Angus Procter, of Braemar ACM-GFI, has been elected as Chairman of the Wet FFA Brokers Association (FFABA). He replaces Pat Donnelly, also of Braemar ACM-GFI, who has chaired the group, which represents the worldwide community of tanker Forward Freight Agreement (FFA) brokers, since 2017.
Founded in 1997, the FFABA is the worldwide association for
Angus Procter said:
“We’ll reinforce this with educational forums and workshops during the year, helping to make FFAs more accessible and build understanding of how derivatives are used to stabilise a physical chartering book. I look forward to working closely with all involved in the Wet market over the coming year.”
The Baltic Exchange provides the tanker FFA market with daily independent assessments of 24 dirty and clean routes and responds to new trades and routes by introducing new assessments. A further five new clean and dirty tanker routes are currently being trialled.
In 2018 the Exchange introduced daily
Angus Procter has worked on the wet freight desk at Braemar ACM-GFI since October 2010, working his way up to senior broker. In addition to wet FFAs, Angus has experience in brokering LPG, fuel oil and Dry FFAs.