ICAP Shipping announces acquisition of Island Ship Brokers Pte Ltd

21 February 2012


London, 21 February 2012 – ICAP Shipping, the shipping arm of ICAP plc, the world's leading interdealer broker, today announced that it has acquired Island Shipbrokers Pte Ltd, a shipbroking company based in Singapore, from Tim Madley, Allan Spangsberg and Mystic Enterprises Limited. Island Shipbrokers Pte Ltd’s core business is tanker chartering, sale and purchase, new building contracts and shipping projects. Island Shipbrokers Pte Ltd has net assets of USD2.4 million, gross assets of USD8.4 million and employs 39 staff in its Singapore office.

Henry Liddell, Chief Executive Officer of ICAP Shipping, said: "Island Shipbrokers' extensive experience in the tanker chartering and sale and purchase markets will complement our existing London and Shanghai operations and strengthen ICAP Shipping’s growth in the Asia region. Having been involved with Island Shipbrokers since its inception, the synergy and working relationships between the two companies is already excellent and we look forward to integrating them into the ICAP Shipping group. Island Shipbrokers is a leader in Asia and we are delighted to welcome such experienced professionals onboard."

Tim Madley, President of Island Shipbrokers Pte Ltd, said: "Joining ICAP Shipping is a natural fit for us at this point in our development and we look forward to becoming a part of this dynamic and growing business. Our performance in the physical tanker chartering and sale and purchase markets will be further enhanced by ICAP Shipping's capability in tanker derivatives and research. With an enhanced client list and a broader network of global coverage, we will be strongly placed to continue expansion in the Asian shipping markets."

ICAP Contacts:

Brigitte TraffordDirector of Corporate Affairs+44 (0) 20 7050 7103
Candice AdamArgentus PR+44 (0) 20 7397 2915

About ICAP Shipping:

ICAP Shipping offers a broad spectrum of shipping services, including dry cargo and tanker chartering, sale and purchase, freight derivatives and research. The company operates out of London, Singapore, Stamford (Connecticut), Shanghai, Hamburg and Gibraltar. Additional information can be found at www.icapshipping.com.



Contact Us

Bryony Scragg
Media Relations - NEX
bryony.scragg@nex.com 0207 818 9689 LinkedIn
Bryony scragg

RELATED NEWS

01 April 2015

ICAP Shipping and Howe Robinson launch new venture...

London, 1 April, 2015 – ICAP Shipping, the shipping business of ICAP plc, a leading ...

Read More
19 November 2014

ICAP Shipping and Howe Robinson

London, 19 November 2014 – ICAP plc (IAP.L), a leading markets operator and provider...

Read More
27 September 2012

ICAP Shipping announces acquisition of CTI Shipbro...

London and Singapore, 27 September 2012 – ICAP Shipping, the shipping business of I...

Read More
12 December 2011

ICAP Shipping and Saxo Bank involved in world̵...

London, 8 December 2011 – ICAP Shipping, the shipping arm of ICAP plc, the worldR...

Read More
RESOURCES

RESOURCES

Browse media and documents
which are available to download.

Images & Video
INSIGHTS

INSIGHTS

Keep up with the latest coverage
of NEX and its industry experts.

See our insights