Past version: Effective from 18 May 2020 to 02 Aug 2020
- Up to 02 Nov 2010
- 03 Nov 2010 to 27 Feb 2011
- 28 Feb 2011 to 04 Dec 2011
- 05 Dec 2011 to 31 Jan 2012
- 01 Feb 2012 to 29 Feb 2012
- 01 Mar 2012 to 09 Sep 2012
- 10 Sep 2012 to 25 Nov 2012
- 26 Nov 2012 to 28 Apr 2013
- 29 Apr 2013 to 20 Oct 2013
- 21 Oct 2013 to 16 Feb 2014
- 17 Feb 2014 to 03 Aug 2014
- 04 Aug 2014 to 01 Dec 2014
- 02 Dec 2014 to 18 Jan 2015
- 19 Jan 2015 to 08 Mar 2015
- 09 Mar 2015 to 30 Aug 2015
- 31 Aug 2015 to 04 Oct 2015
- 05 Oct 2015 to 06 Dec 2015
- 07 Dec 2015 to 24 Jan 2016
- 25 Jan 2016 to 30 Oct 2016
- 31 Oct 2016 to 26 Mar 2017
- 27 Mar 2017 to 21 May 2017
- 22 May 2017 to 16 Jul 2017
- 17 Jul 2017 to 17 Sep 2017
- 18 Sep 2017 to 22 Oct 2017
- 23 Oct 2017 to 01 Jan 2018
- 02 Jan 2018 to 08 Apr 2018
- 09 Apr 2018 to 20 May 2018
- 21 May 2018 to 22 Jul 2018
- 23 Jul 2018 to 02 Dec 2018
- 03 Dec 2018 to 28 Jul 2019
- 29 Jul 2019 to 20 Oct 2019
- 21 Oct 2019 to 17 Nov 2019
- 18 Nov 2019 to 23 Feb 2020
- 24 Feb 2020 to 17 May 2020
- 18 May 2020 to 02 Aug 2020
- 03 Aug 2020 to 27 Sep 2020
- 28 Sep 2020 to 30 Sep 2020
- 01 Oct 2020 to 13 Dec 2020
- 14 Dec 2020 to 28 Feb 2021
- 01 Mar 2021 to 18 Apr 2021
- 19 Apr 2021 to 09 May 2021
- 10 May 2021 to 30 May 2021
- 31 May 2021 to 11 Jul 2021
- 12 Jul 2021 to 01 Aug 2021
- 02 Aug 2021 to 23 Jan 2022
- 24 Jan 2022 to 27 Feb 2022
- 28 Feb 2022 to 17 Jul 2022
- 18 Jul 2022 to 25 Sep 2022
- 26 Sep 2022 to 20 Nov 2022
- 21 Nov 2022 to 19 Feb 2023
- 20 Feb 2023 to 01 Oct 2023
- 02 Oct 2023 to 14 Jul 2024
- 15 Jul 2024 to 06 Oct 2024
- 07 Oct 2024 to 01 Jan 2025
- 02 Jan 2025 to 13 Jul 2025
- 14 Jul 2025 onwards
Oil Swaps Contracts
| Products | Dubai | Brent / Dubai Crude Oil Spread Swap | Gasoil | Kerosene | Naphtha | ||
| Contract | Dubai Crude Oil Swap | Brent / Dubai Crude Oil Spread Swap | Gasoil Swap FOB Singapore | Kerosene Swap FOB Singapore | Naphtha Swap FOB Singapore | Naphtha CFR Japan | Balance-of-Month Naphtha CFR Japan |
| Final Settlement Price | Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. | Cash settlement using arithmetic average of Platts daily spot assessments in the contract month, rounded to three decimal places. | Cash settlement using the arithmetic average of the remaining assessments of Platts's daily spot assessments in the contract month (inclusive of the current Business Day), rounded to three decimal places. | ||||
| Products | Fuel Oil 180 | Fuel Oil 380 |
| Contract | Singapore Fuel Oil 180cst Swap, 3.5% sulfur | Singapore Fuel Oil 380cst Swap, 4% sulfur |
| Final Settlement Price | Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. | |
| Products | Mini Fuel Oil 180 CST | Mini Fuel Oil 380 CST | BOM Mini Fuel Oil 180 CST | BOM Mini Fuel Oil 380 CST |
| Contract | Mini Singapore Fuel Oil 180 CST Swap, 3.5% Sulfur | Mini Singapore Fuel Oil 380 CST Swap, 4% Sulfur | Balance-of-Month Mini Singapore Fuel Oil 180cst Swap, 3.5% Sulphur | Balance-of-Month Mini Singapore Fuel Oil 380cst Swap, 4% Sulphur |
| Final Settlement Price | Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. | Cash settlement using the arithmetic average of the remaining assessments of Platts's daily spot assessments in the contract month (inclusive of the current Business Day), rounded to three decimal places. | ||
| Products | Visco | Regrade |
| Contract | Fuel Oil 180cst vs 380cst Swaps Differential | Kerosene vs Gasoil Swaps Differential |
| Final Settlement Price | FSP of Fuel Oil 180cst Swap minus FSP of Fuel Oil 380cst Swap | FSP of Kerosene Swap FOB Singapore minus FSP of Gasoil Swap FOB Singapore |
| Product | Petrochemical Swaps | |||||
| Contract | SGX Platts Benzene-Naphtha Swap | SGX Platts Paraxylene-Naphtha Swap | SGX PLATTS PX CFR China Swap | Benzene FOB Korea Swaps | Balance-of-Month Benzene | SGX Platts Methanol CFR China Swap |
