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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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Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...


Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.  ...


Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...


Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...


Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...


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