London's Baltic Exchange has revealed its new modernised code of conduct for owners, charterers and brokers using the physical shipping and freight derivatives markets.
The guidelines have been drawn up following a "detailed review" of current arrangements by law firm Norton Rose Fulbright, with oversight by the Baltic Exchange Council and the Baltic Membership Council.
The New Baltic Code aims to "bring together a set of principles and business practices which will be applicable to not only Baltic Exchange members, but also the wider market," it said.
