The Baltic Exchange Council is the governing body which oversees the Baltic, including the Membership Committee and the Charities Committee, in relation to its strategy for membership services, social responsibility, charities and its relationship with its members, governments, regulatory bodies and the global shipping community.  Members of Baltic nominate from among themselves eight representatives on the Baltic Exchange Council who are vetted by the incumbent Baltic Exchange Council and approved by Baltic (the Member Representatives).  The Chairman of the BEISL Governance Council, the Chief Executive Officer of Baltic and two directors of the Baltic Board will also be members of the Baltic Exchange Council.  The Baltic Exchange Council elects its Chairman and Vice Chairman from among its Member Representatives.  The Chairman of the Baltic Exchange Council is invited to attend meetings of the Baltic Board where required.
The BEISL Governance Council provides effective scrutiny of BEISL on all aspects of its benchmark determination process in accordance with the IOSCO Principles of Financial Benchmarks and the Guide to Market Benchmarks.  This council comprises five representatives of the appropriate segments of the market (including at least a dry bulk, a wet bulk and a shipping derivatives broker panellist) (Market Representatives) and one director of the Board of Baltic or of one of the Baltic’s subsidiaries.  The Chairman of the BEISL Governance Council is one of the Market Representatives, nominated by the incumbent BEISL Governance Council and approved by BEISL.  The Chairman is expected to have an intimate understanding of the physical and financial shipping markets as well as a deep understanding of Baltic.  The Chief Executive Officer of the Baltic is invited to attend all meetings of the BEISL Governance Council but does not have a vote on any decisions taken by the BEISL Governance Council.  The BEISL Governance Council Chairman will be invited to attend meetings of the board of directors of BEISL where required.
Baltic Council & Committee Structure
The Baltic Exchange Council
The BEISL Governance Council
Lambros Varnavides (Chairman)
S Albertijn (Chairman)
S Albertijn (ex Officio)
B F Goodall
Chief Executive (ex Officio)
N Borkmann
D Dunn
J Banaszkiewicz
C Nolan
C Reilly
J M Hadjipateras

H J Fafalios
Ex-officio and by invitation:
C Bacon
Chairman – FMIUG-Dry
M Syn
Chairman – FMIUG-Tankers
F Jacobs
Chairman – FFABA-Dry
E Poulsen
Chairman FFABA-Tankers

Charities Committee
Membership Committee
Lambros Varnavides (Chairman)
C J Nolan (Chairman)
D L Dunn
C Bacon
C J Nolan
A C Carroll
H J Fafalios
J M Hadjipateras
J Tsatsas
J Lollesgaard
A R Wooldridge FICS

Baltic Exchange Ltd., St Mary Axe, London, EC3A 8BH
Registered in England Number 64795
Tel + 44 (0) 20 7283 9300, Fax + 44 (0) 20 7369 1622.
Calls to Baltic Exchange staff are recorded
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