Baltic Exchange launching container freight index

Singapore

THE Baltic Exchange, a London-based subsidiary of the Singapore Exchange (SGX), is launching an escrow service for vessel sales and a global container freight index.

In a separate announcement, it also said it will be introducing a new Baltic Code, a modernised code of conduct for shipowners, charterers and shipbrokers.

These come about a year after its chief executive Mark Jackson rejoined the 274-year-old institution, drawn by the prospect of being able to move the organisation into the future thanks to a now-unified shareholding.

The escrow service will allow its members to hold deposits for ship sale tra…