LONDON, April 25 (Reuters) - London's Baltic Exchange is developing a container shipping index with Hong Kong-headquartered group Freightos in another sign that the centuries-old business is moving into new markets. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates, including ones used by the … [Read more...]
U.S. Fund Manager to Launch First ETF for Shipping Futures
By Jonathan Saul and Maiya Keidan LONDON, March 8 (Reuters) - U.S.-based fund manager Breakwave Advisors is launching the first exchange-traded fund (ETF) focusing on freight futures, reflecting growing investor interest in shipping as it emerges from a near-decade long crisis, a regulatory filing showed. Around 90 percent of traded goods by volume are transported by … [Read more...]
Baltic Index Falls 10% This Week; Capesize Index Down 17%
Feb 2 (Reuters) - The Baltic Exchange's main sea freight index, ended the week over 10 percent lower on Friday, as rates fell across all vessel segments, pushing the index to near 6-month lows. * The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 19 points, or 1.71 percent, at 1,095 points, touching its lowest level … [Read more...]
Baltic Dry Index to Become Tradable After Benchmark Changes
By Jonathan Saul LONDON, Feb 1 (Reuters) - Changes to the Baltic Exchange’s main sea freight index has created the possibility of it becoming a tradable instrument for the first time, industry officials said on Thursday. With about 90 percent of traded goods by volume transported by sea, non-specialist investors want a way capitalise on a recovery in shipping as it emerges … [Read more...]
Decades-Old Baltic Dry Index Gets Revamp as Investor Interest Grows
By Alaric Nightingale (Bloomberg) -- The Baltic Dry Index, a decades-old measure of shipping costs viewed by some investors as a leading economic indicator, is getting a makeover. The measure will now get its heaviest weighting from giant Capesize ships that haul iron ore and coal, while the smallest Handysize carriers are removed altogether. The alterations follow … [Read more...]