Bid to Create Container Freight Rate Futures Market Gets Mixed Industry Reception, The Journal of Commerce Finds in This Week's Cover Story
NEWARK, N.J., Feb. 16 /PRNewswire/ -- Wild rate swings of the past 18 months have shippers and carriers calling for a way to stabilize the market. In this week's feature story, The Journal of Commerce analyzes whether a "container freight swap agreement" being suggested by Clarkson Securities could be the answer.
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With container freight rates in the midst of virtually unprecedented volatility, Clarkson Securities -- the London-based derivatives brokerage arm of ship broker Clarksons -- is betting it can develop a market where container carriers and shippers can buy and sell futures contracts based on container freight rates. While bulk shippers and carriers have relied on this model for years to hedge against the risk that rising or falling spot rates might cut into the profit they expect from a particular voyage, no such option exists in the container industry. Now, with the wild rate swings of the past 18 months -- first falling to historic depths during the recession, then rising rapidly since last summer -- shippers and carriers are increasingly calling for a mechanism to bring greater stability to the market.
The Journal of Commerce cover story examines whether the Clarkson Container Freight Swap Agreement might be that mechanism, the company's strategic plan behind it and how the industry is reacting a month after the first trade was launched.
This week's edition of The Journal of Commerce also includes in-depth analysis of the supply chain challenges wrought by the January earthquake in Haiti, firsthand accounts of the unimaginable conditions distribution interests face and the lessons learned from the disaster that will help supply chain interests in future disaster planning.
To view daily news visit www.joc.com. For all media enquires, including article reprints, please contact Editorial Director Paul Page.
Since 1827, The Journal of Commerce has been the most trusted source of intelligence for international logistics executives to help them plan global supply chains and better manage day-to-day transportation of goods and commodities in the United States and internationally.
To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10% discount on all JOC Events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Transpacific and Transatlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.
About UBM Global Trade - UBM Global Trade, formerly Commonwealth Business Media, Inc., has been the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide since 1827. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, The Journal of Commerce Events, PIERS Global Intelligence Solutions and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of United Business Media Limited, is headquartered in East Windsor, NJ, with offices throughout the United States and in Canada and Hong Kong. For more information, explore www.ubmglobaltrade.com or call 800-221-5488 (+1-609-371-7700 outside the U.S. and Canada).
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SOURCE The Journal of Commerce
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