Oslo Børs has launched SHIPPING DNM, an exchange traded product that tracks the Oslo Børs Shipping Index (OBSHX), which is now calculated and distributed in real time, allowing investors to trade the Norwegian shipping sector.
The index consist of 13 shares with a total market value of NOK20.6bn ($2.6bn) and has been designed to be investable so that it is easy for banks and fund managers to offer products and funds that track the index.
Oslo Børs says that companies have to meet a liquidity requirement to be included in the index, which will be revised twice a year.
The shares listed in the index are American Shipping Company, Avance Gas Holding, BW LPG, Frontline, Golden Ocean Group, Höegh LNG Holdings, Jinhui Shipping and Transportation, Odfjell ser. A, Stolt-Nielsen, Tanker Investments, Wilh. Wilhelmsen, Wilh. Wilhelmsen Holding ser. A and Wilh. Wilhelmsen Holding ser. B.