Skogforum – November 2013 Honne Unleashing the potential of Renewables En fremtidsmulighet for...
-
Upload
amaya-hellman -
Category
Documents
-
view
213 -
download
1
Transcript of Skogforum – November 2013 Honne Unleashing the potential of Renewables En fremtidsmulighet for...
Skogforum – November 2013Honne
Unleashing the potential of Renewables
En fremtidsmulighet for norsk- og nordisk skognæring?
Stein O. Larsen, CEO
2
Vision
To unleash the potential of ecological renewable resources.
Mission
By making a regulated marketplace for renewable
products we shall:
• Make good solutions for better risk management opportunities.
• Increase attractiveness for trading in financial contracts.
Areas of renewables
Clean Energy- Green certificates
- Carbon offsets
Weather- Rain
- Temperature
Bio-economy and other Ecological
- Pulp - Wood chip
- Pellets- Recovered fibre
- Paper and packaging - Other Biomass
Forestry- Lumber
- Pulpwood- Forest residual
Norexeco - Productplan
Media!
5
Product selection from the start
Pulp• NBSK• BHKP
Recovered paper • OCC• ONP /OMP
PIX Wood Chip indexes, planned 2013
PIX Forest Biomass Finland Mar 2012
PIX Pellet Continental Dec 2011
PIX NBSK pulp China
PIX Pellet Nordic CIF Nov 2009
PIX BHK pulp China 7.1.2009
PIX ONP/OMG 1.11 dd 2.1.2007
PIX OCC 1.04 dd 2.1.2007
PIX US Newsprint 27.7lb 3.1.2006
PIX Testliner 3 Europe 3.1.2006
PIX White-top Kraftliner Europe 3.1.2006
PIX Kraftliner Europe 7.1.2004
PIX Testliner 2 Europe 7.1.2004
PIX RB Fluting Europe 7.1.2004
PIX US NBSK pulp 19.11.2002
PIX US Newsprint 30lb 5.6.2001
PIX Newsprint Europe 3.10.2000
PIX A4 B-copy Europe 3.8.1999
PIX CWF Europe 3.8.1999
PIX LWC Europe 3.8.1999
PIX BHK pulp Europe 11.5.1998
PIX NBSK pulp Europe 16.9.1996
1996 1998 1999 2000 2001 2002 2004 2006 2007 2009 2010 2011 2012
7.6.2011
Pulp Paper BiomassRecycledPackaging
Strategic Agreement with FOEX Indexes Oy
FOEX Indexes Ltd is the industry leading independent provider of audited, trade-mark registered pulp, paper, recovered paper and wood based bio-energy/biomass price indices.
FOEX and NOREXECO entered a strategic agreement in 2013 for the future use of PIX indices.
FOEX Indexes Ltd
7
Share of recovered paper and Pulp of the papermaking fibre consumption
Source: Pöyry, Management Consulting ,Danish technological Institute & Nordea
Historical price development Pulp
-10,8 in 6 mths
+10,7 in 6 mnths
Source: Pöyry, Management Consulting ,Danish technological Institute & Nordea
9
Historical price development recovered paper
Source: Pöyry, Management Consulting ,Danish technological Institute & Nordea
Hvem hva hvor?
Skogeier SkogeierforeningIndustri• Norsk• Utenlandsk
Fysisk handel (innkjøpere, selgere, markedsfolk).
Finansielle kontrakter (Styret, daglig leder og CFO)
PrissikringValutasikringRentesikring
OCC-Supplier Receives 17,25 mill Euro
Physical = 15 mill Financial Contract = 2,25 mill.
Dec. 2015 - FOEX PIX OCC = 100 EUR/TonnesOCC- supplier receives 15 mill EURO
for Physical tradeOCC-supplier receives 2,25 mill
EURO from NOREXECO.
OCC-Supplier – 1. nov 2013Sells 150000 Tonnes at NOREXECO Cal 15 - Price 115 EUR/Tonnes
Example 1 on Recovered paper – OCC (old corrigated container)
OCC-Supplier Receives 17,25 mill Euro
Physical = 18,75 mill Financial Contract = -1,50 mill.
Dec. 2015 - FOEX PIX OCC = 125 EUR/TonnesOCC- supplier receives 18,75 mill
EURO for Physical tradeOCC-supplier pays 1,50 mill EURO to
NOREXECO.
OCC-Supplier – 1. nov 2013Sells 150.000 Tonnes at NOREXECO Cal 15 - Price 115 EUR/Tonnes
Conclusion; The OCC-supplier receives the same price - regardless of actual Spotprice Dec. 2015
Example 2 on Recovered paper – OCC (old corrigated container)
13
Forward prices – Set by the market?
Period - Forward
Price NBSK - USD
October 2013 873
November 2013 875
December 2013 880
Q1 2014 890
Q2 900
Q3 910
Q4 920
Q1 2015 930
Q2 940
Q3 950
Q4 960
Q1 2016 970
Q2 2016 990
Q3 2016 1000
okt.13
nov.13des.1
3
Q1 2014 Q2 Q3 Q4
Q1 2015 Q2 Q3 Q4
Q1 2016 Q2 Q3800
850
900
950
1000
1050
NBSK USD
NBSK USD
14
• Compliant with EMIR (and Dodd Frank)
• Clearing, margining and reporting.
• Trading in a regulated environment, under supervision of the
European Financial authorities.
• Full price transparency, 3-5 months, 4 Q’s, 3 Calendar
years.
• Low fees, easy access
• Equal access for all participants
• Standardized products.
NOREXECO – Key Benefits
Er dette noe for norsk og nordisk skognæring?
JA ……………., hvis mange nok ønsker det!
Unleashing the potential of renewables
NOREXECO – Exchange solution
Seller BuyerExchange
Sellers Bank /Clearinghouse member
Buyers Bank/ Clearinghouse member Trade-
repository
Reports
Overview of ESMA requirements for non-financial counterparties
19
EmployeesCEO
Stein O. Larsen
CFOEsben Jensrud
Head of ITChristopher Rolsdorph
DSMFrederik W.
Husebye
HEOTor Sletbakken
Desk Manager Nils Andreas Arnesen