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
|Publication date||1 Feb 2011|
|Size||155mm x 235mm|
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