BALTIC EXCHANGE AND CASS LAUNCH NEW SHIPPING RISK MANAGEMENT TRAINING COURSES
The Baltic Exchange and the Centre for Shipping, Trade & Finance at London’s Cass Business School unveiled plans today (10 March) to deliver a series of executive courses focusing on the management of a range of financial risks in the shipping markets.
The two day course “Shipping Risk Management” will cover freight, bunker, ship price, credit, foreign exchange and interest rate risk and will be held in London, Hamburg, Athens, Hong Kong and Singapore during 2005. The course will be delivered by the Centre for Shipping, Trade & Finance through Cass’s Executive Education division, CassExec.
Baltic Exchange chief executive Jeremy Penn commented:
“I am delighted that the Baltic Exchange, the world’s only source of independent maritime market information and the Centre for Shipping, Trade & Finance at Cass Business School, renowned for educating so many of our industry leaders, will be working together to provide an independent overview of the financial risks facing the shipping markets and the various physical and derivatives tools that are available to help mitigate these issues.”
Course leader Dr Amir Alizadeh said:
“The shipping markets are becoming increasingly risky as fluctuations in freight rates and ship prices have increased substantially. This calls for prudent control of not only freight rates and ship prices, but also a range of other financial risks. By attending this course participants will learn how to analyse and measure the impact of financial risks involved in shipping investment and operations as well as select and execute the right strategy to minimise these risks and stabilise their cash flow.”
The Baltic Exchange will continue to run its successful Practical Chartering and Freight Derivatives courses with the Cambridge Academy of Transport.
ENDS
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Notes to editors
Click here to download full course details.
Course dates:
2005
London 12-13 May
Hamburg 2-3 June
Piraeus 28-29 September
Hong Kong 31 Oct - 1 Nov
Singapore 3-4 Nov
2006
Oslo 15-16 March
New York 3-4 April
London 10-11 April
Piraeus 15-16 May
Singapore 5-6 July
Piraeus 25-26 September
London 1-2 November
Dubai 22-23 November
Course outline
• Characteristics of freight markets and markets for ships;
• Market segmentation and sectoral differences in shipping markets;
• Sources of risk in shipping finance and operations;
• Risk analysis and comparison of risks across different shipping sectors;
• Measuring and estimating Value at Risk (VaR) in shipping investment and operations;
• Introduction to derivative markets and pricing derivative instruments;
• Hedging ship price fluctuations using Forward Sale & Purchase Agreements;
• Using derivatives for freight risk management – from BIFFEX to FFAs;
• Hedging bunker risk using bunker forward and swap contracts;
• Using derivatives for hedging financial risk (foreign exchange & interest rates);
• Credit risk measurement and management; use of credit derivatives.
The course leaders, Dr Amir Alizadeh and Dr Nikos Nomikos, are both internationally recognised academics in the fields of shipping and commodity finance, and risk management. Their theoretical and applied research work has been published in leading academic and professional journals and they also provide consultancy services to the industry on different aspects of commodity and shipping risk management.
Cass Business School
Cass Business School is a school of City University and is one of Europe’s leading providers of business and management education at both undergraduate and postgraduate levels. Based in the City of London, the School offers a suite of specialist finance-related Masters' Programmes, meeting the needs of the City of London and other international business capital cities, and an MBA which serves their general management requirements. Cass Executive Education (CassExec) delivers development and leadership programmes designed to meet the needs of corporate clients.
The Centre for Shipping, Trade & Finance at Cass Business School has been at the forefront of providing education for the shipping and banking industry through its MSc courses as well as providing a forum for international dialogue between industry, government and academic leaders for over 20 years. The Centre is also renowned internationally for producing innovative research in modeling and forecasting, as well as in analysing shipping risk and risk management.
The Baltic Exchange
The Baltic Exchange is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 500 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic Exchange.
