ICAP Shipping Announces Strategic Market Data Partnership with The Journal of Commerce
LONDON, Feb. 15, 2012 /PRNewswire/ — ICAP Shipping, the shipping arm of ICAP plc, the world’s leading interdealer broker, today announced a strategic partnership with The Journal of Commerce (JOC). JOC is published by UBM Global Trade, the leading provider of proprietary data and news in the commercial maritime, rail, trucking, warehousing and logistics industries. Through this partnership ICAP Shipping and JOC will share derivative and physical trade market data, including ICAP Shipping’s Forward Curve on swap agreements settled against the Shanghai Containerised Freight Index (SCFI).
Containerised freight swap agreements allow users to lock in future cash flows of containerised cargo. Prices of those derivative contracts will be published in The Journal of Commerce as well as on JOC’s website.
Together ICAP Shipping and JOC will publish a joint market report including U.S. government trade data sourced from PIERS, a UBM subsidiary, covering all major ports in the United States.
Kai Miller, responsible for the development of ICAP’s Container desk said: “Our clients will receive essential market intelligence and will be able to base trade decisions on an unrivalled data source from the physical market. We are delighted to be strengthening our presence in the USA by working with an institution like the JOC.”
Peter Tirschwell, Senior Vice President for Strategy for UBM Global Trade, said: “Swaps and index-linked container shipping contracts are playing an increasing role in global trade. This will be a major topic of dialogue at the upcoming JOC Trans-Pacific Maritime conference in Long Beach on March 5-7. As the leading information provider for all involved in the container shipping industry, the JOC is proud to provide our unique data and analysis to the rapidly growing community of traders in that market segment.”
About ICAP Shipping
ICAP Shipping offers a broad spectrum of shipping services, including dry cargo and tanker chartering, sale and purchase, freight derivatives and research. The company operates out of London, Singapore, Stamford (Connecticut), Shanghai, Hamburg and Gibraltar. Additional information can be found at www.icapshipping.com
About UBM Global Trade
UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company’s portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM plc, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).
SOURCE UBM Global Trade