Freight Investor Services (FIS) has brokered the first futures trade for low-sulphur fuel oil (LSFO) on the SGX Platts Marine Fuel 0.5% FOB Singapore Index.
The forward freight agreements (FFAs) specialist broker said this was aimed at helping shipowners hedge their bunker fuel risk ahead of the IMO 2020 deadline on 1 January.
The trade was concluded for the March 2020 contract at $503 per tonne.
