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Last modified: 2023-06-03 by 
zachary harden
Keywords: the baltic exchange |
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![[The Baltic Exchange]](../images/i/int$balx.gif)
image by Zachary Harden, 1 January 2021
See also:
The Baltic Exchange (incorporated as The Baltic Exchange Limited) is
a membership organisation for the maritime industry, and freight
market information provider for the trading and settlement of physical
and derivative contracts. It is located in London. 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. Baltic Exchange 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 the establishment on May
24, 1744 of the Virginia and Baltick Coffee House (a coffe house was a
place where foreign trade was carried out mainly during the XVIIth and
XVIIIth centuries).
At the end of 1891, the London Shipping Exchange was formed to
represent the interests of shipowners and operators. By the end of the
nineteenth century, both organisations (the London Shipping Exchange
and the Baltic Exchange) had out-grown their respective premises and
in 1898 a merger was proposed.
It was incorporated as a private limited company with shares owned by
its members on January 17, 1900 as “The Baltic Mercantile & Shipping
Exchange Ltd†with the new building formally opening on April 21,
1903.
In November 2016 the Singapore Exchange (SGX) acquired the Baltic Exchange. 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). (Source)
The organization's flag has a horizontal white background with the logo in the center.
Esteban Rivera, 31 December 2020
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