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Stepping up a stage

Optimism over the freight derivatives market, which waned a little at the end of last year, is on the rise again, as volumes increase and new players enter. There are still hurdles to overcome though

After an explosion in traded volumes between 2003 and mid-2005, the freight derivatives market looked as if it was settling down to a period of consolidation. By the end of 2005, some of the earlier optimism surrounding the market had waned and some participants were frustrated the market hadn't achieved the level of maturity and sophistication they'd hoped for. When Azimuth, the world's first and

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