| Final Settlement Price | Cash settlement using the arithmetic difference between the Final Settlement Prices of the SGX Platts BZ FOB Korea Swap and the SGX Platts Naphtha CFR Japan Swap, rounded to 3 decimal places. | Cash settlement using the arithmetic difference between the Final Settlement Prices of the SGX Platts PX CFR Taiwan/China Swap and the SGX Platts Naphtha CFR Japan Swap, rounded to 3 decimal places. | Cash settlement using the arithmetic average of all Platts PX daily spot price assessments in the contract month, rounded to 2 decimal places | Cash settlement using the arithmetic average of Platts daily spot 'marker' physical cargo assessments in the contract month, rounded to 3 decimal places. | Cash settlement using the arithmetic average of the remaining assessments of Platts's daily spot marker physical cargo assessments in the contract month (inclusive of the current Business Day), rounded to three decimal places. | Cash settlement using the arithmetic average of all Platts Methanol CFR China daily spot price assessments in the expiring month, rounded to two decimal places. |
| Products | BOM Dubai | BOM Gasoil | BOM Kerosene | BOM Fuel Oil 180 | BOM Fuel Oil 380 |
| Contract | Balance-of-month Dubai Crude Oil Swap | Balance-of-month Gasoil Swap FOB Singapore | Balance-of-month Kerosene Swap FOB Singapore | Balance-of-month Singapore Fuel Oil 180 cst Swap, 3.5% sulfur | Balance-of-month Singapore Fuel Oil 380 cst Swap, 4% sulfur |
| Final Settlement Price | Arithmetic average of the remaining assessments of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. | ||||
| Product | Gasoline 92 | Gasoline 95 | BOM Gasoline 92 | BOM Gasoline 95 |
| Contract | Gasoline 92 RON FOB Singapore Swap | Gasoline 95 RON FOB Singapore Swap | Balance-of-Month Gasoline 92 RON FOB Singapore Swap | Balance-of-Month Gasoline 95 RON FOB Singapore Swap |
| Final Settlement Price | Cash settlement using arithmetic average of Platts' daily spot assessments in the contract month, rounded to three decimal places. | Cash settlement using the arithmetic average of the remaining assessments of Platts' daily spot assessments in the Contract Month (inclusive of the current Business Day), rounded to three decimal places. | ||
| Product | Petrochemical Swaps | |||
| Contract | SGX ICIS LLDPE CFR China Swap | [deleted] | SGX ICIS PP Flat Yarn (Raffia) CFR China Index Swap | [deleted] |
| Final Settlement Price | Cash settlement using the arithmetic average of all ICIS spot price assessments in the contract month for the relevant underlying product, rounded to 2 decimal places. | |||
| Product | Dated Brent | |||
| Contract | Dated Brent Swap | |||
| Final Settlement Price | Cash settlement using arithmetic average of Platts daily spot assessments in the contract month, rounded to three decimal places. | |||
| Product | 0.5% Sulphur Fuel Oil Singapore | |
| Contract | SGX Platts Marine Fuel 0.5% FOB Singapore Swap | SGX Argus LSFO 0.5%S Singapore Bunker Swap |
| Final Settlement Price | Arithmetic average of Platts' spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. | Arithmetic average of Argus' spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. |
Iron Ore Swap Contracts
| Products | Iron Ore Swap | ||||
| Contract | SGX TSI Iron Ore CFR China (62% Fe Fines) Swap | SGX MB Iron Ore CFR China (58% FE Fines) Swap | SGX TSI Iron Ore CFR China (58% FE Fines) Swap | SGX MB Iron Ore CFR China (65% Fe Fines) Swap | SGX Platts Iron Ore CFR China (Lump Premium) Swap |
| Final Settlement Price | Cash settlement using the arithmetic average of all The Steel Index (TSI) Iron Ore Fines 62% FE CFR China reference prices in the expiring month, rounded to 2 decimal places. | Cash settlement using the arithmetic average of all the aggregate daily values of MBIOI — 58% FE Fines, CFR Qingdao Index and MBIOI — 58% Premium FE Fines, CFR Qingdao Index reference prices, as published by Metal Bulletin, in the expiring contract month, rounded to 2 decimal places. | Cash settlement using the arithmetic average of all The Steel Index Iron Ore Fines 58% Fe (Low Alumina) — CFR Qingdao Port Index reference prices in the expiring contract month, rounded to 2 decimal places. | Cash settlement using the arithmetic average of all the MBIOI 65% Fe Brazilian Fines, CFR Qingdao Index reference prices in the expiring contract month, rounded to 2 decimal places. | Cash settlement using the arithmetic average of all Platts IO Spot Lump Premium 62.5% CFR China Index reference prices in the expiring contract month, rounded to 4 decimal places. |
