Cruise News Hubb
Advertisement
  • Home
  • News
  • Destination
  • Cruise Ships
  • Contact us
No Result
View All Result
  • Home
  • News
  • Destination
  • Cruise Ships
  • Contact us
No Result
View All Result
Cruise News Hubb
No Result
View All Result
Home News

2022 Record Year for Tanker Derivative Volumes

admin by admin
January 10, 2023
in News


Published
Jan 10, 2023 1:35 PM by


The Maritime Executive

The derivatives market for clean and dirty tankers saw increased traded volumes in 2022, according to data released by the Baltic Exchange.

Tanker Forward Freight Agreement (FFA) volumes hit 734,972 lots, up 33% on 2021.

Dry Forward Freight Agreement (FFA) volumes reached 2,218,249 lots, down 12% on 2021. Handysize volumes continued to grow following changes implemented to the Baltic Exchange’s Handysize Index in 2020. Options trading volumes in the dry market were 395,163. 

Commenting on the figures, Baltic Exchange Chief Executive Mark Jackson said:
“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. The Baltic Exchange’s status as a regulated benchmark provider has helped to create a mature and liquid market.”

He 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. 

“The most liquid dirty route was the VLCC route Middle East Gulf to China (TD3C), but TD20 (Suezmax) contributed volume too. There were good levels of activity on the clean routes with MR TC2, TC14 and the LR1 route TC5 all contributing significantly. We were also pleased to see continued volume growth in the handysize segment following the change in our vessel description to a 38,000-dwt type.”

The products and services herein described in this press release are not endorsed by The Maritime Executive.



Source link

Tags: dataDry Forward Freight AgreementmaritimetankerTanker Forward Freight Agreementvessel
Previous Post

Explora Journeys reveals culinary offerings

Next Post

New Destination Gaining Popularity for Expedition Cruises

Next Post

New Destination Gaining Popularity for Expedition Cruises

Recommended

Cruise News Update: January 28, 2023

January 28, 2023

Resorts vs. Cruises – What’s Your Perfect Match?

February 2, 2023

Eastern Pacific Tanker Struck by Suspected Iranian Drone off Oman

November 16, 2022

Minority Shareholders Oust DOF Board Over Reorganization Plan

December 14, 2022

Don't miss it

News

Brazilian Navy Sinks the “Toxic Carrier” NAe São Paulo

February 4, 2023
Cruise Ships

Chutes Provincial Park is a scenic escape in Ontario with waterfalls and rapids

February 4, 2023
Destination

Icon of the Seas to Sail in the Caribbean in 2023

February 4, 2023
News

Best transatlantic cruises for 2023, plus tips and what to expect

February 4, 2023
News

Cruise News Update: February 4, 2023

February 4, 2023
News

Senegal’s Delayed Port to Proceed After Government Secures Financing

February 3, 2023

cruise-white

© 2022 Cruise News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Destination
  • Cruise Ships
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Destination
  • Cruise Ships
  • Contact us

© 2022 Cruise News Hubb All rights reserved.