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As a leading global trader, India should be a major player on the Baltic Exchange's central trading platform to be launched in May covering forward freight agreements (FFA), a hedging tool for shippers, shipping companies and trade financiers, a senior official in the exchange has said.
“We see Indian global traders having a significantly higher role in the FFA trade,” said Mr Philip Williams, Manager for Asia Pacific in the exchange's Singapore representative office. India-based companies were already using the Exchange's daily freight indices and assessments on coal and iron ore trade movements between India, Indonesia, Australia and China, Mr Williams told PTI.
The exchange produces around 50 specific route-based reports daily providing freight rate assessments that are widely used by traders as benchmarks in booking ships and cargo space on both the dry cargo and tanker markets.
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