Baltic Exchange
The Baltic Exchange is a British company and a global marketplace for shipbrokers, ship owners and charterers.
History
The company was founded in 1744 in Threadneedle Street in London under the name of Virginia and Baltick Coffee House. 1810 moved his seat in the Antwerp Tavern. 1857 saw the establishment of the Baltic Company Limited. After the merger with the London Shipping Exchange Baltic Exchange in 1900 was registered as a private limited company. Three years later the company moved into the building at St Mary Axe in central London. On January 4, 1985, the internationally acclaimed Baltic Freight Index was published (since November 1, 1999 Baltic Dry Index ) for the first time.
On Friday, April 10, 1992, terrorists destroyed the Provisional Irish Republican Army (IRA ), the Baltic Exchange. They used a van to explode a bomb in front of the listed building. Parts of the facade of the listed building were sold to Tallinn.
On Monday, 13 April 1992, which transferred the Baltic Exchange trading in the spaces of Lloyd 's of London. In 1995 she moved to its present headquarters at 38 St Mary Axe. On the site of the destroyed building in 1992 the skyscraper was built between 2001 and 2004 30 St Mary Axe of the reinsurer Swiss Re.
Global Marketplace
The Baltic Exchange is in possession of more than 550 member companies and a further 2000 people (as of 2006). 400 member companies have their headquarters in the UK, the rest in the U.S., Europe and East Asia. The Baltic Exchange can not be traded on the exchange. It is managed by a Board 12-15 directors, which is elected by its members. The company has 20 employees. Chairman ( Chairman ), Michael Drayton and Managing Director ( CEO) Jeremy Penn.
The Baltic Exchange publishes daily indices and prices for the worldwide shipping of main cargo on standard routes and is a market of Forward Freight Agreements ( FFAs ). The indices are not traded. Freight rates are determined from the data of brokers, ship owners and charterers. The prices are not subject to revisions. Daily updates occur in real time. Originally started as a floor trading, transactions are now carried out exclusively over the phone.
The indices are not published for most UK public holidays. No trading on the Baltic Exchange is held every year on Good Friday, Easter Monday, May Day (first Monday in May), Spring Bank Holiday (last Monday in May) and summer holiday ( last Monday in August). In addition, the Baltic Exchange between Christmas (December 25 ) and New Year's is closed. If New Year's Day falls on a weekend the holiday will be made up on Monday.
Indices
The Baltic Exchange publishes daily seven different indices, including, since January 4, 1985 also the Baltic Dry Index ( BDI). It is divided into the Baltic Capesize Index ( BCI), Baltic Panamax Index the (BPI ), the Baltic Supramax Index ( BSI) and the Baltic Handysize Index ( BHSI ). Subgroups of index take into account 26 major shipping routes and capture the cost of time charter and voyage charter for four classes of ships ( Capesize, Panamax, Supramax and Handysize ) in the bulk material transport.
On 20 April 1998, the Baltic Exchange calculated for the first time the Baltic International Tanker Routes Index ( BITR ) and shared this three years later, on 1 October 2001, in which two existing indexes on tankers. The Baltic Dirty Tanker ( BDTI ) index captures only tankers carrying uncleaned cargo such as crude oil, the Baltic Clean Tanker Index ( BCTI ), however, tankers carrying cleaned load as oil products (gasoline, diesel, fuel oil or kerosene).
The freight rates for bulk carriers were compared with the freight rates of the two tanker indices of the credit crunch (English: " Credit Crunch " ) most affected during the international financial crisis. The decline in the Baltic Dry Index was from May 2008 (11.793 points) and December 2008 (663 points) 94.4 percent. The BDI was thus only slightly above its all-time low from July 1986 (554 points). The Baltic Dirty Tanker Index ( freight for crude oil ) and the Baltic Clean Tanker Index ( freight rates for oil products ) lost slightly less in value. The BDTI fell from July 2008 (2.347 points) and April 2009 (453 points) to 80.7 percent and the BCTI between June 2008 ( 1,509 points) and April 2009 ( 345 points) to 77.1 percent.
The following indices are published daily by the Baltic Exchange.