About JOX
| Company name | J-Oil Exchange Pte Ltd (JOX) |
|---|---|
| Address | 9 Straits View #06-07 Marina One West Tower Singapore 018937, Singapore 239920 |
| Capital | JPY 200 million |
| Established | May, 2001 |
| Service started | Jul 2, 2001 |
| Organization | No employees, services (legal, audit, system development/maintenance/operation) outsourced |
| Board of Directors | 1 each from major shareholders (part-time) |
Purpose
J-Oil Exchange Pte Ltd was established in Singapore in May 2001 to provide deal matching services for players doing swap trades for risk hedging against fluctuations in prices of petroleum products in Japan. We aim to enhance transparency in petroleum products trading and promote fairness in the Japanese market. In addition to swap trades for the waterborne barge market, we started trades for physical cargoes for forward delivery from November 2001 and also provide trade services for truck cargoes at present. JOX provides a platform for the hedging of risks arising from the following trades.
- Risk hedge against fluctuations in Japan import prices and domestic prices
- Risk hedge against changes in procurement prices at the time of sales at fixed prices
- Risk hedge against changes in prices due to time differences
- Risk hedge against changes in selling prices of product inventories
- Lock in refining margins
Only members can carry out trades. Members include shareholders and companies involved in the oil business such as trading houses, refiners, petroleum product suppliers. Trade is conducted over the counter between two companies. JOX is only involved in deal matching and is not a party to the deal contract.
Trade volume
| Year | Trade vol (kl) |
|---|---|
| January to December 2014 | 1,021,108 |
| January to December 2015 | 1,312,878 |
| January to December 2016 | 1,390,872 |
| January to December 2017 | 358,106 |
| January to December 2018 | 282,558 |
| January to December 2019 | 151,620 |
| January to December 2020 | 184,460 |
| January to December 2021 | 191,100 |
| January to December 2022 | 126,680 |
Service
JOX offers two types of service, one is for Trader Members who can join on-line trading as traders and the other is for Viewer Members who can access real-time trading results reports as subscribers. All deals on this site shall be over the counter deal between two parties, and every contract and settlement after deals done shall be made by the respective parties directly. Accordingly, Trader Members shall have to meet the membership qualifications.
Merits
“SWAP”
- You can fix the price merit of import product and domestic product.
- You can minimize the price risk in fixed price sales.
- You can minimize the price fluctuation risk in barter trade.
- You can minimize the price-long risk of your stocks. You can fix your refining margin.
“BARGE JOF”
- You can sell and purchase products of 6 forward month at fixed price.
- You can sell and purchase products of 6 forward month at Rim floating price.
BARGE SWAP
- Outline : This is the paper trading price settlement between the monthly average of the RIM quotation price and fixed price without physical delivery.
- Commodity : Gasoline (0.001% Sulphur), Kerosene, Gasoil (0.001% Sulphur), AFO 0.1(LSA) AFO 1.0, HSCFO (3.0% Sulphur)
- Area : East, Chukyo, Hanshin or Ohnishi basis.
- Delivery Period : 7 months
- Dealing Lot : 1 Lot = 100KL
RACK SWAP
- Commodity : Gasoline, Kerosene, Gas Oil, AFO, LSA
- Price : To be calculated as the average of Japan Domestic “Rim Rack Price Intelligence Daily” published by Rim Intelligence Co. (Average of 4 Refineries of Chiba/Kawasaki/Chukyo/Hanshin)
- Period : During the period from and including 1st – end of the Month
- Settlement : Within 14 calendar days (Bank business days) after the end of the pricing period.
- Dealing Lot : 1 Lot = 1 KL
- Duration : 7 months
BARGE JOF
- Outline : JOF(Japan Oil Forwards) is the forward market of petroleum products. Physical trading with monthly average of the RIM quotation price and the fixed price are available.
- Commodity : Gasoline (0.001% Sulphur), Kerosene, Gasoil (0.001% Sulphur), AFO 0.1(LSA) AFO 1.0, HSCFO (3.0% Sulphur)
- Area : East, Chukyo, Hanshin or Ohnishi basis.
- Delivery Period : 6 Months
- Dealing Lot : 1 Lot = 100KL