Race to replace Enron in freight

Enron’s bankruptcy has left a vacant brokers’ position in the small but growing freight derivatives market, which is being eyed up by a number of players. Enron had been one of the main market-makers in the forward freight agreements market, with around 20% of the total share.

Kevin O’Connor, chief operating officer at freight trading platform Levelseas, says his company is considering expanding into the market-making role left by Enron. But he emphasised that this would require careful