NOT every company that applies to join London's Baltic Exchange can expect to be accepted as a member, Hong Kong shipowers have been warned.
The caution follows an invitation to members of the Hong Kong Shipowners Association (HKOSA) to join the exchange, where much of the world's dry bulk shipping is chartered.
A new membership category of Overseas Associate for companies in bulk shipping has been started to coincide with the exchange's 250th anniversary in May.
Members of HKOSA are expected to show keen interest in joining, said HKOSA director Michael Farlie.
Not every company that applied to join the exchange should expect to be admitted because it maintained a strict code of business ethics.
'The Baltic Exchange will scrutinise the quality of organisations that apply for membership. Some of our members will become eligible and will be able to use the exchange's facilities,' Mr Farlie said.
