crude trade

APEX Argus Bunker Index Covers Price Risks Associated With Marine Fuel

The Asia Pacific Exchange (APEX) launched the APEX Argus Bunker Index Singapore LSFO 0.5%S futures contract on Friday 18 October, reports a news release on PR Newswire.

Strict sulphur regulations

This contract provides a tool for market participants to hedge price risks associated with marine fuel.

The contract complies with tighter sulphur specifications being introduced by the International Maritime Organisation in 2020. 

A total of 120 lots traded on the opening day of the December, January and...

http://mfame.guru/apex-argus-bunker-index-covers-price-risks-associated-with-marine-fuel/

American Shipping Company ASA Reports Q4 Results

On 28 February 2019, American Shipping Company ASA announced the results for fourth quarter ending 31 December 2018.

Report Highlights
  • Overseas Shipholding Group (“OSG”) exercised options to extend the bareboat charter agreements for all nine of AMSC’s vessels up for renewal
  • Stable Q4 bareboat revenue of USD 22.1 million and backlog of secured bareboat revenue of USD 302.7 million with average weighted tenor of 3.4 years
  • Normalized EBITDA for Q4 of USD 22.2 million
  • Adjusted net profit for Q4 of...

http://mfame.guru/american-shipping-company-asa-reports-q4-results/