Unique dry bulk freight futures contracts to launch in Shanghai

Shanghai: The Shanghai Shipping Freight Exchange will launch dry bulk freight futures contracts on June 18.

The monthly contracts will be for six months forward and there will be four quarterly contracts focusing on freight trading for capesizes, panamaxes and supramaxes.

The contracts will be priced in dollars but settled in yuan against physical ship deliveries if trading parties still hold open interests past the last trading day, which would be the second Friday of the prompt month.  [03/06/14]

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