This article is concerned with the hedging effectiveness of futures contracts whose underlying asset is an index, when the structure of this index is changing. The case of the freight futures (BIFFEX) contract is examined here. Investigation of this issue is particularly interesting as the...

About the Editors -- Book Chapter Reviewers -- Preface -- Contents -- About the Contributors -- List of Abbreviations -- List of Figures -- List of Tables -- 1: Shipping Markets and Their Economic Drivers -- 1.1 An Introduction to Shipping -- 1.1.1 The Maritime Value Chain -- 1.1.1.1 Ship Owner...