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The Baltic Exchange

Last modified: 2023-06-03 by zachary harden
Keywords: the baltic exchange |
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[The Baltic Exchange]
image by Zachary Harden, 1 January 2021

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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