One book. Wet barrels on one side, paper on the other.
Term and spot cargoes lifted at the loadport, chartered on our own tonnage, delivered against confirmed letters of credit. We take title. We carry the risk between load and discharge.
Futures, swaps and dated-to-frontline spreads hedged against every open cargo. We clear ourselves through two exchanges and hold the margin. The paper book is never a bet. It is the mirror of the wet one.
Every open position is hedged the day it opens.
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The desk has one name on the door.
Rokrah is founded and led by Saimah Zaharah, on a simple conviction: the barrel and the paper belong in the same hands. She runs every book the house trades: physical liftings out of the Gulf, the tonnage that carries them, and the derivatives that keep the position flat.
Her market is the corridor between Fujairah, Geneva and Singapore: crude and refined products priced, hedged and delivered under one roof. Counterparties deal with her directly: decisions are taken at the desk, not referred up.
Views from the book, not a newsletter.
Price a cargo without its paper leg and you are not trading, you are hoping. Every barrel we lift is matched in futures or swaps the same session, so a five dollar move between load and discharge is an accounting entry here, not an event.
When the front of the curve trades under the back, storage earns its keep and cargoes can wait. When it inverts, the market pays whoever can deliver now. The desk trades both states: the shape of the curve, not the headline price, decides which book works hardest.
The Gulf refines more middle distillate than it burns; East Africa and South Asia burn more than they refine. A 10ppm cargo out of Fujairah reaches its buyer in days, not weeks. Short voyages mean fewer pricing days to hedge and tighter freight. That is the corridor we work.
Open a line.
Tell us the grade, the volume and the terms. If it fits the book we come back inside a working day with a firm indication, not a brochure.
Your enquiry is logged to the desk. A dealer will come back inside a working day on the details you gave: grade, volume, laycan and terms.