Are Freight Futures Markets Efficient? Evidence from IMAREX

@inproceedings{Goulas2012AreFF,
  title={Are Freight Futures Markets Efficient? Evidence from IMAREX},
  author={Lambros Goulas and George Skiadopoulos},
  year={2012}
}
The International Maritime Exchange (IMAREX) is the leading regulated marketplace for trading and clearing shipping freight derivatives. We investigate for the first time whether the IMAREX freight futures market is efficient over the daily and weekly horizons. To this end, we address the question in both a statistical setting and an economic setting by employing an extensive dataset of freight futures prices. In the statistical setting, we form both point and interval forecasts using… CONTINUE READING
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