▁houses ▁as ▁tools ▁for ▁man aging ▁fre ight ▁rate ▁risk . ▁Rec ently , ▁with ▁comm od ities ▁standing ▁at ▁the ▁fore front ▁of ▁international ▁econom ics , ▁the ▁large ▁financial ▁trad ing ▁houses , ▁including ▁banks ▁and ▁h edge ▁funds , ▁have ▁entered ▁the ▁market . ▁▁ ▁Balt ic ▁D ry ▁Index ▁measures ▁the ▁cost ▁for ▁sh ipping ▁goods ▁such ▁as ▁iron ▁ore ▁and ▁gra ins . ▁The ▁trad ing ▁volume ▁of ▁dry ▁fre ight ▁derivatives , ▁a ▁market ▁estimated ▁to ▁be ▁worth ▁about ▁$ 2 0 0 ▁billion ▁in ▁ 2 0 0 7 , ▁grew ▁as ▁those ▁need ing ▁ships ▁attempted ▁to ▁contain ▁their ▁ris ks ▁and ▁invest ment ▁banks ▁and ▁h edge ▁funds ▁looked ▁to ▁make ▁prof its ▁from ▁spec ulating ▁on ▁price ▁movements . ▁At ▁the ▁close ▁of ▁the ▁ 2 0 0 7 ▁financial ▁year , ▁the ▁number ▁of ▁trad ed ▁lots ▁on ▁dry ▁FF As ▁double d ▁the ▁derived ▁physical ▁product . ▁ ▁Shang hai ▁Sh ipping ▁Fre ight ▁Exchange ▁is ▁the ▁first ▁electronic ▁sh ipping ▁fre ight ▁exchange ▁in ▁the ▁world . ▁It ▁has ▁three ▁lines ▁of ▁business es , ▁including ▁International ▁D ry ▁Bul k , ▁Dom estic ▁Coast al ▁Co al , ▁and ▁International ▁Container . ▁The ▁container ▁fre ight ▁derivatives ▁were ▁launched ▁in ▁ 2 0 1 1 ▁and ▁shortly ▁became ▁the ▁most ▁liquid ▁container ▁fre ight ▁contract s . ▁Based ▁on ▁the ▁success ▁and ▁experience ▁from ▁container ▁fre ight ▁contract s , ▁S SE FC ▁launched ▁coast al ▁coal ▁contract s