Asia/Pacific News
Baltic Exchange Holds First Singapore Board Meeting
The Baltic Exchange held its first-ever board meeting in Singapore Tuesday, demonstrating Asia's increased importance to the organisation, it said in an emailed statement.
The Baltic Exchange is based in London, and this was its first board meeting outside the UK, although about 200 of its 610 member firms have offices based in Asia.
"We would like to increase Asian representation on our board and holding our meetings outside of the UK will help to encourage this," said Chairman Quentin Soanes.
"We hope to hold regular board meetings in the region in the future."
The group already upgraded its Singapore representative office to a registered entity, Baltic Exchange (Asia) Pte Ltd., earlier this year and opened a new office in Shanghai in September.
In addition, it moved the time it releases its nine capesize routes and index forward by two hours to accommodate Asian firms.
Other Baltic Exchange events this week in Singapore include the Asia Derivatives Forum, jointly hosted with the Forward Freight Agreement Brokers' Association (FFABA), and a reception with Singapore Minister of Transport Lui Tuck Yew and British High Commissioner Antony Phillipson.
