Intercontinental Exchange Launches New VLCC Tanker And Container Freight Contracts

(RTTNews) - On Monday, Intercontinental Exchange (NYSE: ICE) launched new tanker and container freight futures and options as trading volume across its freight markets increased 33% year-to-date. ICE is a leading provider of financial market technology and data for global capital markets.

ICE launched its first tanker freight futures for the TD34 Gulf of Oman-China and TD15 West Africa-China VLCC routes, giving customers another way to hedge freight costs amid restricted access through the Strait of Hormuz.

It also launched two cash-settled container freight options for Asia-North Europe and Asia-U.S. West Coast routes.

The new products expand ICE's freight complex to more than 90 contracts across over 30 global routes, helping customers manage shipping costs and freight rate volatility.

On the NYSE in the after-hours, the shares were trading 0.01 percent up at $152.15, after closing Monday's trading 1.33 percent higher.