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Tradition, Galbraith’s

Galbraith’s has established a joint venture wetfreight brokerage service with Tradition, a leading interdealer broker (IDB). The company will offer full wet-freight brokerage services, including FFAs. Some of the team of five brokers will be based at Tradition’s office in London, with the remainder based in Galbraith’s offices.

Tradition’s FFA team will be lead by Justin King, who joined Tradition from Imarex, where he was head of the global tanker business. King has almost 20 years’ experience in the derivatives markets.

“Tradition is delighted to launch this joint venture with Galbraith’s,” says Michael Anderson, European Head of Energy and Commodities at Tradition. “We believe the combination of Tradition’s existing strengths in the oil derivatives markets and Galbraith’s strong physical shipbroking presence is an exciting prospect for clients.

This joint venture will provide the market with added value, by bringing together the leading energy broker with one of the most respectable shipbrokers’’ Galbraith’s chairman, Richard Sayer, said that the outlined venture would be of strategic value to both companies, creating a potent force in the wet FFA market.

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