LONDON, July 31 (Reuters) - The Baltic Exchange will close its freight derivatives platform Baltex at the end of the year after a review, the London-run business said on Monday. Baltex was launched by the centuries-old Baltic Exchange in June 2011 as the first central electronic marketplace for freight forward agreements (FFA), which allow investors to take positions on … [Read more...]
Baltic Exchange Exploring New Freight Indexes for Grain, LNG Shipping
By Jonathan Saul LONDON, June 14 (Reuters) - 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 … [Read more...]
Baltic Exchange Unveils Plan for Bigger Role in Maritime Industry
By Roslan Khasawneh SINGAPORE, April 26 (Reuters) - The Baltic Exchange said on Wednesday it will offer new products and services to enhance its role in the maritime industry. In 2017, the Exchange aims to provide more freight market benchmarks and move into the liquefied natural gas (LNG) and container spaces, as well as becoming more involved supporting its members in … [Read more...]
Baltic Exchange Takeover Approved by UK Regulator
By Jonathan Saul LONDON, Oct 19 (Reuters) - Britain's Financial Conduct Authority (FCA) has approved Singapore Exchange's 87 million pound ($107 million) takeover of London's Baltic Exchange after shareholders gave the green light for the deal last month, the Baltic said on Wednesday. The acquisition is one of the latest developments in a string of mergers, bidding wars … [Read more...]
Freight Futures Market Avoids Tougher EU Information Disclosures
By Jonathan Saul LONDON, Oct 14 (Reuters) - The European Union's securities markets regulator has dropped proposals to make participants in the multi-billion dollar commodity derivatives market for freight rates disclose knowledge of loading conditions, the Baltic Exchange said. The European Securities and Markets Authority (ESMA) published its report on Sept. 30 on its … [Read more...]
Baltic Exchange Succumbs to Succumbs to Singapore as Shipping Turmoil Deepens
By Jonathan Saul LONDON, Sept 27 (Reuters) - The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history. Some 95 percent of shareholders voted on Monday in favour of a takeover deal from … [Read more...]
Baltic Exchange Shareholders Approve Takeover
By Jonathan Saul LONDON, Sept 26 (Reuters) - Baltic Exchange shareholders approved on Monday an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal giving SGX access to the multi-billion-dollar freight derivatives market. As the global shipping industry struggles with poor market conditions, SGX offered - after … [Read more...]