Shipbroker Galbraiths has hired a sale-and-purchase broker to head a new office in Singapore.
TradeWinds has learned that the company is taking on George Bolton, who was formerly with Maersk Broker in Singapore.
Bolton had previously worked with Simpson Spence Young in the island city state but jumped ship with two others in 2018 to join Maersk Broker.
Head of S&P Ed Royle confirmed to TradeWinds that the company is opening in Singapore.
Last month, TradeWinds reported that shipbroker Lorentzen & Stemoco is closing its Singapore office due to high operating costs.
Royle said Galbraiths does not comment on individuals.
But he said: “We are very pleased to be attracting quality, experienced brokers to the-sale and-purchase team.”
'Dynamic' team
Royle said having a global presence is key to delivering the bespoke service that the company’s clients demand.
“We feel we now have some of the most dynamic and productive S&P and newbuilding brokers," he added. “We want this to be tailored around one team that brings together the experience of international markets without office to office competition and believe we can offer an extremely attractive service in this regard.”
The S&P chief said Galbraiths had made several key signings in the last year, as it moves to try and develop a larger global share in the sector.
He highlighted that Adam Goodman, who was previously managing director of Arrow Asia, joined the company in October 2019.
In July, Galbraiths employed veteran Greek market specialist Nick Mayson from Grieg Shipbrokers in London, where he was head of S&P.
Prior to this, Royle said Galbraiths brought in Nick Claridge, who was previously head of S&P at Fearnleys in Singapore, to its London office, helping bring more expertise to the company’s new South East Asia focus.
Royle said Galbraiths S&P team, which also includes Chris Cowen, Neil Rokison and Simon Roberts, now has a presence in Oslo and South Korea, to complement its London operations.
Tanker business
He said the group has been capitalising on Galbraiths' tanker chartering business, with an increasing number of project transactions being credited to the S&P team.
Galbraiths, which is celebrating its 175th anniversary this year, has also been expanding across other sectors.
Last year, the company set up US offices in Houston and Connecticut, staffing them with tanker chartering brokers who had defected from shipbroker Braemar ACM.
