John Banaszkiewicz, the managing director of Freight Investor Services (FIS), has been elected as Dry Chairman of the Forward Freight Agreement Brokers’ Association (FFABA). He replaces Tasos Spiliopoulos of Simpson Spence Young who served a one year term.
The FFABA is an independent association of 15 FFA broking Baltic Exchange member firms formed in 1997. The Association runs regular forums with the Baltic Exchange to promote FFA trading and bring together market participants.
John Banaszkiewicz said:
“I am delighted to be elected as Chairman of the FFABA. It’s the second time I have held this honour, as I was the inaugural FFABA Chairman in 1996. 20 years is a long time in the rollercoaster freight market; back then we probably traded 200 contracts a year, today we do over 200 trades a day.”
“As it becomes harder to make money trading physical vessels in this market, dry FFAs have become increasingly attractive. We’ve seen a 1400% rise in the Capesize T/C earnings in a month and volumes up 22% this year already. What other market offers that sort of performance?”
“The FFABA can still be a driving force for this market and especially at this important time for the Baltic Exchange, its members, shareholders and stakeholders. I want the FFABA to contribute to the conversation, to make its voice heard and express its views on all important issues.”
Click here to download a photo of John Banaszkiewicz.
The Baltic Exchange is the world’s only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 640 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic.
Baltic Exchange members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels.
Baltic Exchange services
• Independent, high quality dry, wet and gas freight market information
• Self-regulated chartering, sale and purchase and freight derivatives markets
• Central forum for competing freight market interests
• Framework ensuring high standards of business practice and co-operation
• London-based business facilities for members