GFI launches physical freight desk

GFI has launched a new London-based dry freight physicals desk to complement its dry freight derivatives business. The new desk is headed by Terry Parmenter, formerly of London shipbroker Galbraith's. Also on the desk are Ian Rogers, Steve Dickens and John Lewis, all formerly of Galbraith as well.

"This expansion into physical broking enables GFI to offer complete structured risk management solutions for dry freight", said Dorian Benson, GFI's head of dry freight derivatives in London. "It also demonstrates our commitment to the shipping markets."

"With this new desk, we now have a comprehensive global coverage of freight - both wet and dry, physicals and derivatives", said Steve McMillan, GFI's senior managing director for Europe. "Terry Parmenter and his colleagues have brought a wealth of experience and we are now providing a valuable service to new and existing clients".

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