Shipbroker Braemar is expanding its base into South Korea and has made a key Singapore-based hire who is set to lead the brokerage’s decarbonisation business.

Braemar Asia Pacific managing director Vaughan English told TradeWinds that the company has just opened a new office in the South Korean capital, Seoul, to support the business growth in the region.

English said the new base is kicking off with two brokers — one working on dry cargo and another on container shipping.

But he said the office, which currently has space for 12, could grow to cover the existing sectors the company works in such as tankers, projects, chemicals, sale and purchase, LNG and newbuildings.

“So are we’ve been active from afar but now’s the time to get involved,” the Singapore-based MD said.

The new base adds to Braemar’s other Asia-Pacific regional offices in Singapore, Beijing, Shanghai, Melbourne, Perth and Dubai.

Separately, English said Braemar has made an important hire for its Singapore team.

Joey Ng has recently joined as global head of decarbonisation and fuel transition.

Chartered accountant Ng, who joins from Australian mining company Fortescue, has worked in the shipping industry since 2016 covering a variety of roles including finance, research, projects, marine decarbonisation and fuelling transition.

He has previously worked with Fortescue Future Industries on its green ammonia bunkering project of its 2,874-gt FFI Green Pioneer (built 2010) in Singapore this year.

Braemar said Ng brings “real-world working knowledge and hands-on experience of alternative fuels, emissions, safety and people”.

English, who previously worked with Ng at Eastern Pacific Shipping where the new team member started as an analyst, describes his new decarbonisation lead as “super passionate about the future” and a “rules and regulations dynamo”.

This is what he lives for, he said, adding that the industry needs people passionate about its future and the environment.

English, who confided that Braemar is already involved in work relating to ammonia, hydrogen and CO2 transportation, said Ng will focus on green project business development, working on the commercial, finance and regulatory aspects.

Ng said: “The world is racing towards tackling climate change in the public and private sectors. The call for a more sustainable global economy has never been louder and shipping is a critical piece of the puzzle accounting for 90% of all trade globally.”

“Shipping is undoubtedly one of the most cost and carbon-effective modes of transportation but faces the uphill challenge of growing consumer demand, changing regulations and the need to decarbonise,” he said.

“To achieve this step-change goal, we need to support the industry by separating fact from fiction and offering sound and reliable information that the industry can make decisions on.”

The brokerage said Ng will work closely with the Braemar “Green” team spanning the UK, US, Australia and now Singapore.