London: The Chinese demand for freight derivative services continues to grow at astonishing rates, the head of the UK’s Freight Investor Services (FIS) has revealed.
Speaking with our sister title, Maritime CEO, John Banaszkiewicz, managing director of FIS, said: “What is clear is that the appetite for derivatives trading in China is continuing to grow so our challenge is meeting that demand.”
Banaszkiewicz blamed the slow down in dry bulk rates seen this quarter largely on China’s steel mills.
The market, he said, was trying to digest what will happen next with China’s economy.
“The steel industry there is highly political,” he observes, “so when we see announcements we have to wait and see what actually happens.”
For the full interview, click here. [12/05/14]