Dalian Commodity Exchange launched shipping futures research and development as early as the year of 2013, it is now moving to the period of product launching process which would be necessary to get cooperation and support from leading shipping industry players, said Wang Feng Hai, general manager of Dalian Commodity Exchange.

It is the first cooperation agreement Dalian Commodity Exchange has secured from the large-sized state-owned shipping company, which could help the Exchange to move into the development of shipping futures.

“Currently, we are in the researching period of shipping futures, it is a long journey ahead of the product launch,” an official said to Seatrade Maritime News, “we cannot provide details at the current stage on what shipping futures service we could finally offer.”

The cooperation is expected to be a win-win move for state-owned companies and futures industry players to jointly develop products for shipping and the overall futures market, Han Jun, chairman of Cosco Shipping Logistics said.

Founded in 1993, the Dalian Commodity Exchange is a futures exchange approved by the State Council and regulated by China Securities Regulatory Commission. It has already become a leading agricultural futures market as well as for oils, plastics, coal, metallurgical coke, and iron ore.