GFI hires five traders to offer dry freight trading

Inter-dealer broker GFI has hired five brokers to start offering dry freight derivatives. The service will complement the company’s commodities trading activities, particularly coal.

Dorian Benson, Nick Summerson, Richard Smith, Toby Joyce and Mark Ambrose were hired externally, while Gaynor Allen will switch onto the freight desk.

GFI hopes to attract ship owners, charterers, energy companies, trading houses and financial institutions to trade forward freight agreements to hedge and manage portfolio freight exposure. The broker will offer panamax, handysize and capesize dry freight contracts.

The new operation will operate out of London and Singapore.

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