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SGX reports 19% jump in FFA contracts in H1 2020

The Singapore Exchange (SGX) reported a 19% jump in FFA (forward freight agreements) volume in the first half of the year powered by iron ore trade

SGX, which also owns the Baltic Exchange, reported that FFA volume leapt 19% in Q1 to 582,000 contracts. The exchange said this gave it a 57% share of the global market.

Powering the FFA market in the first half was iron ore activity which passed the 1bn tonne level in the first half of 2020. SGX said that interest in coking coal hedging also remained elevated.

“Covid-19 uncertainties and elevated geopolitical tensions continue to fuel market uncertainties,” SGX said.

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