Breakwave Advisors, in partnership with ETF Managers Group, has launched the Breakwave Dry Bulk Shipping exchange-traded fund.
The latest dry bulk news
The charter is due to commence on 25 March 2018 and will last between 11 - 13 months.
A £30 million investment in LCC Group’s Belfast-based coal facility places Belfast at the heart of the high-tech coal industry.
voestalpine is using six new Liebherr LH 60 M Industry Litronic material handlers at its steel scrapyard in Linz.
The Port of Antwerp signs a Memorandum of Understanding with the Brazilian minister of Transport, Ports and Civil Aviation for the development of specialised training centres for maritime professionals.
The British Ports Association publishes a new report which reveals that UK ports and terminals have approximately £1.7 billion worth of port infrastructure development in the pipeline.
Wah Kwong releases a statement regarding missing crewman who fell overboard from dry bulk carrier Lara Venture, at the Newport Anchorage in Virginia on 13 March 2018.
ASGCO has revealed that the company raised US$3650 for the Salvation Army and Houston Humane Society.
Chief Financial Officer at the Port of Rotterdam Authority reflects on the Port’s strong results for 2017 and details the scope this leaves for further progression.
The Dutch terminal operator's decision to clear a section of its coal-handling site, in order to diversify into other dry bulk commodities, was prompted by reduced demand for coal storage.
The UK Ambassador to Saudi Arabia, Simon Collis, met the CEO of King Abdullah Port, Rayan Qutub, to discuss cooperation opportunities in re-export zones and logistics services amongst other areas.
ABP’s Port of Ayr in Scotland (UK) celebrates the delivery of a new Liebherr Materials Handler crane.
The Russian Federation’s Deputy Minister of Transport made a visit to Russia’s JSC Vostochny Port to see its measures for the improvement of environmental safety for coal transshipment
Breakwave Advisors, in partnership with ETF Managers Group (ETFMG), has launched the Breakwave Dry Bulk Shipping exchange-traded fund (BDRY). The fund is the first and only freight futures exchange-traded product focusing exclusively on dry bulk shipping. BDRY provides investors direct access to an instrumental part of the global commodity market, that historically has been uncorrelated -with other major asset classes.
BDRY provides long exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices. This offers investors exposure to dry bulk freight without the need for a futures trading account. BDRY is designed to reduce the effects of rolling contracts by using a laddered strategy to buy contracts while letting existing positions expire and settle in cash.
“We are thrilled to bring such an innovative product to the market, allowing investors to participate directly in the exciting world of dry bulk shipping,” said John Kartsonas, Founder and Managing Partner of Breakwave Advisors LLC, a commodity trading advisor based in New York City specialising in shipping and freight investments. “Freight futures have historically exhibited strong cyclical returns, but for most investors it has been a very hard-to-access market. For the first time, through BDRY, a wide range of market participants can now directly access the dry bulk market using a simple, transparent, equity-like investment product.”
“Dry bulk shipping is an essential part of the global commodity markets and a major beneficiary of infrastructure spending,” Kartsonas added. “A highly cyclical industry, dry bulk shipping is in an upturn again following several years of underperformance, in a strengthening commodity environment supported by improved industry fundamentals.“
The fund will hold freight futures with a weighted average of approximately three months to expiration, using a mix of one-to-six-month freight futures, based on the prevailing calendar schedule. The fund intends to progressively increase its position to the next calendar quarter three-month strip while existing positions are maintained and settle in cash. The initial freight futures allocation will be 50% capesize contracts, 40% panamax contracts and 10% supramax contracts, rebalancing annually.
“The dry bulk shipping industry is a critical part of the global commodity market that has been out of reach for the average investor until today,” said Sam Masucci, Founder and CEO of ETFMG. “With the launch of BDRY, we are proud to bring another first-of-its-kind exchange traded product to market alongside our partner Breakwave Advisors.”