Deutsche Bank takes stake in iron ore brokerage
Deutsche Bank has taken an equity stake of undisclosed size in newly-established London Dry Bulk (LDB), a specialist physical and financial iron ore brokerage division of London Commodity Brokers.
The bank will be represented at board level within LDB, though LDB, which has employees based in Hong Kong , China , India and London, will remain an independent company.
"The combination of LDB's extensive management experience in physical coal markets and Deutsche Bank's expertise as co-founder of the financial iron ore swap will help LDB develop the iron ore spot and derivative market," said a Deutsche Bank statement.
LDB shows active markets on physical and financial iron ore products for FOB
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