SGX Launches New FFA And Futures Contracts For LNG Vessels mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
K Line: Brief report of the the year ended March 31, 2021
1. Qualitative Information and Financial Statement
(1) Qualitative Information about the Consolidated Operating Result
1) Summary of Consolidated Operating Results for FY2020
Due to significant business performance improvement of OCEAN NETWORK EXPRESS PTE. LTD. (hereinafter referred to as “ONE”), the company recorded 118.165 billion yen of equity in earnings of subsidiaries for the fiscal year 2020. Within the recorded equity in earnings of subsidiaries, “ONE” accounted for 119.271 billion yen in consolidated cumulative fourth quarter, and 67.325 billion yen in the fourth quarter alone.
(i) Dry Bulk Segment
Dry Bulk Business
In the Cape-size sector, market rates fell steeply early in the current fiscal year as a result of the combined effects of stagnant economic activity due to the spread of COVID-19 and a decrease in shipments due to unfavorable weather conditions in production locations. However, around the m
EEX To Expand Dry Bulk Freight Portfolio With Launch Of Handysize 7TC Futures Date
19/04/2021
The European Energy Exchange (EEX) will expand its range of products for the Dry Bulk Freight market with the launch of Handysize 7TC Freight Futures which will be available for Trade Registration from today (19th April).
Following a period of strong growth in the charter market, the new Handysize contract will help customers manage their exposure by enabling them to clear Forward Freight Agreement (FFA) trades for the 38,000-dwt Handysize Time Charter basket of routes.
The launch of the new contract follows an 18-month period of sustained growth for EEX’s Dry Bulk Freight business with 2020 marking its most successful year to date, achieving an annual trading volume of 789,921 lots. This strong development has continued into 2021, with the business setting a new all-time monthly record in March with 122,544 lots traded.
Photo: Peter Gonzalez - Unsplash Trading volumes in the freight derivatives markets for both tankers and dry cargo vessels saw an increase in 2020, according to data by the Baltic Exchange.
The Forward Freight Agreement (FFA) volumes for tankers were up 31% on the previous year, reaching 603,261 lots, with a daily record of 33,677 lots achieved on 16 March at a time when time-charter equivalent earnings for VLCCs exceeded $275,000.
Volumes for dry FFA touched 1,548,127 lots, up 17% on 2019. Options trading in the dry market hit an all-time high, up 37% on the previous year to 318,183, Baltic Exchange data showed.
One lot is defined as a day’s hire of a vessel or 1,000 metric tonnes of transportation of cargo.