UK´s Simpson Spence Young (SSY) shipbroker has agreed terms to acquire the offshore specialist shipbroker, F3 Offshore Group with offices in Hamburg and Dubai.

The F3 Offshore purchase is SSY’s second strategic acquisition in the offshore sector this year, as SSY also acquired the Norwegian shipbroker, Westshore AS in February.

Founded in 2009, F3 Offshore were the first brokerage to specialise in North Sea renewables and have fast become a key player in both the North Sea and the Middle East respectively.

SSY will open its 24th global office in Hamburg, Germany while expanding its existing presence in Dubai.

Stanko Jekov, SSY Managing Partner commented: “I’m delighted to welcome F3 Offshore to SSY which will undoubtedly help us to accelerate our ambitions in the global offshore space. Not only do F3 Offshore continue to have a real sense of passion for the business, it also has the expertise and tenacity to transform that passion into tangible results”.

Jekov continues “I’m also very happy to establish the 24th SSY office in Hamburg which is one of the most strategically important ports in Europe”.

Frank Holck, F3 Offshore Managing Director said that “SSY has ambitious plans in offshore and are moving at pace to make those ambitions a reality. To be joining a global brokerage which has both the drive and the scale to fast track our strategic ambitions is incredibly exciting and I look forward to offering our clients a larger portfolio of services with an enhanced local footprint”.