May 18, 2023
Ventriks, a cloud data technology company, is delighted to announce a new partnership with the Baltic Exchange, the world’s only independent source of maritime market information for the trading and settlement of physical and derivative contracts, with the addition of its independent maritime market data to the Ventriks Marketplace and Data Platform.
The Baltic Exchange indices and assessments are used as a settlement tool for freight derivative trades, for benchmarking physical contracts and as a general indicator of the freight markets’ performance. The comprehensive information services cover voyage and timecharter rates for capesize, panamax, supramax and handysize bulk carriers; Worldscale and timecharter equivalent rates for VLCC, suezmax, aframax and MR tankers; timecharter rates for LPG and LNG vessels; as well as forward assessments, sale and purchase values, OPEX assessments and ship recycling prices; market reports and fixtures.
Under this new partnership, Baltic Exchange assessments for the dry bulk, tanker and gas markets will be available through the Ventriks Data Platform (VDP).The Baltic Exchange benchmarks adhere to internationally recognised standards of regulations including the IOSCO Principles for Financial Benchmarks (IOSCO PFBs) and the EU Benchmark Regulation (EU BMR).
VDP is a cloud-native and cloud-agnostic solution, built for data teams by data teams. It enables users to work and collaborate with any data, unbounded by scale, performance, and flexibility. VDP offers a faster and more efficient platform to ingest, transform, and orchestrate data workloads with no-code data connectivity and engineering, automated inter-application workflow and powerful data targeted components.
Ventriks Data Marketplace (VDM) provides data partners the opportunity to attract and engage with a wider audience and our clients to have a better experience in sourcing, monetising, procuring, and sharing data content.
“We are thrilled to be supplying Baltic Exchange data to our users,” said Richard Quigley, CEO Ventriks. “Our customers can consume this valuable and trusted data through the Ventriks Data Platform into their CTRM, ERP, risk models, back testing algorithms.” Quigley continued: “Combined with the other trusted and leading authoritative market data available from the Ventriks Data Marketplace, customers now can make data-driven decisions based on the most current information available providing valuable insights, improved decision making and competitive advantage.”
“We’re excited to establish this new partnership. Ventriks’ cloud delivery capabilities allow us to reach a wider audience than ever before,” said Baltic Exchange Chief Executive Mark Jackson.
Headquartered in London, UK, Ventriks delivers innovative technology, data and services that accelerate and enable actionable information, within a collaborative environment. Unbounded by scale, flexibility and data type, organisations can quickly access and add data, ensure robust business processes automation, share & collaborate with clients and internal users, and quickly access the value in the data for better decision making.
About The Baltic Exchange
The Baltic Exchange represents a global community of shipping interests. These include shipowners, charterers and shipbrokers who are collectively responsible for handling a large proportion of the world’s dry cargo and tanker fixtures, freight derivative trades as well as the sale and purchase of merchant vessels.
The Baltic Exchange is regulated by the UK’s Financial Conduct Authority (FCA) pursuant to the EU Benchmark Regulation. It is the trusted provider of data for the settlement of physical and derivative freight contracts, underpinning risk management tools for the shipping and transportation markets.
Founded in 1744, the Baltic Exchange is headquartered in London with regional offices in Singapore, Shanghai, Athens, Stamford and Houston.
Baltic Exchange services:
- Daily benchmarks for dry, wet and gas freight markets
- OPEX, S&P, ship recycling & forward assessments
- Escrow and dispute resolution support
- Executive training via the Baltic Academy
- Networking for shipping professionals