May 21, 2022 08:47

Baltic Exchange comments on volumes

Image: Euronav.
Image: Euronav.

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2020 volatility lifts freight derivative volumes for tankers and dry cargo vessels.

In a press release today, the Baltic Exchange said that the freight derivatives market has seen increased traded volumes in 2020 for tankers and dry cargo vessels.

Tanker Forward Freight Agreement (FFA) volumes increased 31 per cent on 2019, reaching 603,261 lots, and a daily average of 33,677 lots achieved on 16th March, during a time when Time Charter Equivalent earnings for VLCCs topped USD 275,000.

Dry FFA volumes hit 1,548,127 lots, up 17 per cent on 2019. Dry market options hit an all-time high, up 37 per cent on the previous year to 318,183. Chief Executive Mark Jackson said: “2020 was another impressive year for the freight derivatives market. Underpinning these volumes are volatility, trust in the Baltic Exchange’s settlement data and increased participation by owners, charterers and traders…”

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