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REACTIVATION OF OTC PANAMAX ROUTE P2A AND P3A FFA CLEARING
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In response to the increased OTC trading activities, the Exchange will be reactivating the following FFA contracts for registration and clearing via the AsiaClear Trade Registration System from Monday, 7 December 09:
- Panamax Route P2A Forward Freight Agreement (Skaw/Gibraltar – Far East)
- Panamax Route P3A Forward Freight Agreement (Trans Pacific round Australia or Pacific)
The contract specifications remain unchanged. Both contracts will be cash settled at the end of the month using the arithmetic average of last 7 Baltic daily spot price assessments in the expiring contract month, rounded to 1 decimal place.
Clearing is available for the front 6 months, starting with the current contract month. The first contract month to be listed is January 2010.
With the addition of these contracts, a total of 13 OTC FFA products as listed below are available for clearing on SGX AsiaClear:
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Dry FFAs |
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Wet FFAs |
1. |
Capesize Time Charter Basket |
1. |
TD3 (Ras Tanura - Chiba) |
2. |
Panamax Time Charter Basket |
2. |
TC4 (Singapore - Chiba) |
3. |
Supramax Time Charter Basket |
3. |
TC5 (Ras Tanura - Yokohama) |
4. |
Handysize Time Charter Basket |
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5. |
Half-day Capesize Time Charter Basket |
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6. |
Half-day Panamax Time Charter Basket |
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7. |
Half-day Supramax Time Charter Basket |
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8. |
Half-day Handysize Time Charter Basket |
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9. |
Panamax Route P2A Time Charter |
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10. |
Panamax Route P3A Time Charter |
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For more information on the contract specifications, please click here.
Issued on: 7 Dec 2009
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