Mark Jackson News

For the 10th year in a row, Singapore ranks first in the Xinhua-Baltic International Shipping Center Development Index (ISCDI) Report.Published jointly by the Chinese state news agency, Xinhua and global maritime data provider Baltic Exchange, the report lists Singapore as the global leading maritime center, followed by London and Shanghai.The island nation scored 95.32 out of a possible 100 points, while London scored 83.35 points and Shanghai took third place with 81.58 points.Singapore has held the top position since the index began a decade ago.

Law firm Squire Patton Boggs (SPB) has partnered with freight market information organization The Baltic Exchange to provide a vessel sale and purchase (S&P) transaction closing service for the global shipping industry. The service will be led by SPB’s 30-strong Commodities & Shipping Group co-chaired by Chris Swart and Barry Stimpson, and will be underpinned by the Baltic Exchange’s independent Singapore-based escrow operation.The Baltic Exchange’s escrow service is already used for a wide range of transactional work…

Jeffrey Mountevans has been appointed Chairman of the Baltic Exchange Council, effective January 1, 2023. He succeeds Denis Petropoulos, who has held the position since June 2019.A former Lord Mayor of London (2015/2016) and ex-Clarksons shipbroker, Mountevans is an elected hereditary cross-bench member of the House of Lords where he plays an active role on maritime, defense and Reserves and Cadet issues. He was made an Honorary Life Member of the Baltic Exchange in 2016.The Baltic Exchange Council is the Baltic Exchange's governing body which sets its strategy for membership services…

Singapore has held onto its status as the world's top maritime hub for the ninth consecutive year, according to a recent index report.The Xinhua-Baltic International Shipping Centre Development Index Report, jointly published annually by Chinese state news agency, Xinhua, and global maritime data provider, the Baltic Exchange, has ranked Singapore as the global leading maritime center every year since the report's inception.The city state scored 94.88 out of a possible 100 points, while second on the list was maritime professional services stronghold, London, with 83.04 points.

The Baltic Exchange has appointed former RightShip Chief Executive Martin Crawford-Brunt as a Strategic Carbon Lead. The Baltic Exchange recently introduced carbon assessments alongside its spot dry bulk charter rate assessments and is expanding its role to support market mechanisms aimed at reducing CO2 emissions from the shipping sector.Baltic Exchange Chief Executive Mark Jackson said, “The Baltic Exchange is laying the foundations for consistency in the way in which carbon is priced into seaborne freight.

The freight derivatives markets for both tankers and dry cargo vessels saw increased traded volumes in 2020, according to data released by the Baltic Exchange.Tanker Forward Freight Agreement (FFA) volumes were up 31% on the previous year, reaching 603,261 lots, with a daily record of 33,677 lots achieved on March 16 at a time when Time Charter Equivalent earnings for very large crude carriers (VLCC) exceeded $275,000. Dry FFA volumes hit 1,548,127 lots, up 17% on 2019. Options trading in the dry market hit an all-time high…

Publisher of maritime market benchmarks, the Baltic Exchange, has launched a new service for shipping investors which provides a snapshot five-year view of the financial prospects of dry bulk carriers.The Baltic Exchange Investor Indices are an easy to use online dashboard displaying data relevant to vessel investment decisions, residual value, health of earnings, spot and five-year timecharter earnings; purchase & recycling values; and running costs. It offers a high level of clarity and transparency for investors in capesize, panamax, supramax and handysize vessel types.

Singapore has maintained its position as the world's top shipping hub for the seventh year straight, according to a report published by the Baltic Exchange and Chinese state news agency Xinhua.The Xinhua-Baltic International Shipping Center Development (ISCD) Index, now in its seventh edition, assesses factors including port throughput and infrastructure; depth and breadth of professional maritime support services; as well as the general business environment in its attempt to…

The Baltic Exchange’s subsidiary, Baltic Exchange Information Services Ltd (BEISL), has been authorized by the UK’s Financial Conduct Authority (FCA) as a benchmark administrator under EU Benchmark Regulation. This means that the Baltic Exchange’s daily dry bulk, tanker and gas freight indices are regulated by an EU National Competent Authority.“We are very pleased to have received authorization from the FCA,” commented Baltic Exchange Chief Executive Mark Jackson. “This status ensures that financial institutions…

The Baltic Exchange, the a membership organisation for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts, has launched a new assessment to track the cost of operating vessels.Initially covering a range of dry bulk vessels, the service will also be expanded to tankers and other sectors.The Baltic Operating Expense Index (BOI) will be published quarterly and based on assessments from three leading independent third-party ship management companies: Anglo-Eastern, Columbia Shipmanagement and Fleet Management.Collectively they manage a fleet of over 1,800 vessels.

