However, with the rapid growth of European population, accompanied by British colonial expansion overseas. London gradually became the commercial center of the British Empire. The shipping industry around Virginia-Baltic Coffee House is also developing rapidly. 18 10 cafes in Virginia and Maryland moved to Antwerp and changed their names to Antwerp tavern.
However, this informal coffee house meeting can no longer meet the needs of the rapid development of the shipping industry. 1823 in order to crack down on "barbaric gambling" in the market, some businessmen with older qualifications and higher status who often gather in coffee houses set up formal committees. Initially, there were 23 members, including wholesalers, animal fat retailers, soap manufacturers and some brokers. The Committee has formulated corresponding rules and regulations and membership procedures. The Committee also decided to open a subscription room, but only for paying users, with a maximum of 300 people. This is the embryonic form of the Baltic Exchange, the most important trading market in the world shipping industry today. In May of the same year, the trading room started 1 operation. In the first few weeks, it attracted many businessmen from Paris, Stockholm, St. Petersburg, Marseille, Amsterdam, Sydney, Antwerp, Gibraltar, Madrid, Hamburg and Jamaica, which was a good start. 1846 The repeal of Corn Act made wholesalers pay attention to imported wheat, and more ships and brokers appeared, which made the Baltic Sea Commission unable to meet the requirements. 1855, Baltic company limited was established and new rules and regulations were formulated. On the other hand, in order to expand the space, the company acquired Nanhai House at 1857, which is also located in Threadneedle Street. At the same time, William Oxley was appointed as full-time Secretary-General. By the end of 1859, the Baltic Aviation Exchange had 737 members. 1859, Baltic Shipping Exchange set up a telegraph office in Nanhaifu to communicate with shipping members all over the world more quickly. Ten years later, the opening of the Suez Canal heralded a new era of commerce and shipping.
/kloc-In the late 20th century, the British economy was unprecedentedly prosperous, controlling nearly one third of the world's industrial output value. At that time, the total trade volume of Britain was twice that of France, so the trade volume controlled by members of the Baltic Exchange also accounted for a large proportion of the world trade volume. At this time, Edison invented the telephone, and the first telephone was installed in Baltic Limited Company. By 188 1 year, the daily telephone traffic in Nanhai is about 200.
With the expansion of business volume, the debate between the internal members and shareholders of Baltic Limited Company on the quality and total amount of services has also expanded. At the same time, the London Shipping Exchange established by 1892 on Bilit Avenue has also brought great competitive pressure to Baltic Limited. However, Baltics Limited has always maintained a prominent position ahead of the London Shipping Exchange. However, the coexistence of two competitive exchanges in the Baltic Sea is obviously not in line with market interests. The two institutions gradually merged on 1898. 1902, London Shipping Exchange, Baltic Company Limited and City of London Foreign Exchange Group Limited merged and moved to a new address-St. Maria's Axe Street. The first world war brought great difficulties to international institutions such as Baltic Airlines Exchange. Sixty-two members of the Baltic Exchange were killed in the war. After the war, Britain's international status plummeted, and the Baltic Air Exchange also faced a credibility crisis. The members began to think about whether it is necessary for the broker to convene a series of meetings between the grain merchant and the miller at the same time.
65438-0929 The development of aviation industry promotes the development of aviation leasing contract. 1929 February, the first British aircraft leasing contract company was established. 1929, the futures market of London Corn Trade Association appeared in Axe Street in Santa Maria at the same time.
With the global economic recession caused by the 1929 Wall Street financial crisis, the trade of Baltic Air Exchange has fallen sharply. In order to cope with the economic recession, various industrial countries have generally implemented protection policies. This change in trade pattern has led to a sharp decline in shipping revenue, and the number of members of the Baltic Air Exchange has also decreased a lot.
By 1935, the function of Baltic Sea Co., Ltd. as a commodity market ended. It has developed into a shipping market. Brokers no longer rely solely on the British merchant fleet, but expand their trade to all parts of the world.
1939 When World War II broke out, the government set up the Ministry of Shipping to organize ship leasing business, thus reducing the number of brokers in the Baltic region. After several weeks of war, Britain's wheat imports fell, and the government gave up the leasing system. The government directly controls the types and routes of ships' freight. Baltic Airlines Exchange was forced to stop trading. By 1945, the shipping department still completely controls the shipping industry. However, shipowners and their brokers can arrange charter flights and decide their own time.
1949, the Baltic Air Exchange established the world's first toll exchange by weight and the Federation of air freight brokers. It was not until 1952 that the government relaxed the control of the shipping market. The members of the Baltic Air Exchange are reunited, and the size of the Air Exchange is also expanding. 197 1 year, HKEx redrafted the rules and regulations on membership. According to the system, if a company wants to become a member, it must have sufficient funds, and most members trade as representatives of limited companies on the Baltic Exchange.
The communication revolution in 1970s and 1980s greatly promoted the development of Baltic Aviation Exchange. 1985 launched the world's first freight futures market, enabling shipowners and charterers to minimize the risk of freight fluctuation. Baltic International Freight Futures Exchange opens.
1985 Baltic freight rate-BFI(BALTIC FREIGHT INDEX) index was launched, which is the first series of freight rate market indexes with the Baltic Sea as the calculation object. The index is a comprehensive index composed of freight rates of several traditional dry bulk carrier routes according to their respective importance and proportion in the shipping market. The index is set at 1 October 4th10,000, which consists of 1.3 routes. Each batch of goods is as small as 6.5438+400,000 tons of fertilizer and as large as 65.438+200,000 tons of coal, and there are no regular charter flights.
1992, terrorist bombs blew up the Baltic exchange, but the exchange was still in operation, first in Lloyd's, London, and then moved back to the original part of the old exchange building.
1994 Baltic aviation exchange celebrates its 250th anniversary.
1995, a permanent place was established at No.38, St. Mariax Street, which is the Baltic Air Exchange we see today.
On September 1, 1999, the Baltic Exchange decomposed the BFI index which originally reflected Panama-type ships and Cape of Good Hope-type ships into two indexes, namely the Baltic Freight Index (BCI) and the Baltic Panama-type ship freight index (BPI), which together with the established freight index BHI*** constitute the three major ship freight indexes and the routes formed by the indexes. In June of the same year 1 65438+1October1,the Baltic dry bulk freight index (BDI) based on BCI and BPI replaced BFI and became a barometer representing the trend of the international dry bulk transport market.
June 5438+October 2006 10, Baltic Shipping Exchange invested millions of dollars to establish an e-commerce platform-BalticExchangeCom, which was officially launched to facilitate its thousands of members to conduct faster electronic transactions on the Internet. Kitchen, chairman of the Baltic Shipping Exchange, said that the e-commerce platform is an eye-catching innovative product of the organization, which enables members from different countries and regions to conduct electronic transactions more conveniently.