FFA在航运市场风险管理中的应用

Application of FFA in shipping market risk management

随着国际干散货贸易的繁荣和运价波动性的加大,在过去几年里FFA市场也得到较大发展。分析国际干散货航运市场的不确定性,介绍远期运费协议(FFA)的含义及其在国际干散货航运市场中的发展情况,探讨FFA风险管理的作用,最后,面对航运市场较大的波动性,提出中国船东和租家必须学会利用FFA这一新的工具进行风险管理的建议。

The volume of FFA trades has significantly increased over the past few years along with the prosperous international dry cargo trade and the volatility of freight rate.This paper analyzes the uncertainty of intemational dry cargo skhipping market.The concept of Forward Freight Ageements （FFA）and its edvelopment in international dry cargo shipping market have been introdued.The risk managemnt function of FFA has been discussed.Finally ,the suggestion that Chinese ship-owners and charterers should make good use of FFA ,the new risk management tool,for hedging has been put forward .