What is Baltic Exchange for shipping industry?

What is Baltic Exchange for shipping industry?

The Baltic Exchange is a London-based exchange that provides real-time maritime shipping information to traders for settling physical and derivative shipping contracts. The exchange has regional offices in Singapore, Shanghai, and Athens.

What is the motto of the Baltic Exchange?

Each member commits to a code of business conduct – the Baltic Code – summed up by the motto “our word our bond.” A significant proportion of the world’s ship chartering and Sale & Purchase business is negotiated and handled by members of the Baltic Exchange.

How old is the Baltic Exchange?

Although the trading floor is a thing of history, the Baltic’s position as the pre-eminent provider of independent maritime data means that its role at the centre of the maritime markets is as true today as it was 200 years ago.

What does the Baltic Dry Index tell us?

The Baltic Dry Index (BDI) is an index of average prices paid for the transport of dry bulk materials across more than 20 routes. The BDI is often viewed as a leading indicator of economic activity because changes in the index reflect supply and demand for important materials used in manufacturing.

What are the four shipping markets?

The international shipping industry can be divided into four closely related shipping markets, each trading in a different commodity: the freight market, the sale and purchase market, the newbuilding market and the demolition market.

How does contract of affreightment work?

Contract of Affreightment is an agreement between a charterer and a shipowner, where the shipowner agrees to transport specific number of goods for the charterer at a specified period. Under this agreement, the charterer is obligated to pay the freight whether the goods are ready for shipment or not.