Research Article
Volatility Spillovers in Capesize Forward Freight Agreement Markets
Table 1
The information of dry FFAs.
| Route | Segment | Route definition | Size (104 DWT) |
| C3 | Capesize | Tubarao/Beilun + Baoshan | 15 | C4 | Capesize | Richards Bay/Rotterdam | 15 | C5 | Capesize | W Australia/Beilun/Baoshan | 15 | C7 | Capesize | Bolivar/Rotterdam | 15 | BCIT/C average | Capesize | Time-charter average | 17.2 | P1a | Panamax | Transatlantic | 7.4 | P2a | Panamax | Cont. trip far east | 7.4 | P3a | Panamax | Transpacific round voyage | 7.4 | BPI T/C average | Panamax | Time-charter average | 7.4 | BSI T/C average | Supramax | Time-charter average | 5.2 | BHSI T/C average | Handy | Time-charter average | 2.8 |
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