It will now be paid for “futurising” over-the-counter freight derivatives, turning swap freight derivatives into tradable financial products that relieve regulatory pressure on the counterparties.

Chairman Guy Campbell believes the platform could shortly be profitable but warns of “very rapid action” if revenues slip.

Writing in a letter to Baltic shareholders yesterday, Campbell said a detailed review of Baltex had concluded that the “project can be launched and start to generate revenues at the required level within the next few weeks.”

The