Andrew Hamilton, of Oil Brokerage, has been elected as Chairman of the Tanker FFA Brokers’ Association (FFABA). He replaces Tom Stockton of Clarksons-Platou who has chaired the group - which represents the worldwide community of tanker Forward Freight Agreement (FFA) brokers - since 2020.

“I’m delighted to have been elected Chairman of the Tanker FFABA," said Hamilton. 

"With ongoing supply-chain issues and the regulatory environment reshaping the shipping world, FFAs will continue to be an integral risk management tool for maritime stakeholders. 

"We have faced a turbulent 12 months but expect to see new and returning players over the forthcoming year."

One of Hamilton's priorities for this year will be to increase traction across several key routes. 

"There is lots of interest in the TC17, TD19  and TC9 but they lack liquidity," he added. 

"Our market is currently fairly TD3C centric - and it is inevitable that TD3C will always command a large market share. 

"However, I would love to see the appetite for trading TD3C expanded across other listed routes as we look to grow the entire market.

“Another key focus area will be the market for Options across all routes – both clean and dirty. We can do more here for freight market participants looking to manage price risk”

Founded in 1997, the FFABA is the worldwide association for Forward Freight Agreement (FFA) broking firms. Working with the Baltic Exchange, the FFABA organises educational workshops and industry forums in major shipping centres, with the aim of promoting FFAs as an important tool for managing exposure to freight rates.

Andrew Hamilton has worked with Oil Brokerage for nine years. He had previously spent over a decade with Clarksons-Platou.