Proposed Acquisition of Baltic Exchange by SGX: update on timetable
On 22 August 2016, The Baltic Exchange Limited (“Baltic Exchange”) and Singapore Exchange Limited (“SGX”) announced that agreement had been reached on the terms of a recommended cash acquisition by which the entire issued share capital of Baltic Exchange would be acquired by SGX Baltic Investments Pte. Ltd., an indirect subsidiary of SGX.
Mark Jackson named CEO of The Baltic Exchange
The Baltic Exchange Limited (“Baltic Exchange”) today announces that Mark Jackson, currently Chief Commercial Officer of AM Nomikos Group and a former Chairman and Director of The Baltic Exchange, will become its next Chief Executive Officer.
Results of voting at Court Meeting and General Meeting
Recommended cash acquisition of The Baltic Exchange Limited (“Baltic Exchange”) by a wholly owned subsidiary Singapore Exchange Limited, by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006.
SGX and Baltic Exchange: update on Proposed Acquistion
Singapore Exchange Limited (SGX) and The Baltic Exchange Limited (Baltic Exchange) are pleased to announce that they have agreed on the terms for a recommended offer by SGX for the entire issued share capital of the Baltic Exchange (Proposed Acquisition).
Update on SGX offer to acquire The Baltic Exchange
The Baltic Exchange Limited (Baltic Exchange) announces that, following agreement with the Singapore Exchange (SGX), it will now proceed with the solicitation of support from Baltic Exchange Shareholders for SGX’s offer to acquire the issued ordinary share capital for GBP 160.41 in cash per Baltic Share. This represents a total consideration of GBP 77.6 million.
Baltic Exchange panellist agreement
In the context of the Baltic Exchange’s potential acquisition by Singapore Exchange (SGX) an agreement, which documents and reinforces existing processes established by the Baltic Exchange and its 48 shipbroking panellists, has today (25 July) been sent to each firm for signature
Baltic Exchange and SGX extend period of exclusive discussions
The Baltic Exchange and Singapore Exchange (SGX) have agreed to extend the period of exclusive discussions regarding an offer for the Baltic Exchange from 30 June 2016 to 31 August 2016. The exclusivity agreement was signed on 25 May 2016 to allow the Baltic Exchange to consult with stakeholders and undertake discussions with SGX.
Baltic to engage newly formed panellist group
The Baltic Exchange has noted the formation of Competitive Ship Brokers Limited (CSBL), the new grouping of some of its member panellists, and looks forward to a constructive engagement with it.
Baltic Exchange and Singapore Exchange enter into exclusive discussions
The Baltic Exchange Limited (“Baltic”) announces that it has entered into exclusive discussions with Singapore Exchange Limited (“SGX”) regarding an offer for the Baltic.
John Banaszkiewicz elected as FFABA Dry Chairman
John Banaszkiewicz, the managing director of Freight Investor Services (FIS), has been elected as Dry Chairman of the Forward Freight Agreement Brokers’ Association (FFABA). He replaces Tasos Spiliopoulos of Simpson Spence Young who served a one year term.
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.
Shipbroking Lord Mayor commends fairness and transparency
The newly elected Lord Mayor of the City of London, Alderman the Lord Mountevans commended the City’s reputation for fairness, transparency and predictability in an address delivered at the Baltic Exchange today (18 November).
Baltic Exchange collaborates with Ningbo Shipping Exchange
The London headquartered Baltic Exchange will be contributing to China’s Maritime Silk Road project through close collaboration with the Ningbo Shipping Exchange.
Baltic Exchange delivers large interim dividend to shareholders
The Baltic Exchange has today announced in a letter to shareholders that it will be paying an interim dividend of £20 per share.
Baltic Exchange announces planned departure of Chief Executive
The Baltic Exchange has announced that its Chief Executive, Jeremy Penn will step down from the position next summer after over 12.5 years in the role.
London tops Baltic/Xinhua index for maritime services
London has come top of a listing of maritime service centres published in English today (10 September 2015) by the Baltic Exchange and Xinhua, China’s news agency, whilst Singapore heads the overall list for its combined port and maritime services offering.
Baltic Exchange welcomes UK’s Maritime Growth Study findings
The Baltic Exchange has warmly welcomed the findings of the UK Maritime Growth Study, published today (7 September 2015). The study, based on lengthy and in-depth consultation with industry and government, was led by Lord Mountevans.
Downing Street welcomes shipping leaders
Baltic Exchange Chief Executive Jeremy Penn was part of a delegation of
Baltic Exchange members and other senior players in the maritime industry
attending a meeting with Secretary of State for Transport, Patrick
McLoughlin at No 10 Downing Street today (7 September 2015).
Baltic resolves issues posed by capesize vessel change
Changes in the capesize fleet profile have led the Baltic Exchange to announce that it will cease panel based reporting of its 172,000 dwt 4 Timecharter Average (172 4TC) data from 31 July 2015 and instead provide data derived from its assessments of the more commonly traded 180,000 dwt type capesize vessel.
Dry FFA market volume surges in April
Figures compiled by the Baltic Exchange show that April 2015 was the busiest month of the year for the dry bulk freight derivatives market.
Baltic Exchange highlights importance of non-domiciled shipowners
The Baltic Exchange has today highlighted the importance and value to the UK economy of the many foreign ship-owners who reside in the UK and pay tax in the UK but also enjoy the benefits of non-domiciled status to ensure their global businesses are not brought into the UK tax net.
100,000th block future reported to Baltex
The Baltic Exchange’s electronic trading platform, Baltex, has now handled more than 100,000 block futures since launching its new block futures facility on 1 December 2014.
Leading FFA brokers use Baltex to report block trades
The Baltic Exchange’s electronic trading platform, Baltex, has today (Monday 1 Dec) launched a Block Trade Facility which allows brokers to continue using LCH.Clearnet’s clearing services now that the London based clearing house has re-classified its dry bulk freight derivatives as futures contracts.
Baltic Exchange lifts interim dividend
The Baltic Exchange Board of Directors has declared an interim dividend of 45p a share.
Baltic & Xinhua launch shipping centre index
Singapore has come top of the ISCD Index, a benchmark report by The Baltic Exchange and China’s Xinhua news agency.