London-based shipbroker Clarksons expands its derivatives department with a new forward freight agreement (FFA) desk for container shipping.
The company has brought in Peter Stallion, with an expertise in the container derivatives space, as Clarksons claims in its statement, to help clients hedge against the volatility of container freight rates via futures contracts.
Peter Stallion joins Clarksons in the run-up to several prospective container futures contracts launching on two separate exchanges by the end of the year.
Ben Courtney, managing director, derivatives at Clarksons, said: “We’re delighted to welcome Peter to Clarksons. His expertise is instrumental in establishing our Container FFA desk – now the eighth within the division. The expansion reflects our commitment to growth and to providing a comprehensive risk-management offering to our clients. Container FFAs represent a dynamic and evolving market, with potential to bring much-needed stability to shipping businesses.”
Peter Stallion, container FFA broker, added: “The container freight market is inherently volatile, influenced by a wide range of global factors. Recent years have seen dramatic fluctuations due to events such as the closure of the Suez Canal, drought through the Panama Canal, the influx of new tonnage and shifting contract volumes. Container freight derivatives have emerged as a vital tool in managing this volatility.”
Clarksons is a company providing shipbroking, research, finance, digital tools, port services and green-driven advisory services.
