Singapore Exchange’s (SGX) takeover bid for the Baltic Exchange faces a major hurdle after a group of 10 influential dry bulk shipbrokers rejected terms on offer to panellists who contribute freight data to the widely quoted Baltic indices.
The group — which includes Arrow, Fearnleys, Ifchor and Barry Rogliano Salles (BRS) — say they will not sign up unless SGX revises the terms of the takeover bid to ensure they retain ownership of the original data they provide.
“This
