Over 600 Baltic members and guests gathered at London’s Christchurch, Spitalfields for the annual Chairman’s Cocktail Party. Addressing the gathering, Baltic Chairman Guy Campbell gave an update on negotiations over a potential acquistion of the Exchange. Explaining that negotiations are ongoing with a number of third parties, he assured members that:
“We will not proceed beyond the negotiation stage and make recommendations without first consulting with all of you – members, shareholders, panel members, end-users.”
He noted that the Baltic represents a very wide constituency and that it is both a thriving freight market index business and a thriving community.
He said: “Any potential acquirer will need to provide assurances that our 270 year legacy, our leadership position – both in London and around the world – will not be undermined. They will need to deliver an offer that does not disrupt the successful FFA market which relies on our independent, rigorously compiled indices. They will need to ensure that YOU, members, are provided with a service that YOU value. They will need to ensure that the ethos behind “our word our bond” remains at the heart of our Exchange.”
Click here to view a full version of the speech.
Click here to view all photos from the evening.