The Baltic Exchange is researching the possibility of freight indexes for grains and liquefied natural gas. The London-run business is targeting 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 benchmark indexes for global shipping rates and also owns a trading platform for the multi-billion dollar freight derivatives market.
SGX’s ownership of the Baltic has enabled the exchange to consider developing new areas, especially in Asia – a region which is set to drive shipping trade going forward, the Baltic’s CEO Mark Jackson said.