Baltic Exchange

RECENT NEWS
Mondo Visione  Jun 28  Comment 
Singapore Exchange (SGX) has agreed with the Baltic Exchange Limited (Baltic Exchange) to extend the period of exclusive discussions regarding a cash offer for 100% of the share capital of the Baltic Exchange (Transaction) from 30 June 2016 to 31...
Mondo Visione  May 25  Comment 
Singapore Exchange Limited (SGX) wishes to announce that it has entered into an agreement with The Baltic Exchange Limited (Baltic Exchange) through which SGX will enter into exclusive discussions with the Baltic Exchange regarding a cash offer...
Reuters  May 11  Comment 
Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its central role in...
Financial Times  Mar 10  Comment 
Modernisation expected to set venerable bourse on course out of market backwaters
Reuters  Mar 7  Comment 
Singapore Exchange's (SGX) bid to buy London's Baltic Exchange is aimed at burnishing its derivatives credentials among ship brokers and commodity merchants, fitting hand in...
Mondo Visione  Feb 26  Comment 
The Baltic Exchange confirms that it has received a number of exploratory approaches and that it is now in confidential discussions with selected third parties regarding its future strategy and ownership. There can be no certainty that an offer...
Reuters  Feb 26  Comment 
* Baltic purchase could help SGX develop new products (Updates with Baltic letter to members)
Reuters  Feb 26  Comment 
Singapore Exchange Ltd (SGX) said it was in talks to buy the Baltic Exchange, the hub of the global shipping market, a purchase aimed at shoring up the Southeast Asian exchange operator's derivatives business.
Channel News Asia  Feb 26  Comment 
"Discussions are still preliminary" for the possible acquisition of The Baltic Exchange, says the Singapore Exchange.
Reuters  Feb 25  Comment 
Singapore Exchange Ltd (SGX) said it had submitted an initial offer to buy the Baltic Exchange, the hub of the global shipping market, a move aimed at shoring up the...




 
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This article is about the Baltic Exchange. For the Index of dry shipping costs operated by the exchange, see Baltic Dry Index (BDI)

The Baltic Exchange acts as the global marketplace for brokering shipping contracts. It is similar to the New York Merc in that it is a medium for buyers and sellers of contracts and forward agreements (futures) for delivery of dry bulk cargo. Unlike the publicly traded exchanges (NYSE, Chicago BOT, Chicago Merc, etc) the Baltic is owned and operated by the member buyers and sellers. In addition to this, the Baltic does not allow speculative players to trade on its exchange.[1] The exchange maintains prices on several routes for different cargoes and then publishes its own index, the Baltic Dry Index (BDI), as a summary of the entire dry bulk shipping market. This index is very important as it can be interpreted as one of the more accurate leading economic indicators. It also shows where end prices are heading for items using the raw materials that are shipped in dry bulk.

History

After spending over 250 years at 30 St. Mary Axe in London, the exchange was the target of an Irish Republican Army terrorist attack. The operations moved to Lloyd's of London while renovations occurred. Once it was agreed upon that the site was far too damaged for a restoration, the exchange moved to its current residence next door at 38 St. Mary Axe.

Notes

  1. http://www.balticexchange.com/default.asp?action=article&ID=2
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