Mon 20 Oct 2008, 08:22 GMT

CME to launch Rotterdam fuel oil swaps


1.5% fuel oil Rotterdam contracts announced for petroleum swaps launch.



Derivaives exchange CME Group has announced that it will launch 17 new petroleum product swaps futures contracts, which include 1.5% fuel oil swaps for the Rotterdam market.

The 17 new petroleum product contracts will include 12 balance of month (BALMO) swap futures contracts on ClearPort®, and will begin on 26th October for a trade date of 27th October.

The BALMO swap futures contracts will be listed for two consecutive months, and the other contracts will be listed for 48 consecutive months. The first listed month for all contracts will be November 2008.

All of the contracts will be 1,000 metric tons in size, except for the Brent crude oil BALMO swap futures contract, which will be 1,000 barrels.

The new futures contracts and their commodity codes include: 1.5% fuel oil FOB Rotterdam swap (Z3); gasoil 0.1 CIF Med swap (Z4); gasoil 0.1 CIF Med vs. ICE gasoil swap (Z5); ULSD 10 ppm CIF Med swap (Z6); ULSD 10 ppm CIF Med vs ICE Gasoil swap (Z7); Brent crude oil BALMO swap (J9); ICE gasoil BALMO swap (U9); 1.5% fuel oil Rotterdam barges BALMO swap (J5); gasoil 0.1 cargoes CIF Northwest Europe BALMO swap (B7); gasoil 0.1 barges FOB Rotterdam BALMO swap (B8); and gasoil 0.1 cargoes CIF Med BALMO swap (X6).

CME Group claims to offer the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is also listed on NASDAQ under the symbol "CME."


Pennsylvania skyline. Sunoco seeks bunker trader in US to drive marine fuels growth  

New hire will be tasked with expanding Sunoco's bunker business in front-line commercial trading role.

Brooklyn Bridge and New York City skyline. Minerva Bunkering recruiting Americas sales manager as it targets regional growth  

New York-based manager is sought to build customer base across North and South America.

Marine battery container. AYK Energy to unveil swappable containerised marine battery system at SMM Hamburg  

The system claims to remove key cost and engineering barriers to marine electrification.

Birjo II vessel. Dutch inland barge Birjo II runs on B100 biodiesel after fossil-fuel conversion  

Sunoil and BFT Tanker Logistics report positive early results from switch to pure biodiesel.

Maran Myrsini vessel. Maran Tankers takes delivery of fourth dual-fuel Suezmax tanker in series  

Maran Myrsini, built by New Times Shipbuilding, joins Maran Tankers' growing dual-fuel fleet.

Marine Tina ship-to-ship (STS) bunkering operation Vitol and Olam Agri claim world’s first co-processed CNSL VLSFO bio-bunkering operation in Singapore  

Cashew nutshell liquid co-processed with VLSFO used on a voyage spanning China, Europe and Brazil.

Forvikbuen vessel. Damen Folla hands over hybrid-electric aquaculture vessel, concluding multi-year deal  

Shipbuilder completes seven-vessel framework agreement with final workboat delivery to Mowi Norway

Verde Marine Energy and Sunoco LP logos. Sunoco and Verde Marine Energy announce commercial collaboration in ARA and UK bunker markets  

Partnership aims to combine Sunoco's Americas reach with Verde's Northern European supply platform.

CMA CGM Berenice vessel. CMA CGM methanol dual-fuel vessel makes first call at Malta Freeport  

Berenice is fifth in a six-ship series of methanol dual-fuel vessels being introduced by the French shipping group.

Everllence 16V175D engine render. Everllence's 175D engine wins offshore tug order from Türkiye  

Sixteen gensets are bound for four Rampage 6000-DE terminal tugs destined for Guyana.