International shipbroker Simpson Spence Young (SSY) has announced that its futures division is establishing a new carbon derivatives trading desk and offsetting service, which will be headed by James Ash. A host of other brokers have started this new business line in recent months.
The new carbon desk will be supported by SSY’s in-house research team, as well as through partnerships with Signal Ocean and Marine Benchmark.
The enlarged team will build on SSY’s ability to accurately estimate a vessel’s future emissions or provide a complete audit of its actual emissions.
Mark Richardson, chairman of SSY, said: “We’re delighted to welcome James to the SSY team, and we look forward to working with him to help develop this important area of the business. Supporting our clients to manage their carbon emissions strategies is a key priority for SSY.”