Simpson Spence Young expands into energy derivatives broking
Leading independent shipbroker Simpson Spence Young (SSY) is launching a new energy derivatives service through its derivatives business SSY Futures Ltd., based in New York, London and Singapore.
Covering the gas and power markets, SSY will be offering its clients the ability to manage their physical energy risk. The company has hired experienced energy broker James Whistler as Head of Energy Derivatives to lead the team from Singapore.
SSY Chairman, Mark Richardson, said:
"This is a bold and exciting move for SSY. Our goal with derivatives is to expand our freight, iron ore, coking coal and steel services and enter into the fast-growing energy space. LNG in particular is growing fast and becoming a critical part of the energy mix. With energy markets liberalising around the world, SSY is well placed to leverage its position in shipping to offer added-value and know-how to new and existing clients. We look forward to working with James to build out this new offering."
James Whistler is an award-winning energy market professional with 18 years of experience. He was previously Director of LNG and Crude at BGC Partners.
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About Simpson Spence Young
Established in 1880, Simpson Spence Young (SSY) is the world's largest independent shipbroker. Our 400 employees cover each major market including dry cargo chartering, tanker chartering, LNG chartering and projects, ship sale and purchase, chemical chartering, consultancy and research, futures and towage.
SSY has a global reach, with offices in London, Singapore, Houston, Shanghai, Stamford - USA, Dubai, Geneva, Sydney, Bergen, Hong Kong, Miami, New York, Mumbai, Madrid, Oslo, Sao Paulo, Copenhagen, Tokyo, Vancouver, Varna and Zug.
Trusted and long-established, SSY has the privilege of working with clients across the globe, connecting people in the world of shipping.