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Maritime Business Freight Risk Management

In: The International Handbook of Shipping Finance

Author

Listed:
  • Manolis G. Kavussanos

    (Athens University of Economics and Business)

  • Ilias D. Visvikis

    (World Maritime University)

Abstract

Due to the volatile nature of the shipping industry in rates and prices, market practitioners attempt to minimize the impact of adverse price movements of freight rates, bunker fuel prices, interest rates and foreign exchange rates, among others, through the use of financial derivatives products.1 This risk management process has enabled companies operating in the industry to stabilize cash flows (revenues and costs), have more effective budgets, secure their shipping loans, and protect their corporate firm values. This chapter presents an overview of the various derivatives products and markets available to hedge the most important source of risk in the industry—namely, the freight rate risk—and to provide the trade specifics, uses and changes in regulations of freight rate derivatives.2

Suggested Citation

  • Manolis G. Kavussanos & Ilias D. Visvikis, 2016. "Maritime Business Freight Risk Management," Palgrave Macmillan Books, in: Manolis G. Kavussanos & Ilias D. Visvikis (ed.), The International Handbook of Shipping Finance, chapter 15, pages 337-370, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-46546-7_15
    DOI: 10.1057/978-1-137-46546-7_15
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