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New chairman for Baltic Exchange Advisory Council

Published by , Assistant Editor
Dry Bulk,

Duncan Dunn has been elected Chairman of the Baltic Exchange Advisory Council with effect from 2 January 2018. He replaces Lambros Varnavides who has held the position since November 2017. Duncan Dunn is a Senior Director at SSY Futures and has served as Baltic Exchange Vice Chairman since 2017.

Chief Executive of Baltic Exchange, Mark Jackson, said: "Duncan Dunn has been an energetic member of the Baltic Board for a number of years; is highly experienced in the freight derivatives market; and has an intimate understanding of the needs of the broad Baltic Exchange membership. The Baltic Advisory Council is a key body which gives voice to our membership and ensures that our products and services meet their needs. I'm delighted that he will now be our Chairman."

"I would like to thank Lambros Varnavides for his great work during his term of office and helping steer the Baltic through its first year under ownership of the Singapore Exchange (SGX)," he added.

Duncan Dunn commented: "Having been a member of the transaction committee for the sale of the Baltic, I am thrilled to have the opportunity to continue working toward its long-term success. The transition, from a member owned organisation into a new ownership structure, will not be without challenges, but I am confident that the Baltic will continue to serve the interests of its members and the wider shipping community. I look forward to the year ahead and to the pleasure of seeing old friends and meeting many more of the Baltic's members. As a member of the FFA community I will continue to promote their use to a global audience."

The Baltic Exchange Advisory Council is the governing body which oversees the Baltic, including its Membership Committee and Charities Committee, in relation to the Baltic Exchange's strategy for membership services, social responsibility, charities and relationship with its members, governments, regulatory bodies and the global shipping community.  

Members of the Baltic Exchange nominate from among themselves eight representatives on the Baltic Exchange Advisory Council.  

The Chairman of the Baltic Exchange Information Services Governance Council, the Chief Executive Officer of the Baltic Exchange and two directors of the Baltic Board also sit on the Baltic Exchange Council. The Baltic Exchange Council elects its Chairman and Vice Chairman from among its Member Representatives. The Chairman of the Baltic Exchange Council is invited to attend meetings of the Baltic Board where required.

Duncan Dunn has worked in the derivatives industry since 1986 in both broking and fund management roles, at companies including Rudolf Wolff Fund Management Ltd, Union CAL Ltd, and Man Financial Ltd. 

In 2004 Duncan joined SSY Futures Ltd and is a Senior Director, responsible for business development, marketing and regulatory compliance.

In July 2009 Duncan was appointed a director of the Baltic Exchange and has additionally served as a director of Baltic Exchange Index Services Ltd and Baltic Exchange Derivatives Trading Ltd (Baltex). In 2017 Duncan became Vice Chairman of the Baltic Exchange Advisory Council.

SSY Futures Ltd is a specialist Forward Freight Agreement (FFA) and dry bulk commodity derivatives broker and is part of Simpson Spence Young, the largest privately held shipbroker in the world. 

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