London's Baltic Exchange Sets Up in China

MarineLink.com
Tuesday, September 17, 2013

London headquartered bulk shipping exchange, the Baltic Exchange has opened a new office in Shanghai. The exchange, whose members comprise the world’s leading shipping, chartering and broking companies, provides data on the cost of moving bulk commodities such as iron ore, coal and oil by sea.

The Baltic Exchange is best known in China as the publisher of the daily Baltic Dry Index, an independent assessment of the dry bulk shipping markets. Many major Chinese corporations importing bulk commodities rely upon the Baltic Exchange’s assessments to deal with their ocean transportation needs.

The move to Shanghai is designed to build on relationships between Chinese bulk shipping interests and the rest of the world. By joining the Baltic Exchange, Chinese shipowners, shipbrokers and charterers will be able to access global shipping markets more readily.  

Commenting on the Baltic Exchange’s new office, its Chief Executive Jeremy Penn said:
“This will be the first time in the Baltic Exchange’s 269 year history that we have had a physical presence in China.  We hope that our presence in China will help develop relationships between Chinese shipping and trading companies and the international maritime industry.  We believe that Shanghai has an exciting future as a maritime business centre and hope to help facilitate this great trading city’s growth.”

Commenting on the Baltic Exchange’s new office, its Chief Executive Jeremy Penn said:
“This will be the first time in the Baltic Exchange’s 269 year history that we have had a physical presence in China.  We hope that our presence in China will help develop relationships between Chinese shipping and trading companies and the international maritime industry.  We believe that Shanghai has an exciting future as a maritime business centre and hope to help facilitate this great trading city’s growth.”

 


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