1.9 C
Sunday, February 5, 2023
Home Out of the Box Record tanker derivative volumes in 2022

Record tanker derivative volumes in 2022

Baltic Exchange, source of independent maritime market data, released data about the derivatives market for clean and dirty tankers which showed increased traded volumes for 2022.

Specifically, tanker Forward Freight Agreement (FFA) volumes hit 734,972 lots, up 33% in 2021.

Baltic Exchange chief executive, Mark Jackson commented, "2022 was another year of growth for the tanker FFA market and a good performance for dry bulk. Underpinning these volumes are world-class clearing, volatility, trust in the Baltic Exchange’s settlement data and increased participation by owners, charterers and traders."

Dry Forward Freight Agreement (FFA) volumes reached 2,218,249 lots, down 12% on 2021.

Moreover, handysize volumes continued to grow following changes implemented to the Baltic Exchange’s handysize Index in 2020. Also, options trading volumes in the dry market were 395,163.

Jackson added, "Tanker market volatility has largely been caused by Russia's invasion of Ukraine and volumes jumped significantly after war broke out. This was seen across all sizes and sectors from VLCCs down."

Latest Posts

Virginia Inland Port gets all operational power needs from clean-energy resources

Virginia Inland Port (VIP), an intermodal container transfer facility in Front Royal, Virginia (Warren County) owned by the Virginia Port Authority, is fulfilling all...

Kalmar, Holmen Iggesund extend cooperation agreement for three years

A three-year collaboration deal that was first signed in 2019 between Holmen Iggesund, a member of the Holmen Group, and Kalmar has been extended. The...

CMA CGM becomes official partner of Paris 2024 Olympic and Paralympic Games

The CMA CGM Group will make its expertise available to Paris 2024, by handling the transport and logistics for all the goods, equipment, and...

MSC announces temporary suspension of Beira – Zimbabwe rail service

MSC announced that the through Bill of Landing (TBL) rail service to/from Bulawayo, Harare and Mutare to/from Beira will be temporarily suspended with immediate...

Drydocks World, Aker Solutions join forces to upgrade production at UK’s Rosebank oil and gas field

A joint venture was established by DP World-owned Drydocks World and Aker Solutions to refurbish a floating production storage and offloading (FPSO) vessel for...