The world’s shipping industry is approaching 2004 with optimism, analysts agree, thanksto rising freight rates across the tanker, container and dry bulk markets. Asa result, the freight derivatives market looks set to explode as shipping companiesand oil producers in particular are tipped to increase their freight hedgingactivities to mitigate against soaring freight costs.
According to research by professional services firm Deloitte & Touche, 39%of senior executives interviewed from 43 of
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