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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."

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