SSY Futures Ltd Arranges the First Trade in SGX’s New Gas-Powered LNG Freight Futures Contract
PRESS RELEASE
London 12 July 2021
SSY Futures Ltd is pleased to report that it has arranged the first trade in SGX's new BLNG2g Futures contract. 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.
“SSY Futures Ltd is well known in its core area of Forward Freight Agreements, iron ore, coking coal and steel derivatives, and it has also carved out a niche business in the energy and power markets. We are delighted by this early success in the new BLNG2g contract and look forward to promoting this innovative new Baltic settled, SGX cleared contract,” said James Whistler, Head of SSY Futures’ Energy team.
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.
For more information on SSY Futures' services and daily reports contact:
Duncan Dunn on +44 20 7977 7597 or duncandunn@ssy.co.uk
Or
Jamie Pearce on +65 6854 7126 or jamiepearce@ssysingapore.com
ENDS
Simpson Spence Young press contact
Media Relations: Issued by Navigate PR on behalf of Simpson Spence Young. For further details please contact Alex Wood.
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T: +44 (0)77 3053 5104
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. Our 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.
www.ssyonline.com