The Baltic Exchange

Its history is traced back to the Virginia and Baltic Coffee House in Threadneedle Street in 1744 where merchants and sea captains met. In 1823, the Coffee House became too crowded, and the Baltic Club was formed and the rules of the exchange were established, traders with goods to send to the Baltic met captains looking to match available space for cargoes for return journeys. It dealt in tallow, an important commodity used to make candles and soap, and also tobacco, cotton and sugar from USA.

In the 19th century the use of candles died out with the use of gas lamps. In 1903 new premises were built in St Mary Axe, with a magnificent dome and stained glass windows. 

In 1992, this building was badly destroyed by an IRA bomb, and it was demolished. On its site is now the iconic Swiss Re building known as the Gherkin.

The Baltic Exchange moved premises a little further down to 38, St Mary Axe. Some of the stained glass windows were saved and can now be seen at the Greenwich Maritime museum. 

Today, its business is the worlds main international shipping exchange, dealing with ship broking, matching cargoes and insurance requirements. 

The original Baltic Exchange, now the site of the Swiss Re building.