The Baltic Exchange
Despite radical changes to trading practices over the last few decades, London has retained its status as the maritime and financial centre of the world. A key player in this thriving capital city is the Baltic Exchange. Founded some 250 years ago, the Baltic has readily adapted to industrial and technological progress whilst still remaining true to its original purpose - to facilitate the business of international bulk shipping.
The Baltic Exchange's market share comes close to a phenomenal 50% of the tanker and 30-40% of the dry bulk chartering business worldwide. And with around 2,000 brokers operating 24 hours a day, the level of expertise and productivity is unmatched.
The Baltic also ranks as the world's foremost sale and purchase market. Over half the world's new and second hand tonnage is bought and sold by Baltic members in a market worth USD 34 billion annually.
The Baltic market is the only international, self-regulated shipbroking market in the world. Brokers undertake to abide by a code of business conduct based on the motto "Our Word Our Bond" and those who breach the code are disciplined or expelled. The Baltic Directors are responsible for regulation and will help resolve disputes between members and also between members and non-members. A mutually acceptable solution which avoids legal action is usually the result.
The Exchange publishes a wide range of independent freight market information which is internationally recognised, and provides several barometers of the cost of transporting both dry and wet cargoes around the world. Experienced shipbrokers working at the Exchange collect market data from a number of major broking houses located across the globe.
Contact details
The Baltic Exchange
St Mary Axe
London EC3A 8BH
Tel: 020 7369 1648
Fax: 020 7369 1622
www.balticexchange.com