IMOS - Trade Route

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Requires the Trading & Risk module or Market Data Access license. You must have the Trade Route Module Right selected.

Trade Routes are typically defined by the market (by the data provider) or by your internal risk management team. Trade Routes are based on Vessel Type and have different units of measure ($/day, $/ton, $/mt, or Worldscale), usually based on the area or the start and end points of the itinerary.

On the Trading menu

, under Data, click Trade Route.

The trade routes are universal for all markets specified as Freight.

Before a Trade Route is defined, ensure that the Market and Market Index exist for the specific route.

Note: Ensure that the values in the "Settlement Route“ and "Spot Route“ columns match the Baltic route ID.

Adding Calculated Routes

You can also add calculated routes:

Select the Calculated check box.
Type in the formula in the Formula field.
Examples:
- AVG (Route1,Route2,Route3)
  - Example: AVG (P2A,P2EA)
- Factor1 * Route1 +/- Factor2 * Route2 +/- Factor3 * Route3
  - Example: 0.6 * 4TC_P - 0.4 * P17A
- Factor1 * $ / TonRoute - Factor2 * BunkerSymbol1 - Factor3 * BunkerSymbol2 - Factor4
  - Example: 1143 * LPG - 42 * SPO380FO - 0.1 * SPOMGO - 2549

For calculated routes that have been used to define the exposure details on a TC contract, you can check the Split check box to split the TC exposure across the routes that are defined in the formula for the route.

Unpriced Components Fill Days and Index-Hires

For the Holiday Calendar to fill the days in the Unpriced Components of TC contracts correctly, the Holiday Calendar needs to be added to the specific Trade Route/Symbol.

I have set a new holiday calendar for testing, named "TEST" that is a holiday on 5th September 2024. When I add that to the Trade Route, and select Fill Days as "Holidays“, then 5th Sept 2024 appears as "Last Available“ on 5th September 2024:

When we check in the Rate Breakdown, we see the following:

Given that the holiday calendar for code UK is 26th August 2024, if we change the holiday calendar in Trade Route to UK, then 26th August 2024 will be "Last Available“ because the Holiday Calendar under code "UK“ is for 26th August 2024.

If my Unpriced Component is now set to "All“, then my weekends AND 26th Aug 2024 will be shown as "Last Available“:

Related Configuration Flags

Name/Flag

Description

Enable Trading Net P&L Fields
CFGEnableTradingNetPnlFields

When enabled:

Net Contract Rate, Net Market Rate, Net P&L Less Commissions, and Parent Contract ID fields are added to the Trading P&L Summary and Trade Details list.
A Ttl Comm. column appears on the Trade Route form, in which you can manually capture market commission percentage to be used for the Net Market Rate calculation on the Trade Details list.