Angus Procter elected as Wet FFABA chairman
Angus Procter of Braemar ACM-GFI has been elected as chairman of the Wet FFA Brokers Association (FFABA). He replaces Pat Donnelly, who has chaired the trade body since 2017.
Founded in 1997, FFABA is the worldwide association for Forward Freight Agreement (FFA) broking firms. Working with the Baltic Exchange, FFABA organises educational workshops and industry forums in major shipping centres.
Procter said: "FFABA's role is to help guide the FFA market and provide solutions for traders looking to manage volatility and freight price risk, making it easier for them to hedge physical exposure. Over the coming twelve months we'll be working with the Baltic to introduce new routes, and helping traders reduce basis risk, as well as advising clients as we head towards IMO 2020 legislation. (mw)
www.balticexchange.com/ffa/ffaba