November 22, 2018 / 2:24 PM / a month ago

NYMEX to launch low-sulphur marine fuel futures contracts in December

LONDON, Nov 22 (Reuters) -

* The New York Mercantile Exchange (NYMEX) will list 11 marine fuel futures contracts with 0.5 percent sulphur content for trade on the CME Globex electronic platform for trade from 10 December, CME Group said.

* The contracts are set to clear through CME ClearPort and will be settled against physical marine fuel assessments from S&P Global Platts.

* The listing comes just over a year before a UN-mandated global reduction in sulphur content for marine fuels from 3.5 percent to 0.5 percent from the start of 2020 unless ships have special equipment on board.

* For full details on the contracts: here (Reporting by Ahmad Ghaddar and Jonathan Saul. Editing by Jane Merriman)

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