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Imarex to open trading for dry bulk freight options.

NORDIC BUSINESS REPORT-8 March 2006-Imarex to open trading for dry bulk freight options(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

Imarex, the International Maritime Exchange ASA, said on Wednesday (8 March) that it would shortly open for trading in the world's first cleared dry bulk freight options contract.

The new cleared freight options contracts would be for Panamax bulk carriers and would be based on the daily PM4TC (daily basket index of four panamax time charter routes) from the Baltic Exchange in London, UK.

The new panamax freight option contract is an insurance policy against extreme movements in freight rates for Panamax bulk carriers, the company said.

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 8, 2006
Words:121
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