker Partner for Asset Tracking

Globe Tracker International, a company in global autonomous asset tracking, monitoring, remote management and data sharing services, and CakeBoxx Technologies,

Finance

NewLead Expands Fleet to 10 Vessels

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its

Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad

Hellman & Friedman Sells Out of GTT

Gaztransport & Technigaz S.A. (GTT) announces that H&F Luxembourg 1 S.à.r.l., an affiliate of Hellman & Friedman, has completed the sale of its remaining holding

News

Libya Returns Fuel Tanker to Rival Government

Libya's recognized government has released a tanker forced to dock at a port under its control after originally banning it from delivering fuel to its rival administration,

Tauber Oil Opens West Calcasieu Port Operations

Tauber Oil Company of Houston has become the West Calcasieu Port’s newest tenant.    “Tauber Oil is a service-oriented wholesale energy marketing company with

US Proposes Allowing Oil, Gas Drilling off Atlantic Coast

The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast.   The

Software Solutions

Abu Dhabi Ports Invests in Management Software

Abu Dhabi Ports is implementing a brand new terminal operating system (TOS) which will enhance the general cargo operations at the emirate’s ports, significantly

KR Launches Software to Aid ECA Compliance

The Korean Register (KR) has launched an in-house developed software program to assist vessels with fuel oil change over when complying with the new low sulphur regulations.

Navy Communications Satellite Launched

The Navy's third Mobile User Objective System (MUOS) satellite was launched today at 8:04 p.m. EST from Space Launch Complex 41. This communications satellite

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.1976 sec (5 req/sec)