algeny - Frachtderivate einfach erklärt neu Container Swap Agreements

Damit Ihr schnell und einfach Fragen stellen könnt, ist hier eine Email Form, die Ihre gerne benutzen dürft, um mir Fragen zu stellen:

viele Fragen und viele Antworten

Dear Karina,

In today's world, where knowledge is information, there are very few kind souls
who share information as freely as you do. Especially when it comes to the field
of Finance and Shipping. I wish thare are more people like you.
Thank you again and please keep up your good work.

Kind Regards,
Suraz

Thank you so very much for taking the effort to explain derivatives to common folk.
I am very happy to see some one giving out advice for free.
Thank you once again and may you be successful in all your endeavours

Question: Thank you for your very interesting site and information. Is it possible to simply \"buy\" the BFI rather than having to take a position on a trade? If so what is the minumum contract sum, deposit and how would this trade?

From 1985 until 2001 it was possible to buy futures on the BFI – it was called BIFFEX trading (Baltic International Freight Futures Exchange) and was traded on LIFFE in London. Since FFAs were a more specific hedge the liquidity reclined on BIFFEX and shifted towards FFAs.
Since last year the brokers Imarex have launched a new contract that you can trade on the Baltic Dry Index (BDI) – the successor of BFI. The liquidity is not great yet but who knows how that might develop.


My name is Brian Leo, and I wanted to write an email to say your website is very informative! Especially for someone who knows only the basics of trading freight
My question is below, hopefully you\'ve come across this before. I\'ve not been able to get a straight answer out of the different parties we have asked. (LCH, NOS, Baltic Exchange, SGX/Asia Clear, Bloomberg) If you trade the half-day contracts listed at
http://www.asiaclear.com.sg/about/products.shtml#drybulk specifically

Half-day Capesize Time Charter Basket
Half-day Panamax Time Charter Basket
Half-day Supramax Time Charter Basket
Half-day Handysize Time Charter Basket

Where does one get daily settlement data for mark-to-market, risk calculations? SGX/Asia Clear says they don\'t provide data themselves, and only a 3rd party data vendor can provide. A list of these providers is unknown it seems.

How would you go about getting daily settlement data for these FFA\'s specifically?

Thank you for contacting me. As far as I understood your question you are looking for historical settlement data for half-day FFA contracts.
First of all the half-day contract settle on exactly 50% of the full-day contract, so if you have the historic data you can retrieve the required info. If you do not have the data and would like to have it may suggestion would be to contact one of the FFA Brokers that your bank uses to execute their FFA trades. I am sure that the will provide you with the necessary information free of charge if none of your freight colleagues have the data available.


sehr interessante homepage. wie schätzen sie die zukunft von ffa marklern ein? denken sie das diese in naher zukunft überflüssig werden aufgrund von elektronischem handel?

Wie bei den Börsenmaklern auch, denke ich, daß es weiterhin FFA Makler geben wird. Zudem kommt hinzu, daß es sich um einen OTC (over the counter) Markt handelt, der eh die Unterstützung der Makler braucht zur Preisfindung. Ein reiner elektronischer Handel ist bei einem so fach-spezifischen Produkt fast utopisch. Marktexpertise ist unersetzlich insbesondere, da die FFAs so stark vom physischen handel abhängig sind. Das macht Broker/Makler unersetzlich und sichert die Zukunft dieser Berufsbranche.
Die Frage ist eher, ob die Anzahl der Broker weiter abnimmt oder bereits im nächsten Jahr wieder zunehmen wird.


Question: Is it possible to buy or sell FFAs on routes other than those that form the indices (say for example, handymax from Indonesia-ECI)? Thanks.

Theoretically it is possible to buy a FFA from Indonesia to EC India as long as there would be a seller interested in that route and vessel size. However there are several reasons why this is not practical:

You need an independent and reliable index on which the FFA can settlehappens if you want to close this position and you cannot find a counterpart since this is a route not included in the handysize indexof liquidity or in this case no liquidity keeps people away from trading these routes for the reason mentioned in point 2

I am sorry that I cannot give you an immediate solution. A procedure would be to suggest such a route to the FMIUG Freight Market Information User’s Group to add to the index and wait for a successful trial period.


I am very much interested to get more in-depth knowledge about FFAs. Is there any course or on-line tutorial where one can get such information?

I am not aware of any online courses for FFAs. If you are based in London you could contact the Baltic Exchange that organises FFA courses for beginners together with the Cambridge Academy of Transport:
http://www.catz.co.uk/courses/baltic_exchange_series/practical_freight_derivatives/

Maybe that could be of interest to you. Sometimes the CASS University offers classes as well.

If there is a group of 10-20 people in your social circle that are interested I could offer to hold a one day seminar for you for a small fee that would cover my expenses.


Thank you for your prompt reply. I am new to this FFA topic. I went through your website and found it informative. I just asked you a doubt that immediately came to my mind. I wish to read more about FFA. Can you please suggest some books/ websites where I can know more about the practical working of FFAs?

Books that cover FFAs are very theoretical and have little to do with the actual FFA trading in practice. The only way to learn about the trading is to attend FFA Forums and Conferences. There will be one in Asia in early autumn organised by the FFABA and the Baltic Exchange.

Here are two books that are favoured by the market:

SHIPPING DERIVATIVES AND RISK MANAGEMENT by Amir Alizadeh

DERIVATIVES AND RISK MANAGEMENT IN SHIPPING byManolis G. Kavussanos, Ph.D.