Icap acquires J. E. Hyde shipbrokers

The acquired business has gross assets of £1million and employs 54 staff. Its core business of dry cargo ship broking and the sale and purchase of ships is complemented by shipping market research, yacht broking and shipping website design.

Two years ago, Icap and J.E.Hyde created a joint venture to enter the rapidly growing freight derivatives business. Paul Newman, managing director at Icap Energy, has been appointed non-executive chairman of Icap Hyde & Company. Newman says: “We have been