The Baltic Exchange has kick-started its fundraising campaign for a new RNLI lifeboat at Salcombe, Devon by putting an historical artefact up for auction. A bronze fountain, originally donated in 1907 to the Baltic Exchange by its then Chairman, Edward Power, will go under the hammer at Bonhams on 15 February and is expected to raise £30,000 - £40,000.

The Baltic Exchange has a proud history of supporting lifeboats. Our members have provided financial support to lifeboats at Salcombe for over 150 years and more recently, in 2015, an inshore lifeboat at Lymington was launched bearing the name David Bradley. Funds for this lifeboat were raised in memory of David Bradley, a popular former employee and member of the Baltic Exchange.

In Salcombe, the 25 knot Tamar Class All Weather Lifeboat The Baltic Exchange III has saved countless lives since its launch in 2008. The boat recently had an extensive refit and returned to service in March 2021. Baltic members raised over half a million pounds towards this boat. Salcombe is one of 238 lifeboat stations dotted around the UK and Ireland and depends on donations to maintain its rescue service.

Details of the new campaign to raise a significant sum towards a future Baltic Exchange IV are still being finalised, but the opportunity to start the fundraising drive early came about with the change of ownership of the Baltic Exchange building at the end of 2021.

The female figure is thought to represent a sea nymph and holds aloft a model of a galleon

The figurative female nude fountain had been located in the lobby area of the Exchange’s headquarter St Mary Axe building in London for a number of years. The female figure is thought to represent a sea nymph and holds aloft a model of a galleon. Once fed by an artesian well, it was originally housed at the old Baltic Exchange building which was damaged beyond repair by a terrorist attack in 1992.

In December 2021 the Baltic Exchange completed a leasehold sale of the St Mary Axe site and has now temporarily moved to offices on Leadenhall Street.  Extensive refurbishment and upgrades are currently underway to make the St Mary Axe building more environmentally friendly and the Baltic Exchange will move back to the second floor at St Mary Axe in 2023 as tenants. Unfortunately, the fountain could not be incorporated into the new ground floor design of the building. It weighs several tonnes and is about 2.5m tall, making it almost impossible to install on the second floor.

Details of the new RNLI fundraising campaign will be circulated later this year.