Presentation on theme: "Asia FFABA Freight Derivatives Forum Singapore"— Presentation transcript:
1 Asia FFABA Freight Derivatives Forum Singapore 6 December 2012The Future of FFA Markets Philippe van den Abeele; MD, Castalia Fund Management Limited Michael Nagler ; Head of Freight, EDF Trading Singapore Pte Ltd Raghu Raghunath; Senior Executive Vice President, Noble Chartering Group Mikal Bøe; Director Risk Management, Thoresen Shipping Services Morten Erichson; President, NOS Clearing ASACastalia SpringsA Source of Inspiration
2 Setting the scene Tonnage oversupply Uncertain macroeconomic picture Master plan of Chinese shipbuildingIncreasing regulationFFA brokerage shrinking pieBaltic's position challengedDiminishing role of financial institutionsLow markets/low volumesScreens still backstage roleHigh trading & clearing costsCastalia SpringsA Source of Inspiration
3 Back to the future Increase scrapping Improvement of world economy Shipbuilders going bustWill regulation stick?Leaner and meaner brokersGlobal opportunity for the BalticIncreasing role of private money poolsIt can only get better…Will screens ever be prominent?Transaction costs have to be reducedCastalia SpringsA Source of Inspiration
4 Hurdles on the horizon Long period of economic stagnation Shipbuilding is politically sensitiveExcessive regulation/witch huntIntegrity of rival freight indices providersIs financial freight too specialised?Timing of shipping recoveryIs excessive regulation compatible with lower transaction costs?Castalia SpringsA Source of Inspiration
5 Castalia Springs Limited Investment Manager: Castalia Fund Management Limited c/o Close Brothers (Cayman) Limited 4th Floor, Harbour Place P.O. Box 1034GT 103 South Church Street Georgetown, Grand Cayman KY Cayman Islands Telephone: +1 (345) Fax: +1 (345) Subadvisor: Castalia Fund Management (UK) Limited 3 Pembridge Square, Flat C London, W2 4EW, United Kingdom Telephone: +44 (0) Fax: +44 (0) Managing Director: Philippe van den AbeeleCastalia SpringsA Source of Inspiration
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