The £87m ($108m) price the shareholders of the Baltic Exchange accepted in September from the Singapore Exchange (SGX) is a really good deal for either the buyer or the seller, depending on what happens next in the freight market.
What SGX is buying — apart from some nice real estate at St Mary Axe in London, which was valued at £25m to £27m before the Brexit vote — is the growth potential of being the dominant freight rate provider in the forward freight agreement (FFA) market.
