Asian interest picks up as Baltic’s escrow service begins to take off

A month after the Baltic Exchange started its scheme to provide safeguards for sale-and-purchase cash through Singapore’s OCBC Bank, deals are in progress.

The Baltic’s Asia-Pacific head, Chris Jones, describes interest in the escrow service as very high.

“We have received a large amount of enquiries and are in the process of doing some deals,” he told TradeWinds.

“Interest has come from both owners and brokers, and even from non-members.”