ICAP, part of the TP ICAP Group, has announced the launch of a new global Dry Forward Freight Agreement (FFA) Desk, expanding its freight derivatives capabilities and strengthening its offering to an international client base amid ongoing volatility across global freight markets.
The Dry FFA Desk has been established with a truly global footprint, with brokers located across key freight trading hubs in London, Copenhagen, Dubai, and Singapore, providing around-the-clock coverage for clients across Europe, the Middle East, and Asia, including China and Hong Kong.
The desk will be led by Max Nijhawan, who brings deep experience in freight derivatives markets. It will serve a diverse client base, including ship owners and operators, miners, grain houses, investment banks, hedge funds, and trading houses, covering Capesize, Panamax, Supramax, and Handysize time charters.
The new desk benefits from close collaboration with ICAP’s established Dry Bulk physical desk in Denmark, enabling a more integrated service for counterparties active across both physical and derivatives markets.
Nijhawan highlighted ICAP’s strong connectivity to the funds community as a key differentiator, noting that financial investors have become increasingly active participants in freight markets. With approximately 80% of global trade transported by sea, the development of liquid and well-functioning freight derivatives markets plays a critical role in enabling participants to manage risk more effectively in an increasingly volatile global trade environment.
