Baltic plans a charterparty tool
(Posted on 02/05/18)
The Baltic Exchange has entered into discussions with a group of Dry Panellist Brokers with the aim of jointly developing a charterparty and recap tool for the dry bulk market. The goal is for the Baltic Exchange and Panellists to work together and produce an industry standardised recap manager and charterparty editor.
The Baltic Exchange Recap Manager (BERM) concept was presented at a meeting with representatives of a group of Baltic Exchange panellists last month in London. Commenting on the discussions, Baltic Exchange Chief Executive Mark Jackson said:
"We've been looking at the post trade space for 12 months and after consultation with our members and Panellists the area of contract management was highlighted. Our joint aim is to develop a broker-centric product that will be adopted by the market. Contract management systems can maximise efficiency and accuracy in contract production and is a key service Shipbrokers provide to their customers. The Baltic is partnering with Chinsay as its technology provider – with this arrangement in place we can build on Chinsay's existing charterparty management system, which is used by many of the major principals and shipbroking companies."
ACM Braemar, E A Gibson, Howe Robinson and CSBL members; Arrow Shipbroking Group, Barry Rogliano Salles, Hartland Shipping Services, Ifchor and Thurlestone Shipping, have agreed to explore this project further with the Baltic Exchange. A working group will look at the possible structure of an agreement and scope the system's functionality.
The International Chamber of Shipping (ICS) has published the latest Flag State Performance Table (2020... Read more
RightShip and INTERCARGO have announced the launch of an important new quality standard for the dry... Read more
Chevron Marine Lubricants has helped ship owner customers identify and manage a distinctive engine condition... Read more
The board of Wallem Group have announced that Chief Executive Frank Coles has resigned and will be leaving... Read more
Seanergy Maritime Holdings Corp. has announced that it has reached final agreements with certain of... Read more
The Isle of Man Ship Registry has formally launched the first ever seafarer welfare app designed by... Read more
DNV GL, the assurance and risk management company, will change its name to DNV on 1 March 2021. The... Read more
Norwegian-based scale-up Yxney Maritime and Inmarsat, the world leader in global, mobile satellite communications... Read more
Leading Classification Society ClassNK has been analyzing the retrofitting status of ballast water management... Read more
The maritime industry will remain a target of cyber-criminals in 2021 and the world’s shipping... Read more