The Baltic Exchange was delighted to host a cocktail reception in Singapore, on 20 July for Singapore-based members, panellists, advisory council members and members of maritime community.

The event was held at Eden Hall, official residence of the British High Commissioner to Singapore, and was the first business reception to be held at the historic venue since the onset of the global pandemic.

Lu Su Ling, Head of Baltic Exchange Asia, explained to guests that the Baltic Exchange now has 70 members in Singapore and 200 across Asia.

"Asian companies account for almost 30% of global membership, up from about 20% five years ago," she said.

"We are very mindful of the importance of Singapore and the wider Asian region to shipping, and of ensuring that Asia based companies have a voice at the Baltic Exchange.

"In keeping with the growth that we are experiencing, we have expanded our dry and wet Asia Advisory Councils in recent years.

"The Advisory Councils are made up of a cross section of members, a number of whom are here today, and provide us with useful ideas and feedback. They allow us to engage with and consult our membership on developments involving our indices and receive feedback to proposed changes and new products."

The British High Commissioner to Singapore, Kara Owen, said the Baltic Exchange was one of the best examples of collaboration between Singapore and the UK.

High Commissioner Owens also discussed the two countries working together on clean maritime solutions and initiatives such as Green Corridors.

The Xinhua-Baltic International Shipping Centre Development Index Report was released earlier this month.

Singapore secured top spot as the number one shipping centre for the ninth year running. You can read the full report here.