The newly elected Lord Mayor of the City of London, Peter Estlin, visited the Baltic Exchange today (14 November), meeting with a range of senior maritime industry figures over lunch.

Welcoming the 691st Lord Mayor to the Baltic, the Exchange’s Chairman Duncan Dunn underlined the Baltic’s support for the Lord Mayor’s global agenda. The lunch was a useful opportunity to showcase the importance of the UK’s maritime services sector to the Lord Mayor who serves as a global ambassador for Britain’s financial and professional services industry.

Duncan Dunn briefed the Lord Mayor on the global sulphur cap for shipping and its impact on the commercial shipping markets. He also explained how the Baltic is updating its Code, noting that:

“There is a greater focus on fairness and competition, anti-bribery and corruption and benchmarking related issues than before. By introducing this new code of conduct, we want to preserve confidence in and the integrity of the physical freight and freight derivatives markets, eliminate poor practices and raise standards across the entire market as well as increasing the attractiveness of doing business with Baltic Exchange members.”

He added:

“London and the Baltic Exchange aren’t just exporters of goods and services. We are also exporters of “good governance.”

The meeting was also an opportunity to brief the Lord Mayor on the plans for London International Shipping Week which takes place in September 2019.

Click here to download a copy of the Baltic Chairman’s speech.