The Baltic Code/Балтийский Кодекс

The motto of the Exchange - "Our Word Our Bond" - captures the importance of ethics in shipping. Members need to rely on each other and, in turn, on their principals, for contracts verbally expressed and only subsequently confirmed in writing. The terms of a contract, whether oral or written, are therefore considered sacrosanct and ethical business practice is an essential commitment of Baltic Members. In addition the Directors have highlighted certain matters which are worthy of close attention from members of the Baltic Exchange, and have given the following guidance on required standards.

Contents
Introduction
The Baltic Exchange
Ethics and Market Practice
An Introductory Guide to Modern Shipping Market Practice and Terminology
Chartering
Chartering Negotiations
Tanker Chartering
Disputes
Sale and Purchase
Insurance
Freight Derivatives Market
Associated Shipping Organisations