GFI launches dry freight physicals desk

GFI has hired four brokers for its new dry freight physicals desk in London. The New York-based inter-dealer broker expects the desk to become operational during the second quarter and said it will complement its established business in dry freight derivatives.

Tony Parmenter, who was previously at Galbraith’s, a London ship broker, will head the desk and will bring with him his colleagues Ian Rogers, Steve Dickens and John Lewis. Parmenter will report to Steve McMillan, GFI’s senior managing director for Europe.

McMillan said the addition of the new desk meant GFI would have comprehensive coverage of the freight market – in both the wet and dry, and physicals and derivatives categories.

GFI’s dry freight derivatives desk was set up in 2004. It brokers wet freight derivatives in partnership with ACM Shipping, a tanker broker based in London.