You may have seen a recent advertisement placed by the Baltic Exchange across the shipping industry press, highlighting its data licence policy.
When Baltic Data is referenced for the settlement of contracts, every party to the contract is required to have a valid Baltic Data licence for the entire duration of the contract. This includes – but is not limited to – Time and Voyage Charterparties, Contracts of Affreightment (COAs), Commodity Contracts and Freight Derivative agreements (FFAs) that are not given up for clearing. Specifically, parties are required to have a Baltic Data licence that permits use of Baltic Data for settlement of contracts (“Settlement Licence”), rather than holding only a Level 1 or Level 2 licence, which does not permit such use.
A Baltic Data Settlement Licence can be obtained through:
- A Baltic Panellist- Baltic data is based on assessments made by Panellist Brokers and the easiest way to obtain a licence is to nominate a Baltic Panellist Broker in the contract. Every Baltic Panellist Broker is permitted by the Baltic Exchange to provide Baltic Data (including a Settlement Licence) to its clients in the segment/s for which the Panellist Broker supplies assessments to the Baltic. A copy of the recent advert including a full list of Baltic Panellists can be found here
- Alternatively, a licence can be obtained directly from the Baltic Exchange
To ensure that your company has the correct licence or to learn more about Baltic Exchange market information, please contact email@example.com.