International shipbroker IFCHOR Galbraiths (IG) is acquiring Brazilian dry bulk shipbroker Aries Shipping for an undisclosed price. 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.
According to IG, this definitive agreement, the companies entered, 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 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.”
Aries Shipping founder Marcela Rosman added: “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.”
Aries Shipping is active in the dry bulk sector and, in accordance with IG, is particularly strong in the steel sector handling both steel and associated raw materials as well as sugar and part cargoes.
On the other hand, Switzerland-headquartered IG, which traces its roots back to 1845, has a growing network of 25 global offices. 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.
