Logistics is the backbone of industry and commerce. As a discipline, it describes the management and coordination of activities along supply chains. These activities include freight transport, storage, inventory management, materials handling and related information processing. A large part of...

Like options on stocks, options on commodities provide firms with protection against adverse price movements. Many firms procure commodity at an offshore location and transport it via ocean freight. Increased globalization and increased demand for ocean-based transportation has resulted in ocean...