Singapore's Cleartrade Exchange (CLTX) expects the overall market size of its core products of iron ore, shipping and fuel oil to grow strongly to US$200 million (S$280 million) by 2020, and it aims to take a growing slice of that trading, said its chief executive.
CLTX last year became fully owned by Germany's European Energy Exchange (EEX), continental Europe's leading electricity and natural gas bourse, which is trying to go global though acquisitions like CLTX in 2016 and the US Nodal exchange this year.
EEX is a unit of Deutsche Boerse.
Asia-Pacific markets for freight and seaborne commodities are likely to grow to US$200 million in total exchange revenue by 2020, CLTX chief executive Egbert Laege said. "Our ambition is to achieve double-digit growth across these markets," he said.
CLTX is a rival to London-based Baltic Exchange, the world's main shipping bourse, which last year was taken over by Singapore Exchange. But despite its size, it is seen as giving EEX and Deutsche Boerse a foothold in Asia's growth markets.
"We are also very interested in the liquefied natural gas (LNG) market," Mr Laege added. He said Cleartrade's LNG ambitions were supported by its location in Singapore, which is expected to become the main trading hub for LNG markets, allowing EEX power and gas customers in Europe to deal with global gas price exposure.