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Baltic Exchange
The Baltic Exchange (incorporated as The Baltic Exchange Limited) is a British financial services company and membership organisation for the maritime industry, and freight market information provider for the trading and settlement of chartering and derivative contracts.
Situated since Edwardian times at 24-28 St Mary Axe in the City of London, the building was destroyed by a bomb in 1992. Its headquarters are now at 77 Leadenhall Street, with further offices in Europe, across Asia, and in the United States.
Its international community of 650 member companies encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic Exchange: its members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels.
The Baltic Exchange traces its roots back to 1744 at the Virginia and Baltick Coffee House on Threadneedle Street, near the Royal Exchange. With the rapid expansion of Britain's network of global trade, London's mercantile coffee houses operated as a maritime commercial node for communication and business. As British influence in trade to Virginia began to wane after American Independence, focus shifted to the Russian Empire and other emerging markets.
Incorporated as a private limited company with shares owned by its members on 17 January 1900, the Baltic Exchange was acquired in November 2016 by the Singapore Exchange (SGX) and remains headquartered in London.[citation needed]
The exchange provides daily freight market prices and maritime shipping cost indices which are used to guide freight traders as to the current level of various global shipping markets, as well as being used to set freight contract rates and settle freight futures (known as Forward freight agreements or FFAs). Historically operating on its trading floor, Baltic members' transactions are nowadays primarily conducted via other means of communication (eg. telephone, e-mail, instant messaging etc), although face-to-face client meetings remain integral to building trust.
The exchange is the source of market-wide information and publishes seven daily indices made up from a suite of "wet" (oil tanker) and "dry" (bulk carrier) bench-marked time-charter and voyage routes:
In April 2018, the Baltic Exchange announced a global container index called the Freightos Baltic Index (FBX) in partnership with Freightos. Liquified natural gas (LNG) assessments launched in 2019.
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Baltic Exchange
The Baltic Exchange (incorporated as The Baltic Exchange Limited) is a British financial services company and membership organisation for the maritime industry, and freight market information provider for the trading and settlement of chartering and derivative contracts.
Situated since Edwardian times at 24-28 St Mary Axe in the City of London, the building was destroyed by a bomb in 1992. Its headquarters are now at 77 Leadenhall Street, with further offices in Europe, across Asia, and in the United States.
Its international community of 650 member companies encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic Exchange: its members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels.
The Baltic Exchange traces its roots back to 1744 at the Virginia and Baltick Coffee House on Threadneedle Street, near the Royal Exchange. With the rapid expansion of Britain's network of global trade, London's mercantile coffee houses operated as a maritime commercial node for communication and business. As British influence in trade to Virginia began to wane after American Independence, focus shifted to the Russian Empire and other emerging markets.
Incorporated as a private limited company with shares owned by its members on 17 January 1900, the Baltic Exchange was acquired in November 2016 by the Singapore Exchange (SGX) and remains headquartered in London.[citation needed]
The exchange provides daily freight market prices and maritime shipping cost indices which are used to guide freight traders as to the current level of various global shipping markets, as well as being used to set freight contract rates and settle freight futures (known as Forward freight agreements or FFAs). Historically operating on its trading floor, Baltic members' transactions are nowadays primarily conducted via other means of communication (eg. telephone, e-mail, instant messaging etc), although face-to-face client meetings remain integral to building trust.
The exchange is the source of market-wide information and publishes seven daily indices made up from a suite of "wet" (oil tanker) and "dry" (bulk carrier) bench-marked time-charter and voyage routes:
In April 2018, the Baltic Exchange announced a global container index called the Freightos Baltic Index (FBX) in partnership with Freightos. Liquified natural gas (LNG) assessments launched in 2019.
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