Newly appointed Baltic Exchange CEO Mark Jackson revealed the Exchange’s plans to cover the container and LNG markets and to offer new indices.
The recent acquisition of the Baltic Exchange by the Singapore Exchange (SGX) has reinvigorated the key international maritime instituti[ds_preview]on, said Jackson. »In 2017 we will be providing more freight market benchmarks and move into the LNG and container spaces.«
New initiatives unveiled during Singapore Maritime Week also include efforts to receive more input from Asian shipping players and expand forward freight agreement offerings, as well as updating ethics codes and improving services for members. The Baltic Exchange will also be creating the Baltic Asia Advisory Committee whose key role will be to represent the voice of the shipping community in Asia.
On the regulatory side, the Baltic Code currently contains guidance for shipbrokers, owners and charterers, highlighting best and unacceptable practices and underpins our dispute resolution service. The Baltic Exchange intends to enhance the Code to provide greater clarity on the role of the shipbroker and raise global freight trading standards.
The Baltic Exchange has ambitious plans for assisting in the development of a digital maritime market infrastructure to integrate the risk management of cargo and freight. This will involve working with the industry to develop tools that deliver real-time cargo and freight contract management, messaging workflows and data standards.
