Icap-Hyde hires Toyne to head tanker FFA broking

FFAs are derivative contracts used by shipowners and operators, charterers and traders to protect themselves against the volatility of freight rates.

Toyne was previously chairman of the Baltic Exchange tanker freight market information group user group (FMIUG) in London. He is a highly experienced specialist within the global shipping industry, says Icap, and was made the first chairman of FMIUG in January 2004. At that time, he was working for US oil trading company Hess Energy Trading.

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