Corporate Governance

This 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 BEC who are vetted by the incumbent BEC and approved by Baltic (the Member Representatives).

The Chairman of the Baltic Index Council, the Chief Executive Officer of Baltic and two directors of the Baltic Board will also be members of the BEC. The BEC elects its Chairman and Vice Chairman from among its Member Representatives.

The Chairman of the BEC is invited to attend meetings of the Baltic Board where required.
 

The Baltic Membership Council (BMC) considers new membership applications, oversees the sports associations and social activities operated by the Baltic and manages the important dispute resolution activity of the Baltic Exchange. From time to time, it may co-opt Members who are not BMC participants to provide additional expertise and shipping experience in support of its work.

The BMC has disciplinary powers of censure, suspension and expulsion over Members and is responsible for maintaining proper, ethical standards in trading. Should a member dispute such a decision by the BMC, they have the right to appeal to the BEC.