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樂山翻譯公司關(guān)鍵字：economic situation changes, the route changes direction and the total freight tariff level the same trend of change in direction; the other is without rules risk that some routes due to special reasons, caused the ups and downs of the freight route. Such risks can be no rules and technical aspects from the management to take some measures to be dispersed and reduced; but there are rules risk mainly caused by the macroeconomic climate, such as interest rates, economic cycle factors, political factors, from the management and technical measures becomes ineffective, and freight futures price risk transfer, hedging and other functions that may be better to avoid or reduce this risk. This is where the production mechanism freight futures.Case 2 freight index futures operationsTo better illustrate the operation of freight index futures process, the following gives an actual case. There are a boat owner, the lease is expected to end in mid-May. In mid-March, have not found the right owner charterer. BFI was 1 583, July 1523 forward freight index for mid-March the charter market Monrovia / Rotterdam freight per ton $ 6.90. Based on the analysis of the market, owners that by mid-May, the charter market Monrovia / Rotterdam tariffs fall, the need for preservation treatment. He chose BIFFEX the freight index futures hedging. Accordance with the prevailing tariff levels, shipping 90,000 tons of iron ore to 621,000 freight revenue dollars ($ 6.90 × 9 萬 t), so the owner first contract July 40 to sell long-term freight market, Total income of $ 609,200 ($ 10 / 1 523 × 40). To early May, BFI to 1 391, the charter market Monrovia / Rotterdam freight per ton fell$ 6.35. Boat owners will be leased at market prices others shipped 90,000 tons of iron ore, a total income of freight 571 $ 500 ($ 6.35 × 9 tons). Less revenue than originally planned $ 49,500. Then in July, with the long-term charter market freight index also fell, down to 1 400, the owner will be from the forward freight market in mid-March to sell 40 contracts to buy back a total cost of $ 560,000 ( $ 10 / 1 400 × 40), and sell the contract in mid-March after balancing the income, profit of $ 49,200 (609200-560000 U.S. dollars). Freight index futures market profits and offset the loss of the charter market, the owner of a net loss of $ 300 ($ 49,500 - $ 49,200). In other words, the owner made the preservation process, even in the charter market, falling freight rates, or to secure $ 6.897 per ton of freight, almost did not suffer any loss. If the market changes and the owner of the forecast the contrary, the owner will be more than originally planned freight revenue. However, he had to have sold the
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