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First new LPG FFA trades completed
The first freight derivatives contract using the Baltic Exchange’s recently launched liquified petroleum gas (LPG) assessment (BLPG3) was traded by Gunvor and Vilma and cleared by CME Group last week (28 April). Clarksons Platou Futures brokered the trade.
Providing a USD per metric ton rate for cargoes of 44,000 metric tons moving from the US Gulf to Japan, BLGP3 is a daily assessment published by the Baltic Exchange and its panel of independent shipbrokers.
Christian Greenop, LNG & LPG derivatives broker at Clarksons Platou Futures said:
“The BLPG3 route is a welcomed addition to the LPG derivatives market, enabling market participants to take a position in the growing Houston – Asia trade, where the liquidity around the dynamic “take or pay” FOB contracts out of the US Gulf have become a key driver in the global LPG trade of today.”
Tanker Operator First new LPG FFA trades completed tankeroperator.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tankeroperator.com Daily Mail and Mail on Sunday newspapers.