| Product | Iron Ore Option |
| UnderlyingContract | Iron Ore Swap |
| Option Exercise and Settlement | European Style: An option will be exercised automatically at expiry only if it is in-the-money. Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying Iron Ore Swap minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying Iron Ore Swap, multiplied by the contract size. |
Freight Forward Contracts: Tanker Voyage Routes
| Product | TD3 | TC4 | TC 5 |
| Contract | TD3 Forward Freight Agreement- ME Gulf-Japan (Ras Tanura - Chiba), 260,000 mt | TC4 Forward Freight Agreement- Singapore-Japan (Singapore - Chiba), 30,000 mt | TC5 Forward Freight Agreement- Middle East-Japan (Ras Tanura - Yokohama), 50,000 mt |
| Final Settlement Price | Arithmetic average of Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places | Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places | Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places. |
Freight Forward Contracts: Dry Trip Timecharter Routes
| Product | P2A | P3A |
| Contract | Panamax Route P2A Forward Freight Agreement Skaw/Gibraltar — Far East, re-delivery Taiwan/Japan range. 60/65 days | Panamax Route P3A Forward Freight Agreement Trans Pacific round either via Australia or Pacific, delivery and re-delivery Japan/South Korea range. 35/50 days |
| Final Settlement Price | Arithmetic average of last 7 Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 1 decimal place | |
| Product | P2E | |
| Contract | Panamax Route P2E Forward Freight Agreement Skaw/Gibraltar — Far East. Entire Month Average | |
| Final Settlement Price | Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places | |
Freight Forward Contracts: Dry Voyage Routes
| Product | C3 | C4 | [deleted] | |
| Contract | Capesize Route C3 Forward Freight Agreement Tubarao/Beilun and Baoshan. 150,000mt | Capesize Route C4 Forward Freight Agreement Richards Bay-Rotterdam. 150,000mt | [deleted] | |
| Final Settlement Price | Arithmetic average of last 7 Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places | |||
| Product | C5 | C7 | ||
| Contract | Capesize Route C5 Forward Freight Agreement W Australia — Qingdao. 160,000mt | Capesize Route C7 Forward Freight Agreement Bolivar-Rotterdam. 150,000mt | ||
| Final Settlement Price | Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places | |||
Freight Forward Contracts: Dry Timecharter Basket Routes
| Product | P8 |
| Contract | SGX Baltic Panamax Voyage P8 Route Freight Forward Agreement |
| Final Settlement Price | Arithmetic average of all Baltic Exchange Panamax Route P8 daily spot assessments in the Contract Month rounded to 4 decimal places. |
| Product | 4CTC | 5CTC | 4PTC | 5PTC | 6STC | 10STC | HTC |
| Contract | Capesize Time Charter Basket (4 routes) | Capesize Time Charter Basket (5 routes) | Panamax Time Charter Basket (4 routes) | Panamax Time Charter Basket (5 routes) | Supramax Time Charter Basket (6 routes) | Supramax Time Charter Basket (10 routes) | Handysize Time Charter Basket Average 6 Routes |
| Final Settlement Price | Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 1 decimal place | ||||||
| Product | Capesize Option (4 routes) | Capesize Option (5 routes) | Panamax Option (4 routes) | Panamax Option (5 routes) | Supramax Option (6 routes) | Supramax Option (10 routes) | Handysize Option |
| Underlying Contract | Capesize Time Charter Basket (4 routes) | Capesize Time Charter Basket (5 routes) | Panamax Time Charter Basket (4 routes) | Panamax Time Charter Basket (5 routes) | Supramax Time Charter Basket (6 routes) | Supramax Time Charter Basket (10 routes) | Handysize Time Charter Basket Average 6 Routes |
