American fund manager Breakwave Advisors is launching the first exchange-traded fund (ETF) focused on freight forward agreements (FFAs). The move will make FFAs more approachable for non-shipping people keen to invest in a sector that is widely tipped to be on an upward curve after many years of recession.
Breakwave Dry Bulk Shipping ETF is likely to start trading next month.
London’s Baltic Exchange, now owned by the Singapore Exchange, is also in the throws of developing a tradable instrument from the Baltic Dry Index.