Tom Stockton, a London-based FFA broker with Clarksons Platou Futures Ltd, will remain as the Tanker FFABA (FFA Brokers Association) Chair for 2021.

The decision was made following unanimous support from the Tanker FFABA member companies. 

"2020 saw volumes continue to grow in the wet FFA market and also saw TC17 commence trading," Stockton said.  

"Volumes have also improved in the options market. The time horizon of TD3c trades improved markedly and there was a purple patch at the start of December when we traded out to 2023. That was swiftly followed by full calendar strips that included 2024.

"Whilst the outgoing US President contributed to the volatility in the tanker market, I don’t think anyone is expecting things to calm down in his absence.

"There were a number of new entrants in the FFA market last year and liquidity was - and currently is - as good as it has been in my eight years in the market. Here’s to 2021."

Training courses on how to use FFAs are available on the Baltic Exchange website.