IFCHOR-Galbraiths continues Americas expansion

International shipbroker IFCHOR-Galbraiths (IG) has today (2 December) announced it has entered into a definitive agreement to acquire Brazilian dry bulk shipbroker Aries Shipping. Founded in 2005, Aries Shipping is a Rio de Janeiro based firm led by Marcela Rosman and Bruna Moraes.

This move follows IG’s launch of a Houston desk dedicated to the US Jones Act tanker market and forms part of a broader strategy to expand its global footprint by establishing very experienced local teams in high-growth regions. South America is a growing market for commodities trading, with expanding port infrastructure and an increased local and foreign ship owning presence.

 IG co-CEO Manu Ravano (pictured, far right) said: “To succeed in this dynamic region, owners and charterers need local expertise, backed up with international reach, in-depth research and cutting-edge shipbroking systems. At IG we pride ourselves on our discreet and professional advisory approach to shipping clients. In Aries Shipping we have found a partner who shares our client first commitment and thinks beyond the transaction.” 

Aries Shipping founder Marcela Rosman (second from left) commented: “We are very excited to join the IG family. IG has an inspirational vision for the future which we want to be part of. South American shipping growth is no longer just potential, it’s momentum. Brazil and South America at large are commodity driven economies. Our local knowledge supported by IG’s reach and expertise will help us expand further and add significant value to clients.”

Aries Shipping is active in the dry bulk sector and is particularly strong in the steel sector handling both steel and associated raw materials as well as sugar and part cargoes.

IG is one of the world’s largest international shipbroking firms, delivering discreet advisory services to shipowners, charterers and global commodity traders. Headquartered in Switzerland with a growing network of 25 global offices, IG delivers a comprehensive suite of shipping related solutions worldwide. Its services cover vessel chartering, ship sale & purchase, ship finance, research and sustainability related services for the dry, wet, gas, chemical and offshore & renewables markets. IG traces its roots back to 1845.