The European Energy Exchange (EEX) is launching an index to show the cost of carbon to the dry-cargo shipping industry.

The zero-carbon freight index to be published by the German clearing house from 12 July will show a daily “synthetic” freight forward agreement (FFA) rate inclusive of 100% carbon reduction.

The index will initially publish prices for capesize and panamax FFAs.

Richard Heath, EEX's head of global commodities, told a webinar on Thursday that price information would be taken from the freight derivatives and emissions futures markets.