London, 21/08/2026 – Freight Investor Services (FIS), the leading freight and commodity brokerage, has arranged its first Sulphur trade, based on the daily Argus CFR China Sulphur assessment for August at $1,050/mt. The two parties involved in the agreement were TotalEnergies and Macquarie Commodities and Global Markets.
Sulphur is a globally traded industrial commodity with demand driven primarily by fertiliser production, while also playing an important role in sulphuric acid production, mining, and metals processing. China is the world’s largest sulphur consumer and importer, making the CFR China market an important reference point for international trade.
Kieran Walsh, Desk Head of Fertilisers at FIS said:
“Every mature physical commodity market ultimately requires an efficient mechanism for managing price risk. Sulphur is fundamental to agriculture, energy, and metals production, yet until now market participants have had limited options to hedge exposure to day-to-day price movements. The successful arrangement of the first Argus Daily CFR China Sulphur swap is therefore more than a single transaction; it is the beginning of a new chapter for the sulphur market, one that will support greater liquidity, enhance confidence in forward planning, and strengthen the resilience of global supply chains”.
Adrian Binks, Chairman and Chief Executive of Argus Media, added:
“This first transaction is an important step in the development of a sulphur derivatives market, giving participants a clearer way to manage physical price risk. As new demand emerges from battery metals supply chains and supply disruption linked to the Middle East continues, transparent pricing and effective hedging tools will be increasingly important to support the market as it continues to evolve”.
Dr Zubier Arfan, Commodity Derivatives Trader of Macquarie Commodities and Global Markets, added:
“Executing the market’s first OTC Sulphur trade reflects our willingness to take risk and provide liquidity. It also highlights the strength of our commodities platform, connecting diverse markets, clients, and expertise to unlock new opportunities.”
The trade marks FIS’s entry into the sulphur derivatives market, expanding the firm’s commodity derivatives offering into a market increasingly influenced by developments across energy, fertiliser, metals, and global trade flows.
If you would like to know more about the current FIS product offering, please email enquiry@freightinvestor.com
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About FIS
Freight Investor Services (FIS) is a world-leading brokerage and service provider in freight and commodity derivatives. For over 20 years, FIS has forged a reputation as pioneers and innovators, tirelessly striving to spearhead and develop new markets.
FIS enjoys a dominant market share in dry bulk freight (FFAs), iron ore, coking coal, steel and fertilizer derivatives outside China for the last decade. FIS has been named No. 1 bulk commodity broker by the SGX Exchange in 2025. The company has pioneered the development of iron ore, FFA options, coking coal, cobalt, lithium and container markets. In addition to brokerage, FIS offers a comprehensive suite of data services, available across multiple platforms, and bespoke educational material to empower clients to master the commodity derivative markets.
Thanks to its global network of offices in the US, UK, UAE, India, Greece, Denmark, Switzerland, Singapore and China. FIS can provide a 24-hour global network and it is present in all major markets including SGX, CME, ICE, EEX, and DCE.
Learn more at www.freightinvestorservices.com
About Argus Media
Argus is the leading independent provider of market intelligence to the global energy and commodity markets. We offer essential price assessments, news, analytics, consulting services, data science tools and industry conferences to illuminate complex and opaque commodity markets.
Headquartered in London with over 1,500 staff, Argus is an independent media organisation with 32 offices in the world’s principal commodity trading hubs.
Companies, trading firms and governments in 160 countries around the world trust Argus data to make decisions, analyse situations, manage risk, facilitate trading and for long-term planning. Argus prices are used as trusted benchmarks around the world for pricing transportation, commodities and energy.
Founded in 1970, Argus remains a privately held UK-registered company owned by employee shareholders and global growth equity firm General Atlantic.
