Theory and Practice of Shipping Freight Derivatives
Theory and Practice of Shipping Freight Derivatives provides practical coverage of shipping freight rate derivatives, detailed by leading expert practitioners in the field, offering best practices from divergent and different points of view.
This book is an essential purchase for all members of the shipping and financial communities. The book will also be required reading for academics and students of maritime or transportation-related university programs.
As an inherently volatile industry, shipping is characterised by a high risk-high return profile, making its rates and prices difficult to forecast, and as a consequence business projects less accurately budgeted. Thus, the identification and management of any such business risks is imperative. This can make the difference between success or failure when contending with the adverse price movements of the market, and the intense competition which exists in this global industry.
Freight rates and their fluctuation constitutes the most significant source of business risk. Its increasing recognition has brought with it a significant amount of derivative products, which have begun to offer more effective, flexible and cheaper ways to manage risk. This has become particularly pertinent following the global financial crisis. The book provides practical coverage of shipping freight rate derivatives, detailed by leading expert practitioners in the field, offering best practices from divergent and different points of view.
Chapters, among others, include:
. The Structure of the Freight Derivatives Markets
. Credit Risk and the Benefits of Clearing Services
. The Shipowner’s and Charterer’s View and Practice of Freight Derivatives
. The Bankers’ Perspective of Freight Derivatives
. Accounting and Tax, perspectives
. Setting up a Freight Rate Risk Management Department
| ISBN | 9781906348489 |
|---|---|
| Navision code | MTPS |
| Publication date | 1 Feb 2011 |
| Size | 155mm x 235mm |
Manolis G. Kavussanos and Ilias D. Visvikis
Professor Manolis G. Kavussanos is a faculty member of the Athens University of Economics and Business (AUEB), Greece. He is the Director of the MSc and PhD programs in Accounting and Finance and of the Research Centre for Finance at AUEB.He holds a BSc and MSc (Economics) from London University and a PhD (Applied Economics) from City University Cass Business School (Cass), London.
He launched and directed the MSc in Trade, Logistics and Finance at Cass until he joined AUEB. He has held various posts as professor of finance and shipping in universities in more than eight countries around the globe.
He has written extensively in the areas of finance, shipping and applied economics and has been the author of numerous pieces of academic work published in top international refereed journals, in conference proceedings and books. This work has been presented in international conferences and professional meetings around the world, gaining awards for its quality, being sponsored by both public and private sector companies and being cited extensively by other researchers in the area.
Since 1992 he has worked in developing the area of risk analysis and management in shipping and is the author of the unique and most comprehensive book on risk management and derivatives in shipping
Dr. Ilias D. Visvikis is the academic director of the MBA in shipping programme at ALBA Graduate Business School in Greece, an associate professor of finance and the director (in Greece) of the MSc in international shipping and finance programme, which is offered by the ICMA centre at Henley Business School, University of Reading and ALBA. He has lectured in several universities and his research work has been published in academic journals and practitioner magazines as well as being presented extensively in international academic and business conferences around the world.
Ilias co-authored the book Derivatives and Risk Management in Shipping. He has held posts in the Central Securities Depository of Greece and in the derivatives market of the Athens Exchange, and has an extensive experience in consultancy and executive training services in the area of risk management in shipping.
He holds a BSc in business administration from the University of Aegean (Greece), an MSc in international financial markets from the University of Southampton, an MSc in international shipping from the University of Plymouth and a PhD in finance from Cass Business School.
1. Introduction to the Theory and Practice of Shipping Freight Derivatives
Prof. Manolis Kavussanos, Athens University of Economics and Business
Dr. Ilias Visvikis, ALBA Graduate Business School
2. The Structure of the Freight Derivatives Market
Alex Gray and Janet Sykes, Clarksons Securities Limited
3. The Role of the Baltic Exchange in the Freight Derivatives Market
Jeremy Penn, the Baltic Exchange
4. Credit Risk and the Benefits of Clearing Services in Freight Derivatives
Isabella Kurek-Smith, LCH.Clearnet
5. The Shipowner’s View of Shipping Freight Derivatives Trading
Demetris Nenes, OceanFreight Inc.
6. The Charterer’s View of Freight Derivatives
Stefan Albertijn, Baltic Exchange Freight Market Information Users Group
7. Forward Freight Agreements – The Brokers Perspective
Duncan Dunn, SSY Futures Ltd.
8. The Banker’s View in Freight Derivatives
Alex Orfanidis, ABN AMRO Bank N.V.
9. The use of Technical Analysis in FFA trading
Georgi Slavov, ICAP Plc.
10. Accounting and Tax Issues in Freight Derivatives
Vassos Vrachimis, PricewaterhouseCoopers LLP
11. Legal Framework of Freight Derivatives
Damian Honey and Andrew Johnston, Holman Fenwick Willan LLP
12. Electronic Trading Software Needs
Michael Lolk Larsen, Triple Point Technology
13. Setting up a Freight Derivatives Desk
Stephanos Pissis, Statoil ASA