Baltic Exchange statement

News — By on February 26, 2016 at 10:29 AM
Guy Campbell

Guy Campbell

Statement

The Baltic Exchange confirms that it has received a number of exploratory approaches and that it is now in confidential discussions with selected third parties regarding its future strategy and ownership.

There can be no certainty that an offer will be made or the terms on which any offer might be made. Further announcements will be made as appropriate.

Baltic Exchange Chairman Guy Campbell said:

“At this stage, no formal offer has been received, but when considering any approach the Board will first carefully consider the views and interests of all its stakeholders.  Should we receive an offer, we will only recommend an offer that meets not only the interests of shareholders, but also the interests of ordinary Baltic members, index panel members, the users of Baltic Exchange freight market information and the principals and brokers who trade in the FFA market.”

The Baltic Exchange has appointed Nomura International PLC and Norton Rose Fulbright LLP as advisors.

The Baltic Exchange, founded in 1744, is an iconic name in global shipping and a successful, profitable business. Its diverse and international membership has grown to 650 companies; its information underpins the growing FFA market. The organisation has a strong balance sheet which includes a valuable property asset and an investment portfolio.

We will make no further comment at this time.

About the Baltic Exchange

The Baltic Exchange is the world’s major independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 650 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic.
Baltic Exchange members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels.

Baltic Exchange services

•         Independent, high quality dry, wet and gas freight market information
•         Self-regulated chartering, sale and purchase and freight derivatives markets
•         Central forum for competing freight market interests
•         Framework ensuring high standards of business practice and co-operation
•         London-based business facilities for members

www.balticexchange.com

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