Baltic Exchange establishes Asia-Pacific office
The Baltic Exchange today (Tuesday 12 December) announced the establishment of an Asia-Pacific Representative Office in Singapore. The office will provide close contact with the growing number of Baltic Exchange members in the region and will focus on the development of Baltic freight market information to meet their needs.
Announcing the opening of the new office at the inaugural meeting of the Baltics Asian Dry Freight Market Information Users Group, Baltic Exchange chief executive Jeremy Penn said:
Having lived and worked in this area for more than 10 years, including three based in Singapore, I know how hard it is for any organisation with its centre of gravity in another time-zone to really respond to the needs here. Opening our office in Singapore is an important step in redressing the balance and ensuring the Baltic is fully attuned to the needs of the shipping market in the Asia-Pacific region.
He added:
We plan to grow this office and look forward to welcoming new members to the Baltic.
Welcoming the Baltics announcement, Peter Ong, chairman of the Maritime and Port Authority of Singapore (MPA) said:
We are honoured that the Baltic Exchange has chosen Singapore as the location for its first office outside of London. We are confident that the Baltic Exchanges presence in Asia will be well received by the maritime community in Singapore and in Asia. We look forward to working with the Baltic Exchange to develop the freight derivatives market in Asia and beyond.
The office will be run by Philip Williams, an experienced shipbroker who has previously worked for Braemar Seascope (Perth), Navios and Fiona Maritime Agencies.
Commenting on his appointment Philip Williams said:
Im very excited at the prospect of helping the Baltic grow in this region and look forward to meeting our many existing members, making new contacts and developing our freight market services.
The Baltic Exchange currently has 60 member companies based in the Asia Pacific region.
New office contact details:
The Baltic Exchange
35th Floor
UOB Plaza 1
80 Raffles Place
Singapore 048624
Tel: +65 6248 4550
Fax: +65 6248 4501
Email: pwilliams@balticexchange.com
ENDS
A photo of Phillip Williams is available on request.
Notes to editors
The Baltic Exchange
The Baltic Exchange is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 550 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
A collective voice for members worldwide
Philip Williams
Philip Williams (55) has 35 years experience in the international bulk shipping markets.
Career history:
1999 2006: Manager, Braemar Seascope Pty Ltd, Perth WA
1996 - 1999: Shipbroker, Bulk Ocean Charters Ltd
1995 1996: Chartering manager, Fiona Maritime Agencies Ltd
1992 1995: Representative, Pelican Shipping
1991 1992: Partner, Seawave Chartering
1985 1991: Proprietor, Guildhall Shipping Consultants
1982 1985: Director, Navios Corporation
1979 1982: Chartering manager, Norman Bulk Shipping
1978 1979: Assistant chartering manager, Navios Corporation
1970 1978: Chartering manager, Seabridge Shipping/Silver Line
1967 1970: Assistant freight manager, Prince Line
He was a member of the Baltic Exchange 1973 1982, 1991 1996 and 2005-2006.
Shipping market information
The Baltic Exchange provides the shipping market with the following information:
Six daily indices covering capesize, panamax, supramax dry bulk carriers and tankers carrying clean and dirty products
Over 50 separate route assessments
Mark-to-market information
Four dry cargo reports
Second-hand ship values
Ship demolition values
Daily dry cargo fixture list
Self-regulated market
The Baltic exercises a light-handed supervision of the shipping market through a self-regulatory process and expects its members to conduct their business within a set of defined guidelines and work practices encapsulated in its 260 year old motto "Our Word Our Bond."