| Option Exercise and Settlement | European Style: An option will be exercised automatically at expiry only if it is in-the-money. Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying FFA minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying FFA, multiplied by the contract size. | ||||||
Container Swap Contracts
| Product | Container Swap | |||
| Contract | Shanghai-Europe Route Container Swap | Shanghai-Mediterranean Container Swap | Shanghai-US West Coast Container Swap | Shanghai-US East Coast Container Swap |
| Final Settlement Price | Cash settlement using the arithmetic average of all Shanghai Shipping Exchange's Shanghai Containerized Freight Index (SCFI) weekly spot assessments for the contract month, rounded to 2 decimal places | |||
Coal Swap Contracts
| Product | Coal Swap | ||||||
| Contract | [deleted] | SGX IHS McCloskey Indonesian 4200kc GAR FOB Thermal Coal Swaps | [deleted] | SGX TSI CFR China Premium JM25 Coking Coal Swap | SGX TSI FOB Australia Premium Coking Coal Swap | [deleted] | SGX API 5 FOB Newcastle Coal Swap |
| Final Settlement Price | [deleted] | Cash settlement using the arithmetic average of all publications of the IHS McCloskey Indonesian (4200kc GAR) FOB Marker reference prices in the expiring contract month, rounded to 2 decimal places. | [deleted] | Cash settlement using the arithmetic average of all publications of the relevant index published by TSI in the expiring contract month, rounded to 2 decimal places. | Cash settlement using the arithmetic average of all publications of the relevant index published by TSI in the expiring contract month, rounded to 2 decimal places. | [deleted] | Cash settlement using the arithmetic average of all publications of the API 5 index published in the Argus/McCloskey Coal Price Index Report in the expiring contract month, rounded to 2 decimal places. |
| Product | Coal Option | |||||
| Underlying Contract | Coal Swap | |||||
| Option Exercise and Settlement | European Style: An option will be exercised automatically at expiry only if it is in-the-money. Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying contract minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying contract, multiplied by the contract size. | |||||
Steel Swap Contracts
| Product | Steel Swap Contracts | |||
| Contract | SGX Hot-Rolled Coil Steel CFR ASEAN Swap | |||
| Final Settlement Price | Cash settlement using the arithmetic average of all The Steel Index (TSI) Hot- Rolled Coil (HRC) — ASEAN Imports reference prices in the expiring month, rounded to two decimal places. | |||
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Added on 27 March 200627 March 2006 and amended on 1 September 20061 September 2006, 1 March 20071 March 2007,1 August 20071 August 2007, 28 November 200728 November 2007, 5 May 20085 May 2008, 17 April 200917 April 2009, 31 May 201031 May 2010, 3 November 20103 November 2010, 28 February 201128 February 2011, 5 December 20115 December 2011, 1 February 20121 February 2012, 1 March 20121 March 2012, 10 September 201210 September 2012, 26 November 201226 November 2012, 21 October 201321 October 2013, 17 February 201417 February 2014, 4 August 20144 August 2014, 2 December 20142 December 2014, 19 January 201519 January 2015, 9 March 20159 March 2015, 31 August 201531 August 2015, 5 October 20155 October 2015, 7 December 20157 December 2015, 25 January 201625 January 2016, 31 October 201631 October 2016, 27 March 201727 March 2017, 22 May 201722 May 2017, 17 July 201717 July 2017, 18 September 201718 September 2017, 18 September 201718 September 2017, 2 January 20182 January 2018, 9 April 20189 April 2018, 21 May 201821 May 2018, 23 July 201823 July 2018, 3 December 20183 December 2018, 29 July 201929 July 2019, 21 October 201921 October 2019, 18 November 201918 November 2019, 24 February 202024 February 2020 and 18 May 2020.