In the wake of increased volatility and growth in shipping
markets, New York Mercantile Exchange (Nymex) has announced
plans to offer forward freight agreements as early as April,
bringing it into competition with Oslo's International Maritime
Imarex offers drybulk and tanker futures. By contrast, Nymex's
plan was to offer only the latter. A Nymex spokesperson said
that trading freight is a natural move for commodities market
participants and insisted that the exchange has seen strong
interest from them.
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