Piraeus-based Anchor Shipbroking has been acquired by Simpson Spence Young (SSY), the world's largest independent shipbroker.
Anchor specialises in sale-and-purchase business in the secondhand market, newbuildings and recycling, as well as research and valuations. It has clients around the world, a release said on Friday.
The Anchor team will join SSY’s dry cargo team, to be based at the broker's new Athens office in Glyfada, as TradeWinds reported on Monday.
The acquisition is part of SSY's long-term investment strategy to build its forward orderbook, combining newbuildings and S&P with long-term period contracts and projects, the company said.
Mark Richardson, chairman of SSY, said the Anchor team's expertise will help strengthen the group's S&P offering and develop new markets.
"This is an exciting time for us as we continue to grow and look for further acquisitions to expand the SSY team," he said.
Anchor Shipbroking was founded in 2019 when Koulis Theodorakakos, co-founder of Bulkers Shipbroking, left the company with four other employees.
Theodorakakos said: "We are glad to be part of a global leader with whom we already have an excellent relationship and strongly believe that this is an amazing venture for both companies.
"In SSY we have found a sound and experienced global partner, allowing Anchor's team to reinforce its local lead and expand its international position."
Theodorakakos' partners in Anchor are Michael Spiliopoulos, Kostas Theodorakakos, John Tsigaridis and Stavros Zaglakas — all formerly at Bulkers Shipbroking.
They were joined by Constantine Tzavelas, former head of the S&P department at Golden Destiny, another Piraeus brokerage.
SSY has been on a mission to expand its S&P activities and last year hired ex-Affinity broker Toby English as global head of the department.
"The Greek market is a crucial part of our S&P activities, and Anchor will be an invaluable addition to this, enabling us to provide a more dynamic service to our clients across a number of sectors," English said.
