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  • AUGUST 2019 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS EXCEPT POWER PRODUCERS FIXED AT US$ 72.67 A TON
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Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
Baltic ExchangeThe Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is run out of Singapore and led by Chris Jones, the Baltic Exchange’s Head of Asia who is a former Sale & Purchase shipbroker with over 40 years of experience.  
 
Based on a new Baltic Escrow Form developed by the Baltic Exchange, the service will be subject to the Singapore Exchange’s (SGX) detailed compliance and money laundering procedures. OCBC Bank will be providing the joint deposit account.
 
To use the service the buyer needs to be a Baltic Exchange member, although there are plans to expand this in the future to support transactions where the seller or broker is a Baltic Exchange member.
 
Commenting on the new service Chris Jones said:
 
“There’s been a good deal of interest in this service since we initially announced it in April. We hope to expand this service to dispute-related issues such as bunkers in the near future.”
 
The service costs US$5,000 per side.
 
To register an interest in the service, Baltic members should email escrow@balticexchange.com when initial “Know Your Customer” checks will be undertaken.


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Recent News

Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.   ...


Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...


Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...


Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...


Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah.  The tankers hit were waiving international flags such as that of No ...


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