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Maritime Policy & Management
The flagship journal of international shipping and port research
Volume 33, 2006 - Issue 3
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Original Articles

Shipping freight derivatives: a survey of recent evidence

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Pages 233-255 | Published online: 09 Sep 2011

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Read on this site (14)

Luqi Ke, Qing Liu, Adolf K.Y. Ng & Wenming Shi. (2024) Quantitative modelling of shipping freight rates: developments in the past 20 years. Maritime Policy & Management 51:3, pages 442-460.
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Jiaguo Liu, Zhouzhi Li, Hao Sun, Lean Yu & Wenlian Gao. (2022) Volatility forecasting for the shipping market indexes: an AR-SVR-GARCH approach. Maritime Policy & Management 49:6, pages 864-881.
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Chih-Yuan Wu, Heng-Chih Chou & Chiung-Lin Liu. (2021) Fear index and freight rates in dry-bulk shipping markets. Applied Economics 53:11, pages 1235-1248.
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Chi-Wei Su, Kai-Hua Wang, Qi Shao & Ran Tao. (2019) Are there bubbles in the shipping freight market?. Maritime Policy & Management 46:7, pages 818-830.
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Xiaolin Sun, Hailong Liu, Shiyuan Zheng & Shun Chen. (2018) Combination hedging strategies for crude oil and dry bulk freight rates on the impacts of dynamic cross-market interaction. Maritime Policy & Management 45:2, pages 174-196.
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Evangelia Kasimati & Nikolaos Veraros. (2018) Accuracy of forward freight agreements in forecasting future freight rates. Applied Economics 50:7, pages 743-756.
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Chih-Peng Chu, Yi-Long Hsiao, Chien-Ming Cho & Yu-Chieh (Cindy) Chen. (2017) Applying compound options in logistics enterprise risk management. Journal of Industrial and Production Engineering 34:2, pages 135-146.
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Jingbo Yin, Meifeng Luo & Lixian Fan. (2017) Dynamics and interactions between spot and forward freights in the dry bulk shipping market. Maritime Policy & Management 44:2, pages 271-288.
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Kevin X. Li, Guanqiu Qi, Wenming Shi, Zhongzhi Yang, Hee-Seok Bang, Su-Han Woo & Tsz Leung Yip. (2014) Spillover effects and dynamic correlations between spot and forward tanker freight markets. Maritime Policy & Management 41:7, pages 683-696.
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Yao-Jen Hsiao, Heng-Chih Chou & Chun-Chou Wu. (2014) Return lead–lag and volatility transmission in shipping freight markets. Maritime Policy & Management 41:7, pages 697-714.
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Ahmed A. A. al sharif & Ruwen Qin. (2014) Valuation of Lease Contracts with a Price Adjustment Option: An Application to the Maritime Transport Industry. The Engineering Economist 59:1, pages 30-54.
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Jens Moberg Rygaard. (2009) Valuation of time charter contracts for ships. Maritime Policy & Management 36:6, pages 525-544.
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. (2006) Editorial. Maritime Policy & Management 33:5, pages 425-429.
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Andreas Kouspos, Photis M. Panayides & Dimitris A. Tsouknidis. Chartering contracts and financial performance of U.S. listed shipping firms. Maritime Policy & Management 0:0, pages 1-15.
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Articles from other publishers (53)

