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The “Trading and Market Volatility” Webinar will be discussing the tumultuous yet opportune economic outlook in 2023. Market conditions for this timeframe are subject to several globally significant geopolitical and economic events.


From China’s move away from its almost 3 years-long “zero covid policy”, the Fed’s rate hike trajectory, EU's energy policy, Russia’s conflict with Ukraine and the resulting sanctions, combined with a major push from the IMO's expectation for shipping to play a major role in reaching ambitious GHG targets - how will these factors affect FFAs margin calculations and risk exposure?

Hosted by Consortium Maritime Trading Ltd, part of Consortium Capital Group.

Trading & Market Volatility Webinar

19 January 2023
10:00 GMT/11:00 CET

The goal of this webinar is to address significant issues currently facing the dry bulk freight derivatives market, rather than promoting any specific products or services.

In order to facilitate open and candid discussions, we will be observing Chatham House rules during the webinar.

We encourage you to send any relevant questions you have for our panelists in advance, either through the registration form or by emailing us anytime before the start of the webinar. Your input will help to ensure that we can address as many important topics as possible.

Topics for discussion

Adding to an already complex market dynamic, fast-incoming decarbonisation regulations are raising concerns for readiness of alternate fuels infrastructure and impacting planning. Will the costs and responsibility of reducing carbon emissions be placed on shipowners or charterers? Would incremental reductions of the cap on carbon allowance and the cost of carbon credits be a risk to shipowners’ profit margins?
Freight Indices Professionals Group
A new independent dry freight index users’ group could be beneficial to the FFA market as a whole. When open and frank discussions take place without traders having to toe the company line, genuine concerns can be raised and are more likely to be resolved when they are identified. Would the formation of such a discussion framework make for a more inclusive market?
Dry Bulk Indices
There are signs of dissatisfaction in the market regarding transparency and reliability with the current dry bulk indices. Can the quality and trust of these financial instruments be improved by introducing different methodologies and market leading artificial intelligence technology?  
Margin Offsetting
Whilst there is no doubt that the FFA market benefits from the existence of a multiple clearing house environment, being charged a secondary initial margin where equal and opposite positions are held in different clearing houses is a matter of contention and financial burden for participants to the market, especially as the contract terms are all identical. Should it be the role of clearing houses to address this issue with their respective clearing members?
Has the FFA trading market improved in the last 3 years? Many potential entrants to the market have criticised the protectionist stance of the broking community and the lack of transparent and unified price reporting as undermining credibility. Are there any new solutions to this issue?

Webinar panelists


Koert Erhardt
Starbulk Carriers

Koert Erhardt is the commercial advisor at Starbulk Carriers and sits on their board as well as on the board of other companies. In the past, he held various leadership positions and attended INSEAD's executive program. Koert has been a consistent supporter of the FFA market since its inception.

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Sander Bots

Sander Bots is a freight derivatives broker with a background in economics, shipping, and finance. He is the managing director of Braemar Securities and has helped develop the company's securities business. In addition, he is a board member of Zuma Labs and a representative for the FFA market to the Baltic Index Council.

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Antoine Grisay

Antoine Grisay is the Co-Founder and Co-CEO of Shipfix, a company that offers advanced tools and data intelligence to improve efficiency in the maritime industry. Shipfix's purpose-built messaging platform helps teams share offers, leads, contacts, and business opportunities, improving operating performance and saving time.

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John Banaszkiewicz
Freight Investor Services

John B is the founder of Freight Investor Services, one of the world's leading freight and commodity brokers. Prior, he spent 11 years at Cargill International as a freight and grain trader. Known for his efforts to build liquidity in the multi-billion-dollar FFA market, he encourages dialogue between users and brokers. John was the first Chairman of the FFABA and also of the Iron Ore and Steel Derivatives Association. He is a regular speaker at events and is on the Board of Directors of Burnley Football Club.


Mark Williams
Shipping Strategy

Mark Williams is a maritime analyst and consultant with 25 years of experience. He is the Founder and Managing Director of Shipping Strategy, a boutique consultancy and training business that provides market intelligence and insight to clients such as governments and ship owners. A regular speaker at international shipping conferences and a published author on shipping and operational research, Mark also offers training services through, a website that covers shipping's energy transition.


Philippe van den Abeele
Consortium Maritime Trading

Philippe is the founder and CIO of Consortium Maritime Trading Ltd and has over 30 years of experience in commercial shipping and commodity derivatives. He has been instrumental in the development of the freight derivatives markets since 1985 and has held leadership positions at Clarkson Securities and H Clarkson. He co-founded and served as Managing Partner of Castalia Fund Management, and has held roles as the Past Chairman of the Freight Market Users' Group and a long-time member of the Baltic Exchange.


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