Bousini, Fotini

2020-06-10T00:00:35Z

https://repository.ihu.edu.gr//xmlui/handle/11544/29519

Forward freight agreement

Ratio analysis

Derivatives

masterThesis

free

School of Economics, Business Administration and Legal Studies, MSc in Banking and Finance

This dissertation was written as part of the MSc in Banking & Finance at the International Hellenic University. The purpose of this dissertation is to investigate the forward freight agreements (FFAs) and their relationship with the general status of the firm. Initially, there is an introduction of theoretical presentation of derivatives and FFAs, while subsequently it is presented the case study of a shipping firm, Norden A/S. The existence of derivatives is dated several years ago and their use is known worldwide. This is the reason why they have been evolved through the years and have developed different types in order to be used in the markets. The shipping sector also had the need of derivatives, as a hedging tool, and this led to the creation of FFAs. The case study includes the presentation of the firm, Norden A/S, the ratio analysis of it and the empirical study of FFAs. Norden is a very important firm with long course in maritime. Its ratio analysis indicates its profitability, efficiency, liquidity and leverage levels during the time period 2014-2018. As far as the contracts of FFAs, each year the firm decided to buy or sell them depending on its needs of hedging. This is depicted in the results of ratios, as the course of them influences the decisions regarding the sale or purchase of contracts.

Gavalas, Dimitrios

ihu