SSY swallows Anchor Shipbroking to strengthen S&P business

Simpson Spence Young (SSY), the world’s largest independent shipbroker, has decided to acquire Anchor Shipbroking.

Based in Piraeus, Greece, Anchor Shipbroking specializes in Sale & Purchase, offering a full range of services to its global network of clients.

As explained, the acquisition further strengthens SSY’s S&P offering and is part of a long-term investment strategy to build out the company’s forward order book, combining newbuildings and S&P with long-term period and projects.

Expanding the S&P division has been a key focus for the organisation and in 2021 SSY announced that Toby English would be joining the firm to head up the global S&P department which has teams based across the world including London, Singapore, Shanghai, and Hong Kong.

“We are very excited to be growing our global S&P presence with the addition of the Anchor team. The Greek market is a crucial part of our S&P activities, and Anchor will be an invaluable addition to this,” Toby English, Global Head of S&P, commented.

The Anchor team will join SSY’s Dry Cargo team that is based in the new SSY Athens office, which has recently opened in Glyfada and was announced last week.

“We are delighted to welcome the Anchor team to the Simpson Spence Young family. Their skills and expertise will help further strengthen our S&P offering and we look forward to working with them to develop key S&P markets,” Mark Richardson, Chairman of SSY, said.

“This is an exciting time for us as we continue to grow and look for further acquisitions to expand the SSY team.”

Established in 1880, SSY covers each major market including dry cargo chartering, tanker chartering, LNG chartering and projects, ship sale and purchase, chemical chartering, consultancy and research, derivatives, and towage.

SSY has a global reach, with offices in Athens, Copenhagen, Dubai, Geneva, Hong Kong, Houston, London, Madrid, Mumbai, New York, Oslo, Sao Paulo, Singapore, Shanghai, Stamford – USA, Sydney, Tokyo, Vancouver, Varna, and Zug.

Anchor Shipbroking Inc. was created in April 2019. Since its establishment, the company has almost doubled in size and covers all aspects of the S&P activity — newbuilding, second hand, demolition — in all sectors.