海洋运输运价保值市场的研究和创新

国际上创设的多种运费衍生市场，理论上能够起到运费保值的作用，但因市场交易清淡，保值范围非常有限。针对国际集装箱运输市场的特点，本文提出了运费保值市场的架构：创设以做市商为中心的、零售性质的远期运费合同市场，以利于中小型外贸公司规避运价的不确定性，并建立集装箱远期运费协议市场，以便做市商、大货主和大船运公司在衍生市场进行运费保值。

Study and Innovation on Freight-Keeping Market of Sea Transportation

Theoretically, many kinds of freight derivatives market established in the world can play the role of keeping freight stable, but their keeping scope is limited by thin transaction volume. In the light of the features of container transportation, the frame of freight keeping market is presented in the paper, in which a retail market of Forward Freight Contract centralized by market maker is established to help small-medium foreign trade firms to eliminate price uncertainty and a market of Forward Freight Agreement is established to help market makers, large companies to hedge freight.