Sam Mitchell elected as Tanker FFABA Chairman

Feb 20 2023

Sam Mitchell, of Braemar-GFI Freight Derivatives, has been elected as Chairman of the Tanker FFA Brokers’ Association. He replaces Andrew Hamilton of Oil Brokerage.

Sam Mitchell, of Braemar-GFI Freight Derivatives, has been elected as Chairman of the Tanker FFA Brokers’ Association (FFABA). He replaces Andrew Hamilton of Oil Brokerage who has chaired the group - which represents the worldwide community of tanker Forward Freight Agreement (FFA) brokers - since 2021.


I’m delighted to have been elected Chairman of the Tanker FFABA," said Mitchell.


"In spite of limited liquidity in other market segments, FFA volumes are at record levels. Geopolitical tensions have only amplified the need for hedging freight.


"FFAs will continue to be an important risk management tool for maritime stakeholders in an era of global uncertainty and volatility.


"I look forward to collaborating with market participants - both brokers and traders - and encouraging more liquidity and transparency.”


One of Mitchell's priorities for this year will be to increase traction across new routes.


"We have already seen good traction on TC20 since its recent inception," he added.


"We must ensure these new trading routes remain in focus alongside the already established routes."


The derivatives market for clean and dirty tankers saw increased traded volumes in 2022, according to Baltic Exchange data. Tanker Forward Freight Agreement (FFA) volumes hit 734,972 lots, up 33% on 2021.


Founded in 1997, the FFABA is the worldwide association for Forward Freight Agreement (FFA) broking firms. Working with the Baltic Exchange, the FFABA organises educational workshops and industry forums in major shipping centres, with the aim of promoting FFAs as an important tool for managing exposure to freight rates.


Mitchell has worked with GFI Group since 2012 and is a University of Essex graduate.



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