New Baltic Chairman From July

The Board of Directors of the Baltic Exchange has elected Anthony Cooke of Dart Line Ltd to serve as its Chairman, and Michael Drayton of Galbraith’s to serve as Vice-Chairman, following the Annual General Meeting scheduled for 13 July 2005, when Peter Kerr-Dineen retires as Chairman.

Mr Cooke is also a director of James Fisher & Sons plc and the West of England Ship Owners Mutual Insurance Association Ltd. He is a former President of both the Institute of Chartered Shipbrokers and the Chamber of Shipping.

Peter Kerr-Dineen became Chairman in 2003 and Anthony Cooke has served as Vice-Chairman of the Exchange since 2003.