London’s Baltic Exchange has revealed its best-ever year for tanker derivatives deals.

Both clean and dirty vessel sectors saw volumes increase, leaving the annual total of forward freight agreements (FFAs) at 735,000 lots, up 33% on 2021.

Dry FFAs fell to 2.2m lots, down 12% from the previous 12 months.

Options trading volumes in the dry market came in at 395,000.