Thu 10 Sep 2009 07:26

ICE announces new OTC fuel oil contracts


Futures exchange to launch new fuel oil swaps contracts in September.

IntercontinentalExchange, Inc. (ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, has announced the introduction of a number of new OTC cleared energy contracts for the fuel oil markets.

ICE plans to make these OTC swaps available for clearing beginning Monday, September 28, 2009.

The new OTC contracts available for clearing on September 28 are:

- Platts 3% Fuel Oil USGC vs. 3.5% Fuel Oil FOB Rotterdam Barges Swap (GOE)

- Platts 3% Fuel Oil USGC Swap (RBO)

- Platts 3.5% Fuel Oil Barges FOB Rotterdam Balmo Swap (BAS)

- Platts 1% Fuel Oil Cargoes FOB NWE Balmo Swap (CAS)

- Platts 180 CST Singapore Fuel Oil vs. 3.5% Fuel Oil Barges Rotterdam Balmo Swap (SFT)

- Platts 180 CST Singapore Fuel Oil vs. 380 CST Singapore Fuel Oil Balmo Swap (STT)

With the products announced today, ICE now offers 240 cleared OTC energy contracts, including nearly 150 new OTC contracts since the launch of ICE Clear Europe(R) in November 2008.
Port of Gothenburg Energy Port. Swedish biomethane bunkered in Gothenburg  

Test delivery performed by St1 and St1 Biokraft, who aim to become large-scale suppliers.
Image from Cockett Marine Oil presentation. Cockett to be closed down after 45 years  

End of an era as shareholders make decision based on 'non-core nature' of Cockett's business.
Petrobras logo. Petrobras confirms prompt availability of VLS B24 at Rio Grande  

Lead time for barge deliveries currently five days.
Opening of the IMO Marine Environment Protection Committee (MEPC), 83rd Session, April 7, 2025. IMO approves pricing mechanism based on GHG intensity thresholds  

Charges to be levied on ships that do not meet yearly GHG fuel intensity reduction targets.
Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.
Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.
Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.
Stanley George, VPS Group Technical and Science Manager, VPS. How to engineer and manage green shipping fuels | Stanley George, VPS  

Effective management strategies and insights for evolving fuel use.
Sweden flag with water in background. Swedish government bans scrubber wastewater discharges  

Discharges from open-loop scrubbers to be prohibited in Swedish waters from July 2025.
The ME-LGIA test engine at MAN's Research Centre Copenhagen. MAN Energy Solutions achieves 100% load milestone for ammonia engine  

Latest tests validate fuel injection system throughout the entire load curve.

↑  Back to Top


 Related Links