The Singapore-headquartered Tsao-family owned shipping company joins over 650 existing members of the Baltic Exchange. It is the first new member to join the Baltic since SGX took it over on 8 November.
“We are delighted to welcome another new Baltic member from Asia as we look to enhance growth opportunities amid the shift in seaborne trade to this part of the world,” commented Michael Syn head of derivatives at SGX. One of SGX’s objectives when taking over the Baltic was to grow its Asian business.
“As participation in the Baltic increases, the maritime community as a whole will benefit from a more reliable and independent view of the markets,” he added.
Lim Sim Keat, managing director for Transport Logistics, IMC Industrial Group, said, “We are proud to become a Baltic member and help promote Singapore in global shipping.”
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