Richard Bowler, deputy head of shipping products, and Andy Hartree, head of commodities, will jointly run the service from the bank’s London office.
The International Maritime Exchange (Imarex), an Oslo-based shipping derivatives exchange, estimates the volume of freight derivatives transactions could hit $19 billion this year. Last year, the market was valued at $8.5 billion.
The Edinburgh-based bank hopes to use its position as the world’s second largest ship finance company to take advantage of this growing market.
The service comes at a time when shipping rates around the world are rising steeply, mainly due to higher demand from China.