FFA volumes rise

Maritime information provider the Baltic Exchange has reported sharp estimated rises in the traded volumes of shipping derivatives - forward freight agreements (FFAs).

After the first full year of formal reporting from brokers in the dry cargo FFA market, volumes are estimated to have increased by 34% year on year, while wet (tanker) FFA volumes grew by an estimated 14% year on year.

Total reported trade volume in dry bulk FFAs for 2007 was 1,868,601 lots (where a lot is a day's hire of a vessel o