Definition of Baltic Exchange:
Worlds premier ocean freight market for mostly dry bulk cargo (such as coal, grains, and iron ore) where ship owners and cargo owners are matched by the exchanges members called ship brokers. Situated in London, it is also the market for buying and selling ships (accounting for about half the worlds new and second-hand tonnage), and where forward freight agreements are traded. The exchange started informally in 1744 in the Virginia & Maryland Coffee House at Threadneedle Street frequented by merchants and ships captains, and its full name is Baltic International Freight Futures Exchange. See also Baltic indices.
An association of companies, based in London, whose members are engaged in numerous international trading activities, especially the chartering of vessels to carry cargo.
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.
The Baltic Exchange was started in 1744 at a coffee house, where shipowners and merchants gathered to transact business, in Threadneedle Street in London. To bring order to informal trades, membership and rules of trades were devised in 1823. As England's trading connections and prowess grew, the exchange also gained in the number of its members and transactions. It was acquired by the Singapore Exchange SGX in November 2016.
How to use Baltic Exchange in a sentence?
- The Baltic Exchange provides real-time maritime shipping information to settle physical and derivative shipping contracts.
- It provides a varied set of services, from information about freight markets to frameworks for business cooperation between various parties.
Meaning of Baltic Exchange & Baltic Exchange Definition