Shipping coal futures launch in Shanghai

Shanghai: Shanghai Shipping Freight Exchange has launched the world’s first coal derivatives for shipping capacity delivery today.

The contracts will provide better insight into domestic shipping rates as well as strengthening China’s position in pricing and more experience in developing financial products for the shipping industry.

The exchange will initially offer 12 contracts, ranging from January 2014 to December 2014. The initial trading margin is 10% of contract value, rising to 30% in the delivery month. [10/10/13]

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