Enrico D’agostini, Sohyun Jo & Maria Attard. (2024) Chartering policies and operational efficiency of shipping lines: exploring strategic changes in response to the COVID-19 pandemic. Journal of Shipping and Trade 9:1.
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Polina Baum-Talmor & Çağatay Edgücan Şahin. (2024) Employment Practices, Cost Minimization, and Their Implications for Food Provisions and Seafarers’ Wellbeing on board Ships – A Qualitative Analysis. INQUIRY: The Journal of Health Care Organization, Provision, and Financing 61.
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Khalid Khan, Adnan Khurshid & Sinem Derindere Köseoğlu. (2023) Are there bubbles in shipping freight during COVID-19?. Research in Transportation Economics 100, pages 101319.
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Shahid Raza, Sun Baiqing, Pwint Kay-Khine & Muhammad Ali Kemal. (2023) Uncovering the Effect of News Signals on Daily Stock Market Performance: An Econometric Analysis. International Journal of Financial Studies 11:3, pages 99.
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Reha Memişoğlu & Seçil Sigalı. (2023) Volatility Transmission Between Container and Dry Bulk Freight Markets During the COVID-19 Pandemic. Journal of ETA Maritime Science 11:2, pages 127-135.
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Fangping Yu, Zhiyuan Xiang, Xuanhe Wang, Mo Yang & Haibo Kuang. (2023) An innovative tool for cost control under fragmented scenarios: The container freight index microinsurance. Transportation Research Part E: Logistics and Transportation Review 169, pages 102975.
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Burakhan Sel & Stefan Minner. (2022) A hedging policy for seaborne forward freight markets based on probabilistic forecasts. Transportation Research Part E: Logistics and Transportation Review 166, pages 102881.
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Jialin Yang, Ying-En Ge & Kevin X. Li. (2022) Measuring volatility spillover effects in dry bulk shipping market. Transport Policy 125, pages 37-47.
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Kelly Gerakoudi-Ventouri. (2021) Shipping managers’ information behavior during a pandemic crisis. Maritime Business Review 7:2, pages 109-126.
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Debasish Maitra, Mobeen Ur Rehman, Saumya Ranjan Dash & Sang Hoon Kang. (2021) Oil price volatility and the logistics industry: Dynamic connectedness with portfolio implications. Energy Economics 102, pages 105499.
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Özhan OKUTUCU, Abdullah AÇIK, Kamil Özden EFES & Sadık Özlen BAŞER. (2021) Analyzing the Impact of Interest Rate on Dry Bulk Freight Market with Time-Varying Causality Method. Ekonomi, Politika & Finans Araştırmaları Dergisi, pages 403-417.
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Ji Zhang, Ting Yang & Jingwei Guo. (2021) Study on Discrete Railway Bulk Transportation Option Based on Game Theory. Journal of Physics: Conference Series 1972:1, pages 012127.
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Debasish Maitra, Saurabh Chandra & Saumya Ranjan Dash. (2020) Liner shipping industry and oil price volatility: Dynamic connectedness and portfolio diversification. Transportation Research Part E: Logistics and Transportation Review 138, pages 101962.
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Lourdes Gómez-Valle, Miguel Angel López-Marcos & Julia Martínez-Rodríguez. (2020) Two New Strategies for Pricing Freight Options by Means of a Valuation PDE and by Functional Bounds. Mathematics 8:4, pages 620.
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Suntichai Kotcharin & Sakkakom Maneenop. (2020) Geopolitical risk and corporate cash holdings in the shipping industry. Transportation Research Part E: Logistics and Transportation Review 136, pages 101862.
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Roar Adland, Georg M.S. Aarheim & Ole M. Holseter. (2020) Baltic Exchange index changes and FFA hedging efficiency. Transportation Research Procedia 48, pages 107-122.
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Xiaolin Sun, Hercules Haralambides & Hailong Liu. (2019) Dynamic spillover effects among derivative markets in tanker shipping. Transportation Research Part E: Logistics and Transportation Review 122, pages 384-409.
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Byoung-Wook Ko. (2018) Dynamic patterns of dry bulk freight spot rates through the lens of a time-varying coefficient model. Transportation Research Part A: Policy and Practice 118, pages 319-330.
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Shiyuan Zheng & Shun Chen. (2018) Modeling the determinants of dry bulk FFA trading volume from a cross-market perspective of spot and forward. Maritime Business Review 3:3, pages 256-275.
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Roar Adland & Amir H. Alizadeh. (2018) Explaining price differences between physical and derivative freight contracts. Transportation Research Part E: Logistics and Transportation Review 118, pages 20-33.
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Panos K. Pouliasis, Nikos C. Papapostolou, Ioannis Kyriakou & Ilias D. Visvikis. (2018) Shipping equity risk behavior and portfolio management. Transportation Research Part A: Policy and Practice 116, pages 178-200.
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Lixian Fan, Sijie Zhang & Jingbo Yin. (2018) Structural Analysis of Shipping Fleet Capacity. Journal of Advanced Transportation 2018, pages 1-11.
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George Alexandridis, Manolis G. Kavussanos, Chi Y. Kim, Dimitris A. Tsouknidis & Ilias D. Visvikis. (2018) A survey of shipping finance research: Setting the future research agenda. Transportation Research Part E: Logistics and Transportation Review 115, pages 164-212.
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Jędrzej Białkowski & Jan Koeman. (2017) Does the design of spot markets matter for the success of futures markets? Evidence from dairy futures. Journal of Futures Markets 38:3, pages 373-389.
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Christos Argyropoulos & Ekaterini Panopoulou. (2017) Measuring the market risk of freight rates: A forecast combination approach. Journal of Forecasting 37:2, pages 201-224.
