What are Baltic Postings?

As part of our membership, Baltic Exchange provides free dispute resolution and debt recovery, helping our members and their customers recover undisputed monies. With many of these payments being smaller amounts of up to $10,000, with no payment or short payment, a legal recovery route is often too expensive. Baltic Exchange's dispute resolution service has been hugely successful in recovering unpaid commissions, freight, demurrage and arbitration awards.
 
Disputes are handled in close cooperation with the reporting company and are often resolved amicably. However, if a satisfactory resolution cannot be achieved, the offending company will be posted. Posting informs Baltic members that they should check with Baltic Exchange if they are considering doing business with a posted company. The term 'Posting' dates back to when companies that failed to honour their obligations were named and physically posted on a notice board on the trading floor. 
 
Should a Baltic Exchange member be posted, then their membership will be revoked. Information as to why a company was posted is only available to a Baltic member.  A check of postings is recommended as part of any Baltic member’s due diligence process.


Now available on our KYC platform

Users of Baltic Exchange's Know-Your-Customer (KYC) platform now also have access to our Postings. By making our Postings available to our KYC users, Baltic Exchange is doing our part to help the industry stay informed of potential risks, make more informed decision making and meet increased regulatory obligations.   

 

Coming soon:

A Sanctioned Vessel List feature will be added to the KYC Platform. Vessels appearing on the OFAC, OFSI, EU, UN, and Canadian sanctions lists will be available for users to easily cross-check to further support their due diligence processes.
 
If you would like further information, have any questions or would like to arrange a demonstration of the KYC Platform, please click here.

If you are also interested to learn more about dispute resolution and other benefits of becoming a Baltic Exchange Member, please click here.