Singapore (PRWEB) November 6, 2009
Navitas Resources Announces launch OF THE NR-X PLATFORM at APPEC.
Navitas Resources Pte Ltd, the independent emerging markets developer,will launch NR-X, (nr-x.com), its physical commodity exchange platform, on 4 November 2009 at the annual Asia Pacific Petroleum Conference (APPEC) in Singapore.
The first market to be included on the electronic platform will be Marine Fuels. Consumers will be able to tender for quotes at different shipping ports and for different marine fuel products, while suppliers will be able to place offers in the market 24hrs a day 7 days a week for fuel at their facilities.
Companies can sign up now for access to the system at nr-x.com.
Francesca Zerenghi, Joint Chief Executive of NR, said: "We are very excited to launch NR-X the platform which will help us support the development of emerging forward markets in various physical commodities. We decided to launch the platform with Marine Fuels due to the fact that in the current tough credit climate of today and the economic situation, it is very important for shipping companies to be able to protect themselves from the rising price of Oil. Not all shipping companies have access to, or wish to use financial derivative contracts in Fuel markets such as Swaps and Options to protect their price exposure to Oil prices. NR-X aims to assist in the development of the forward physical bunker market so that Shipping firms can have the opportunity to place forward tenders to lock in both the physical supply and the future price of their bunkers with suppliers."
NR-X is an internet-based network and a highly secure trading platform supporting spot and forward physical market transactions. The platform will provide the marine industry with market information and price transparency on fuel prices, encourage the development of forward trading of bunkers and other marine fuels and so provide consumers with a more efficient system with which to plan, budget and protect their fuel consumption costs. It will offer marine fuel suppliers an international marketing channel for their products and services to shipping groups.
NR-X provides a safe and secure platform for brokers, suppliers and consumers to place their tenders, offers and bids, and generates electronic trade confirmations for added security. There is no charge for Shipping companies to use the platform. NR-X is powered by trusted and tested technology that already supports several large financial markets in Europe and the USA and utilized by over 25 International financial Institutions and Banks.
About Navitas Resources:
Headquartered in Singapore, and with a representative office in Dubai, Navitas Resources (NR) is a private company specialising in the emerging energy and climate commodity markets, providing a full range of business disciplines including consulting, training, broking and trading.
The company?s mission is to provide a single resource for the converging and globalising energy and climate sectors, and its philosophy is to encourage the development of these markets through collaborating with companies to meet their energy and climate targets.
For specific queries, please contact:
Joint Chief Executive
Tel: +65 6832 5186
Email: info (at) navitasresources (dot) com