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Ioannis Kyriakou, Panos K. Pouliasis, Nikos C. Papapostolou & Kostas Andriosopoulos. (2017) Freight derivatives pricing for decoupled mean-reverting diffusion and jumps. Transportation Research Part E: Logistics and Transportation Review 108, pages 80-96.
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Wenming Shi, Kevin X. Li, Zhongzhi Yang & Ganggang Wang. (2016) Time-varying copula models in the shipping derivatives market. Empirical Economics 53:3, pages 1039-1058.
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Grace W.Y. Wang, Zhisen Yang, Di Zhang, Anqiang Huang & Zaili Yang. (2017) Application of Bayesian networks in analysing tanker shipping bankruptcy risks. Maritime Business Review 2:3, pages 177-198.
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Roar Adland & Haiying Jia. (2017) Simulating physical basis risks in the Capesize freight market. Maritime Economics & Logistics 19:2, pages 196-210.
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G. Alexandridis, S. Sahoo & I. Visvikis. (2017) Economic information transmissions and liquidity between shipping markets: New evidence from freight derivatives. Transportation Research Part E: Logistics and Transportation Review 98, pages 82-104.
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Giovanni Pantuso, Kjetil Fagerholt & Stein W. Wallace. (2016) Uncertainty in Fleet Renewal: A Case from Maritime Transportation. Transportation Science 50:2, pages 390-407.
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Manolis G. Kavussanos & Ilias D. Visvikis. 2016. The International Handbook of Shipping Finance. The International Handbook of Shipping Finance 337 370 .
K. Mitroussi, W. Abouarghoub, J.J. Haider, S.J. Pettit & N. Tigka. (2016) Performance drivers of shipping loans: An empirical investigation. International Journal of Production Economics 171, pages 438-452.
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Miguel A. CentenoManish NagThayer S. PattersonAndrew ShaverA. Jason Windawi. (2015) The Emergence of Global Systemic Risk. Annual Review of Sociology 41:1, pages 65-85.
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Amir H. Alizadeh, Chih-Yueh Huang & Stefan van Dellen. (2015) A regime switching approach for hedging tanker shipping freight rates. Energy Economics 49, pages 44-59.
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Amir H. Alizadeh, Konstantina Kappou, Dimitris Tsouknidis & Ilias Visvikis. (2015) Liquidity effects and FFA returns in the international shipping derivatives market. Transportation Research Part E: Logistics and Transportation Review 76, pages 58-75.
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Manolis G. Kavussanos, Ilias D. Visvikis & Dimitris N. Dimitrakopoulos. 2014. Handbook of Multi‐Commodity Markets and Products. Handbook of Multi‐Commodity Markets and Products 355 398 .
Christian von Spreckelsen, Hans-Joerg von Mettenheim & Michael H. Breitner. 2014. Operations Research Proceedings 2012. Operations Research Proceedings 2012 247 252 .
Kyriaki Mitroussi. (2013) Ship Management: Contemporary Developments and Implications. The Asian Journal of Shipping and Logistics 29:2, pages 229-248.
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Kostas Axarloglou, Ilias Visvikis & Stefanos Zarkos. (2013) The time dimension and value of flexibility in resource allocation: The case of the maritime industry. Transportation Research Part E: Logistics and Transportation Review 52, pages 35-48.
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Amir H. Alizadeh. (2013) Trading volume and volatility in the shipping forward freight market. Transportation Research Part E: Logistics and Transportation Review 49:1, pages 250-265.
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Lambros Goulas & George Skiadopoulos. (2012) Are freight futures markets efficient? Evidence from IMAREX. International Journal of Forecasting 28:3, pages 644-659.
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Trevor D. Heaver. 2012. The Blackwell Companion to Maritime Economics. The Blackwell Companion to Maritime Economics 16 33 .
Marcel Prokopczuk. (2011) Pricing and hedging in the freight futures market. Journal of Futures Markets 31:5, pages 440-464.
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MEI-TING TSAI, AMELIA REGAN & JEAN-DANIEL SAPHORES. (2009) Freight Transportation Derivatives Contracts: State of the Art and Future Developments. Transportation Journal 48:4, pages 7-19.
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Manolis G. Kavussanos & Ilias D. Visvikis. 2009. Risk Management in Commodity Markets. Risk Management in Commodity Markets 153 181 .
TIMOTHEOS ANGELIDIS & GEORGE SKIADOPOULOS. (2011) MEASURING THE MARKET RISK OF FREIGHT RATES: A VALUE-AT-RISK APPROACH. International Journal of Theoretical and Applied Finance 11:05, pages 447-469.
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Wolfgang Bessler, Wolfgang Drobetz & Jörg Seidel. (2008) Ship funds as a new asset class: An empirical analysis of the relationship between spot and forward prices in freight markets. Journal of Asset Management 9:2, pages 102-120.
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Eric Tham. (2008) Leading indicators for Arabian Gulf oil tanker rates. OPEC Energy Review 32:2, pages 139-149.
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Murthy Mudrageda & Frederic H. Murphy. (2008) OR PRACTICE—An Economic Equilibrium Model of the Market for Marine Transportation Services in Petroleum Products. Operations Research 56:2, pages 278-285.
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Evangelia Kasimati & Nikolaos Veraros. (2017) Is There Accuracy of Forward Freight Agreements in Forecasting Future Freight Rates? An Empirical Investigation. SSRN Electronic Journal.
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Jedrzej Pawel Bialkowski & Jan Koeman. (2016) Does the Design of Spot Markets Matter for the Success of Futures Markets? Evidence from Dairy Futures. SSRN Electronic Journal.
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Marcel Prokopczuk. (2010) Pricing and Hedging in the Freight Futures Market. SSRN Electronic Journal.
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