Baltic Exchange looks to expand following acquisition by SGX

The maritime information provider and creator of the famed Baltic Dry Index will work closely with shipbrokers and end-users to create new freight rate benchmarks and indices to be launched later this year, according to Baltic Exchange CEO Mark Jackson.    The London-based Baltic Exchange plans to introduce more freight rate benchmarks, along with new liquefied natural gas (LNG) and container indices by this year, The Straits Times reported.
   The Baltic Exchange, which was acquired by the Singapore Exchange in November 2016, develops and publishes information about freight rates in the dry bulk and tanker shipping markets, and is best known for its Baltic Dry Index.
   Expanding its offerings will allow the Baltic Exchange’s to “remain at the heart of the bulk shipping industry for the long term,” Baltic Exchange CEO Mark Jackson told The Straits Times.
   “The next steps will be taken in close collaboration with our shipbroking panelists and end-users to identify the best reporting model, routes and vessel descriptions,” he said.
   In addition to rolling out more container routes, there is potential to create derivative-based risk-management tools for the container sector, Jackson said, adding that both the LNG and container indices are ideally suited to being published from Singapore.
   “Singapore is at the heart of the rapidly developing LNG infrastructure in Asia, and we hope to add value to SGX’s current offerings and play our role in developing Singapore as Asia’s leading LNG trading hub,” he said.
   The Baltic Exchange has also established a Baltic Asia Advisory Committee, which will meet on a regular basis and advise the exchange on global maritime matters, particularly in the Asia region.