On 15 May, the Baltic Exchange hosted its stand-out social event of the year, the Chairman’s Cocktail Party.

Attended by 500 guests, this historic event originally celebrated the end of a Baltic chairman’s two-year tenure, held on the floor of the old Baltic Exchange. Now held at Christ Church Spitalfields in London, it brings Baltic members from across the globe together for a unique annual networking and social event, which is also attended by politicians, industry leaders and journalists amongst others.

Baltic Exchange Chairman, Duncan Dunn, gave the customary Chairman’s speech, highlighting the growing need to demonstrate the importance now, more than ever, of the broker providing added value to their principal. Duncan added that:

“The Baltic management has performed a first-class job in ensuring that Baltic Members were heard in the debate surrounding the IMO Sulphur Cap and our benchmark assessments. And crucially, the Baltic has ensured that the index production processes are regulation ready ahead of a Europe-led requirement that all Benchmark Administrators be policed by national financial authorities.”

Duncan then introduced guest of honour Secretary of State for Transport, Chris Grayling MP. Mr Grayling discussed the UK government’s Maritime 2050 strategy, highlighting the ongoing importance of the shipping industry to the British economy.  

The Chairman finished by addressing the Baltic’s continual commitment to its Members, stating:

“It has been 275 years since a small coffee house opened for business in Threadneedle Street. Shipbroking may have changed radically over these years, but our commitment to standards and integrity has never dimmed. Our Word Our Bond is as important a creed today as ever.”

This was Duncan’s final appearance as our Chairman and the Baltic Exchange would like to take this opportunity to thank him for the great job he has done over the past two years.