Trading platform to launch in March

Wed 10 Feb 2010, 10:52 GMT

Trading platform to launch in March

Marine fuels trading platform aims to create a forward bunker market and help develop a derivatives market.

Singapore-based Navitas Resources has announced it will launch its trading platform for marine fuels on March 1.

The platform, named NR-X, will trade spot contracts for bunker and marine fuels with the aim of creating a forward bunker fuel market, which in turn could help develop a derivatives market.

"Players are looking for better ways to hedge bunker and marine fuel more efficiently and we are trying to encourage transparency and get a forward physical market one or two months out," Tom James, chief adviser to Navitas Resources, has been reported as saying.

"We are discussing future developments with regulated exchanges and clearing houses regarding a derivatives market for these contracts," James added.

"The bunker and marine fuel market is large and so far it has not been given any real development on the exchanges so there is great potential. We expect to see steady development on the NR-X platform," commented James.

Launch Singapore


		Dorian LPG takes delivery of dual-fuel VLGC capable of carrying ammonia The 93,000-cbm Areion can run on LPG or fuel oil and transport ammonia cargoes.

		RINA awards ISCC EU certification to OLT Offshore LNG Toscana for bio-LNG supply Certification enables bio-LNG use in the EU as a renewable fuel under RED II and RED III directives.

		WSC calls for safe maritime corridor as 20,000 seafarers remain trapped in the Persian Gulf Industry body urges IMO member states to establish safe passage and supply access.

		Auramarine to host webinar on ammonia as marine fuel in April Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.

		Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.

		Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels Verification enables ferry operator to report measured methane slip instead of regulatory default values.

		Alliance calls for urgent black carbon action as new Arctic emission control areas take effect Canadian Arctic and Norwegian Sea ECAs now in force, with compliance deadline set for March 2027.

		Lloyd’s Register to class Western Australia’s first electric ferry fleet Echo Marine Group partners with Lloyd’s Register on five battery-electric ferries for Perth’s Swan River.

		ICS condemns Middle East shipping attacks as 20,000 seafarers remain trapped Industry body calls for urgent state action to resupply vessels and enable crew changes.

		Molslinjen order propels Australia to top of battery vessel production rankings Danish ferry operator’s three-catamaran order at Incat Tasmania shifts global manufacturing landscape, analysis shows.