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Icap-Hyde hires Toyne to head tanker FFA broking

Icap-Hyde, a London-based joint forward freight and shipping derivatives-broking venture between broker Icap and shipping broker JE Hyde, has added to its team. Simon Toyne has joined as director of tanker forward freight agreements (FFAs), responsible for the establishment and development of tanker FFA broking activities.

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

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