PwC completes latest independent assurance audit of Baltic Exchange Information Services Ltd dry bulk and container indices

Baltic Alternate Info Companies Restricted (BEISL) has printed its newest impartial assurance studies following its most up-to-date audit by PricewaterhouseCoopers LLP (PwC).

The impartial audits, that are commissioned yearly by the administrators of BEISL, are carried out to make sure the way in which Baltic Alternate assesses ocean bulk and container markets stays strong and complies with the nationwide and worldwide rules, tips and rules it’s required to stick to. These embrace guaranteeing the controls are in place in response to the UK Benchmark Regulation, the IOSCO Ideas for Monetary Benchmarks, the IOSCO Ideas for Oil Value Reporting Companies, and Baltic Alternate’s personal Information to Market Benchmarks and Information to Freightos Baltic World Container Index.

The newest studies, which is the fifth annual cycle between BEISL and PwC for Ocean Bulk and the third cycle for Container Indices, embrace cheap assurance opinions by PwC over the design and working effectiveness of BEISL’s controls, all through the interval 1 January 2024 to 31 December 2024, for its market benchmark providers, together with information assortment, programs and processes, calculations and publishing.

“Regardless of a interval of uncertainty and volatility in each the ocean bulk and container markets, BEISL continued to supply dependable assessments to our customers all through 2024. Our newest set of audits from PwC continues to point out that our information is audited, verifiable and impartial, and that customers trust that our indexes are developed in accordance with business requirements,” mentioned Mark Jackson, Chief Government Officer of Baltic Alternate Restricted.

“Baltic Alternate information is routinely used to settle bodily and futures contracts, and the standard and validity of our information is a key basis of our providing to our customers. By as soon as once more partnering with PwC to evaluate our indexes, we proceed to take care of our excessive requirements and guarantee our benchmarks are administered in accordance with business necessities and greatest follow,” mentioned Matthew Cox, Head of Benchmark Manufacturing at Baltic Alternate.

“We proceed to imagine that guaranteeing our methodology and controls are independently assessed by one of many world’s main audit companies is in the very best curiosity of our numerous stakeholders, companions, purchasers and customers world wide,” he added.

Baltic Alternate members can entry each studies by way of the MyBaltic portal or by clicking right here for the ocean bulk report and right here for the container report.

Different events ought to electronic mail compliance@balticexchange.com to request full copies of the studies or in the event that they require additional info.