McQuilling, IFCHOR Form Latin American Dry Bulk JV
Independent shipbrokers McQuilling Partners and IFCHOR have formed McQ-IFCHOR SA, a joint venture focused on the Latin American dry bulk chartering and advisory services.
“McQ-IFCHOR SA is a bold and exciting move by both companies. Our joint venture with IFCHOR is consistent with McQuilling’s long term expansion program of joining with a valued partner in a strategic market,” John Schmidt, CEO of McQuilling, said.
U.S.-based McQuilling has a significant Latin American footprint and opened its Lima office in 2007 to serve as the base for its Latin American business. Switzerland’s IFCHOR offers dry and wet bulk chartering, sale & purchase, research and financial advisory services, with a strong presence in the Capesize, Panamax and Handy to Ultramax international markets.
The JV will be led by Jean Magot from McQuilling’s Lima, Peru office. While the venture is in the process of hiring personnel, further staff has been assigned to the new company from McQuilling and IFCHOR Seattle, New York and Lausanne offices.
“We firmly believe that a combination of IFCHOR’s dry bulk expertise, competitiveness and connections and McQuilling’s Latin American history and presence will deliver clients with a highly effective shipbroking solution. The Latin American market, especially in terms of cargo, continues to grow and this partnership with McQuilling will enable us to provide our clients with greater access to the region,” Manu Ravano, CEO of IFCHOR, added.