Mr McClure, Vice President of Navios International, has led the Freight Market Information Users Group of the Baltic and his company has been enthusiastic in embracing a strategic approach to freight derivatives trading. Mr Evans, Managing Director of Killicks and United Arab Chartering, is a dry cargo broker, whilst Mr Petropulos heads the tanker group of recently merged Braemar and Seacope.
At today's meeting Peter Kitching, Chairman of the Exchange welcomed the new Directors, saying that the electronic platform launched a year ago by the Baltic Exchange, the world's premier shipping market, was an integral part of its strategy to consolidate its central position internationally.
In his statement to the Baltic's annual general meeting today (Weds) he said: "We will be taking this initiative forward so that we provide further services which our members want at competitive prices; this will be the major thrust in the coming period."
He continued: "We see exciting opportunities with our electronic platform which we will be pursuing vigorously in the coming months."
The platform, balticexchange.com, was launched in August last year and provides electronic access to the Exchange's freight market information which is published daily. It also provides an electronic " Floor" where Baltic members can advertise and find potential matches for their orders and tonnage. The platform is the primary channel for distribution of freight market information produced by the Exchange. These include 39 freight rate assessments, a coal assessment and six indices.
Mr Kitching stated that there had been interest in the platform and in the Exchange's freight market information from companies outside the UK who had applied to become members of the Exchange or to subscribe to the electronic platform. Some 200 non-members were using the platform on a trial basis.
In his presentation to the meeting, Mr Kitching noted that the Exchange's annual survey of earnings by member companies from commissions on chartering and sale and purchase of vessels had shown gross earnings more than US$ 500m. Describing this as "a remarkable achievement," he said that, net of overseas expenses, this represented an 18 per cent increase on year earlier figures.
"This is a contribution we can be proud of and confirms London as the leading maritime centre of the world," he added.
Against the background of a deficit for the year of £1.24m - reflecting £865,000 of expenditure on the electronic platform and a £403,000 provision against the market value of investments - the dividend is unchanged at £2.
