Seaborne trade in bulk commodities remains the backbone of globalisation with more than 11 billion tonnes of cargo carried annually. Freight rates in the dry bulk sector can be extremely volatile, rallying or declining by thousands or even tens of thousands of dollars in days.
These levels of unpredictability mean that forward price transparency and the ability to manage price risks with financial derivatives are essential tools for any organisation with exposure to shipping rates.
|Time Charter: CPT, PTC, STC, SPT, P5TC, H7TC |
Time Charter Trip: P1A, P1A_82*, P2A, P2A_82*, P3A, P3A_82*,
P1E, P1E_82*, P2E, P2E_82*, P3E, P3E_82*, P6_82*
|Voyage: C3E, C5E, C7E|
1,000 metric tons
FINAL SETTLEMENT PRICE
The floating price will be the end-of-day price as supplied by the Baltic Exchange.
Exception for P1A, P1A_82*, P2A, P2A_82*, P3A, P3A_82*: Final settlement price will be the mean of the last 7 Baltic Exchange spot price assessments in the expiry month.
CPT, PTC, STC, SPT, P5TC: Months, quarters and calendar years out to a maximum of 72 months
C3E, C5E, C7E, P1A, P2A, P3A, P1E, P2E, P3E: Months, quarters and calendar years out to a maximum of 36 months
At 13:00 hours (UK time) on the last business day of each month within the contract
*Available as of May 9th 2022
Contract Specifications – Options
|Time Charter: OCPM, OPTM, OPSM, OP5M|
|CONTRACT SIZE||1 day|
|MINIMUM TICK||US$ 0.01|
|AUTOMATIC EXERCISE||Options which are in the money in relation to the Final Settlement Price are exercised automatically.|
|FULFILMENT||Options are fulfilled by booking in the corresponding futures position at the respective exercise price after the option is exercised.|
|CONTRACT SERIES||CPT, PTC, STC, SPT: Months, quarters and calendar years out to a maximum of 36 months|