Four SSY brokers quit in Singapore to form own firm

Four SSY brokers quit in Singapore to form own firm

Four S&P shipbrokers have quit Simpson Spence & Young in Singapore to form their own broking outfit called Avalon Shipbrokers.

“We’re in the early stages of starting up. We’ve not launched yet officially, although we are open for business,” confirmed one of the founders, John Gower, when contacted by Splash.

“I can confirm that four brokers left by mutual consent and set up their own company,” James Palmer, a partner with SSY in London, said.

SSY has faced some cutbacks in Asia this year. Its Hong Kong operations have been notably downsized, resulting in an office move to smaller premises and the transferring of some functions from Hong Kong to Singapore.

The new Avalon Shipbroking in Singapore should not be confused with another broking firm with the same name in Cape Town.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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