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Cleartrade Exchange (CLTX), the Singapore regulated futures exchange for commodity derivatives, is pleased to report its largest weekly trading volume in Dry Bulk Freight Forward Agreements (FFAs), with a total of 18,670 lots recorded, the equivalent of approximately 50% market share.
Richard Heath, Head of Product, CLTX, said “Conditions in the dry bulk freight market have been generally depressed so far in 2015. Whilst the market has remained volatile, record low freight rates have created an overall reduction in FFA activity, with volumes almost 10% down on 2014. It is against this backdrop that I am very happy to report CLTX’s largest ever weekly volume for FFAs.”
Erlend Engelstad, Market Development Director, Freight and Energy, CLTX, said “We are very pleased to see that our initiatives to grow market share in the freight sector are starting to generate success. Last week’s increased market volumes were due to a price rally on several forward periods. The general forecast for the rest of 2015 is that rates will remain low however, we are optimistic that if rates do improve, the second half of 2015 will see many more weeks with better FFA volumes.”
CLTX acts as a central host for the Dry Bulk Freight market, covering everything from providing a regulated and transparent venue to adding contracts, tools and features which create the optimum environment for principals and brokers to trade at low risk and with high efficiency.
CLTX offers Forward Freight Agreements (FFAs) on time charter contracts and individual route contracts. CLTX Forward Freight Agreements (FFAs) are financially settled derivative contracts settled against the monthly average of various daily dry bulk indices published by the Baltic Exchange.
