The 18th-century port
|Ship broking and the Baltic Exchange|
The Baltic connection
In the early Georgian period, tallow (used to make candles and soap) was an important commodity shipped from the Baltic, in northern Europe.
Traders with goods to send to the Baltic met captains looking for cargoes for the return journey at the Virginia and Maryland Coffee House in Threadneedle Street.
In this way, the members of the Exchange aimed to match bulk ships with bulk cargoes.
From coffee house to Baltic Exchange
In 1823, as London's global trading connections expanded, the Baltic Club was founded. It was a formal association and it standardized trading regulations.
In 1900 the club merged with the London Shipping Company and formed the Baltic and Mercantile Shipping Exchange. The organisation then moved into new premises at Jeffrey Square in the City. Today the organisation is the world's main international shipping exchange.
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