Intercontinental Exchange Inc. said it would offer tanker derivatives contracts based on a route outside the Strait of H | Hanami
Intercontinental Exchange Inc. said it would offer tanker derivatives contracts based on a route outside the Strait of Hormuz, as the oil shipping industry’s main benchmark continues to be upended by the Iran war.
The exchange on Monday announced two new so-called forward-freight agreements, covering voyages from the Gulf of Oman and West Africa.
The hostilities in the Persian Gulf and the prolonged disruption to oil shipments through Hormuz, and more recently in the Red Sea, have forced owners to reroute tankers and buyers to tap alternative supplies, requiring pricing risks to be reassessed.
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