US financial services company Intercontinental Exchange will launch four container freight futures covering freight shipping routes between the US, Asia and Europe, indexed to the New York Shipping Exchange’s (NYSHEX) freight indices (NYFI) price assessments.

The contracts are expected to launch on April 7, subject to regulatory approval.

ICE’s US-denominated cash-settled container freight futures include on the transpacific to the east and west coasts, the transatlantic and Asia-Europe. 

“ICE’s new global container freight derivatives are the first of their kind for ICE, providing new tools for risk management in the shipping industry,” said Jeff Barbuto, senior vice president of global oil markets at ICE. “The contracts will be supported by ICE’s network of extremely liquid energy markets – the largest in the world – providing precise risk management tools to manage volatility across global supply chains.”

“ With the launch of ICE’s new freight futures, market participants can far more easily hedge against unexpected swings in the market price,” said Gordon Downes, CEO and co-founder of NYSHEX. 

The NYSHEX container freight contracts will join ICE’s global oil markets which include ICE Low Sulphur Gasoil.