Cambridge-based data visualization company GeoSpock  is collaborating with the  Baltic Exchange to build the world’s most advanced maritime spatial database."This digital initiative will have a specific focus on shipping emissions, enabling members and the wider maritime market to have unrivaled access to data insights and visualizations," said Baltic Exchange, which is a membership organization for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts.Baltic Exchange CEO, Mark Jackson said: “As our market embraces digital technologies, the Baltic is in a unique position to facilitate the industry’s digital growth.

London's Baltic Exchange is developing a container shipping index with Hong Kong-headquartered group Freightos in another sign that the centuries-old business is moving into new markets. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates, including ones used by the multi-billion dollar freight derivatives market. The Baltic and its partner on the initiative Freightos, a digital container platform which also has a global database of freight rates, said they would be producing a weekly index for container rates on 12 top container routes that would be audited by the Baltic. Going forward the index would allow container rates to become tradable instruments by investors.

The Baltic Exchange said it will introduce a new code of conduct for shipowners, charterers and shipbrokers using the physical shipping and freight derivatives markets.Following a detailed review of the current arrangements led by law firm Norton Rose Fulbright with oversight by the Baltic Exchange Council and the Baltic Membership Council, the New Baltic Code has been drafted to bring together a set of principles and business practices which will be applicable to not only Baltic Exchange members, but also the wider market.

The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that might be used as the LNG market grows, the company said on Thursday. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates, including ones used by the multi-billion dollar freight derivatives market. Singapore Exchange acquired the exchange in 2016 and since then the Baltic has been looking for new markets to develop.

The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates and owns a trading platform for the multi-billion dollar freight derivatives market. SGX's ownership of the Baltic has enabled the exchange to set its sights on developing new areas…

The Baltic Exchange has appointed a new chief commercial officer; Janet Sykes, former head of communications at shipping services provider Clarksons Platou, will join the Baltic Exchange on July 3. Sykes worked at Clarksons Platou between 2010 and 2017 where she was responsible for all internal and external communication and marketing. She was previously head of marketing at the Baltic Exchange (2001-2010) and has previously worked as shipbroker at Howe Robinson (1991-2000). Baltic Exchange chief executive, Mark Jackson, said, “We're delighted that Janet Sykes will be joining the team. She has global shipping experience with a strong focus on the derivative markets and data products.

Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the Singapore Exchange (SGX) has reinvigorated this key international maritime institution, allowing us to grow our leadership profile and play a bigger role than ever before in setting standards, building consensus and leading change in the shipping markets. These are bold plans and will ensure that the Baltic Exchange remains at the heart of the bulk shipping industry for the long-term.

Singapore Exchange has completed its takeover of the privately-owned Baltic Exchange, sealing an 87 million pound ($108 million) deal for one of London's oldest institutions, the groups said on Tuesday. The acquisition is one of the latest developments in a string of mergers, bidding wars and failed deals among global exchanges. SGX's offer also comes as the global shipping industry is struggling with its deepest downturn. "The acquisition ... has been completed today as planned, bringing together complementary strengths of Singapore and London, two of the world's most important maritime centres," the two said in a joint statement. The deal received UK regulatory approval last month after Baltic shareholders unanimously approved the takeover on Sept. 26.

Baltic Exchange on Monday named Mark Jackson, a former Chairman and Director, to replace Chief Executive Officer Jeremy Penn. Baltic Exchange shareholders earlier approved an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal that will give SGX access to the multi-billion-dollar freight derivatives market. Jackson, Chief Commercial Officer of AM Nomikos Group, is expected to take up his appointment early in 2017. Penn announced his intention to stand down last year, the Exchange said in a statement.

So what’s keeping ship operators awake at night these days? Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates, rising costs of fuel and regulatory compliance and a lingering sense that ships are not running as efficiently as they could. The last two topics – reducing fuel costs while complying with emission regulations and improving ship operating efficiency – will take center stage at SHIPPINGInsight 2014, scheduled for Sept. 30 – Oct. 2 in Stamford, Conn.

Two executives from offshore drilling contractor Noble Corp have agreed to settle civil claims they participated in a bribery scheme to obtain permits for oil rigs in Nigeria, days before the case was set to go to trial. Jury selection had been scheduled for next Monday in the U.S. Securities and Exchange Commission's case against Mark Jackson, Noble's former chief executive officer, and James Ruehlen, director of the oil and gas services company's Nigerian subsidiary. The two men were sued under the Foreign Corrupt Practices Act (FCPA), which bans U.S. companies from bribing foreign officials. A federal judge in Houston called off all trial deadlines on Tuesday pending a final settlement. The terms, which must be approved by a judge, were not disclosed in court papers.