Nearly 20 years since he was last elected to the post John Banaszkiewicz, the managing director of Freight Investor Services (FIS), is back as dry chairman of the Forward Freight Agreement Brokers’ Association (FFABA). He replaces Tasos Spiliopoulos of Simpson Spence Young who served a one-year term.
The FFABA is an independent association of 15 FFA broking Baltic Exchange member firms formed in 1997. The Association runs regular forums with the Baltic Exchange to promote FFA trading and bring together market participants.
Banaszkiewicz commented: “As it becomes harder to make money trading physical vessels in this market, dry FFAs have become increasingly attractive. We’ve seen a 1400% rise in the capesize T/C earnings in a month and volumes up 22% this year already. What other market offers that sort of performance?”