- Contract Specifications
- Execution Fee
Fuel Oil, one of the most elementary inputs that drive the global shipping industry, is also closely tied to crude oil. Given the huge fluctuations experienced by the crude, the negativity surrounding the current freight market and with the global physical market estimated at around four million barrels per day, there is a huge incentive and necessity for traders and market participants alike to manage their exposures to risk and volatility associated with fuel prices through the paper market.Moreover, the highly competitive nature of the physical market has seen the futures market being an important economic tool to predict prices and estimated amount of demand and supply.
The fuel oil contracts listed on CLTX are cash settled derivatives contracts settled against the Platts daily settlement prices for each respective contract and are based on the most liquid physical fuel oil contracts traded. These contracts are currently available for clearing through NDQ and SGX. For more details, please find our latest Fuel Oil product brochure.
Fuel Oil Futures: Contract Specifications 180 CST FOB Cargoes Singapore: S180
380 CST FOB Cargoes Singapore: S380
3.5% FOB Barges Rotterdam: R35 180 CST FOB Cargoes Singapore (BALMO): S180B
380 CST FOB Cargoes Singapore (BALMO): S380B
Minimum Tick NDQ: USD 0.01
SGX: USD 0.01
NDQ: USD 0.01 SGX: USD 0.01 Lot Size NDQ: 1 Metric Tonne
SGX: 100 Metric Tonnes
1 Metric Tonne 100 Metric Tonnes Currency US Dollar Forward Curve In respect of daily settlement, it will be the end of day price as determined by clearing houses, based on submission by approved OTC brokers. In respect of final settlement, it will be the arithmetic average of Platts daily spot assessments in the contract month. In respect of final settlement, it will be the arithmetic average of the remaining assessments of Platts daily spot assessments in the contract month. Index Provider Platts Contract Series Months, quarters and calendar years out to a maximum of 36 months Current and next business days of the current contract month, excluding the first business day Expiry Last business day of the contract month Settlement The first business day following the expiry day Clearing House NDQ, SGX
Trader Membership Fee Free Screen User Fee Free Fee Basis Per Metric Tonne Fee Value US Dollar Volume (mt/month) Effective Rate 0 – 100,000 $0.25 100,001 – 250,000 $0.15 More than 250,000 $0.05
General Terms of business
1) CLTX reserves the right to modify prices
2) Prices published serves as a point of reference and fees may vary across different market participants.