The London-based Baltic Exchange, a major world maritime market information provider, opened an office in Shanghai on Tuesday.

The opening of the Shanghai office will boost the connections between Chinese bulk carriers and the world, providing easier ways for Chinese shipowners, shipbrokers and charters to tap into the global maritime market, said Jeremy Penn, Chief Executive Officer of the Baltic Exchange.

The Baltic Exchange's main freight index, which tracks freight rates for ships carrying dry bulk commodities such as coal, iron ore and grain, is an important reference for Chinese bulk importers.

The Baltic Exchange, which was founded in 1744, is a member organization of the global maritime marketplace.