2021 July 13 16:13

SSY Futures arranges the first trade in SGX’s new gas-powered LNG freight futures contract

SSY Futures Ltd has arranged the first trade in SGX's new BLNG2g Futures contract, according to the company's release. The trade was for settlement basis July and August 2021 against indices published by The Baltic Exchange which value the cost of transporting LNG from the US Gulf to Europe in a gas-powered bulk carrier.

The trade will mitigate the risk on the transportation of LNG from the United States to Europe and is a cash settled contract. The contract is listed and cleared by SGX, The Singapore Exchange.

About SSY Futures Ltd

SSY Futures Ltd is one of the largest Dry Bulk and Freight derivatives brokerages in the world, with brokers in London, Singapore and Stamford. SSY Futures specialises in the steel complex and base metals derivatives as well as Forward Freight Agreements, with a new energy business targeting gas and power contracts. SSY Futures is a wholly owned subsidiary of Simpson Spence Young.

About Simpson Spence Young

Established in 1880, Simpson Spence Young (SSY) is the world's largest independent shipbroker. Its 400 employees cover each major market including dry cargo chartering, tanker chartering, LNG chartering and projects, ship sale and purchase, chemical chartering, consultancy and research, futures and towage. SSY has a global reach, with offices in London, Singapore, Houston, Shanghai, Stamford - USA, Sydney, Geneva, Bergen, Hong Kong, New York, Mumbai, Madrid, Oslo, Sao Paulo, Copenhagen, Tokyo, Vancouver, Dubai, Varna and Zug.