Members of the Singapore Shipping Association (SSA) have read with interest the recent announcement by the Singapore Exchange Ltd (SGX) in its bid to acquire the Baltic Exchange.
Mr Esben Poulsson, President of SSA said: “We understand that for some time, the Board of the Baltic Exchange, which traces its origins back to 1744, has been considering a number of strategic options regarding future ownership of this venerable institution, and that a number of options have been under consideration.
“In as much as the SGX is in itself a commercial organisation, listed on the Singapore Stock Exchange, the SSA is not in a position to comment on the reasons behind SGX’s decision to make a bid. But clearly, the SGX, no doubt, sees both value and synergies through such an acquisition.
From the SSA’s perspective, any development that promotes Singapore’s position as a leading international maritime centre and enhances its status as an international financial centre, is to be welcomed.”