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8 January 2015
BRS behind cape coup

The firm, which is based in Paris but maintains outposts across the globe, confirmed that it was involved a day after the deal materialised in response in growing speculation.

When contacted by TradeWinds the managing director of the brokerage’s London branch, Chris Reilly, said he and his team are “very pleased” to have played a leading role in the fixture, the likes of which has not been seen in some time.

“We are happy to be associated with this deal and are confident that it is just the start of a long and happy relationship,” he added in a brief email exchange Thursday.

Reilly also argued that the transaction is a testament to the success of a broader campaign aimed at courting blue-chip clients while expanding the presence of BRS in key regions and markets.

“BRS has a long and proud history of developing large-scale shipping solutions with industrial customers and like-minded shipping companies, and has been growing steadily over the last 10-15 years, increasing its international reach out of its Paris base,” he said.

Industry observers say they weren’t surprised to learn that BRS was behind the Knightsbridge deal since the firm has an extensive team of brokers and analysts who specialize in dry-bulk.

Going forward, a number of forecasters who note that RWE has been an increasingly active charterer of capesize bulkers in recent years believe it may pursue more period deals in the months ahead.

While the Knightsbridge fixture underscores the trader’s appetite for dry tonnage few expect to see contracts of the same magnitude in the near future but aren’t ruling out the possibility altogether.

RWE, the trading division of a leading German utility, is active in a variety of different markets. The firm chartered 15 capes from Knightsbridge, which is in the process of pursuing a merger with affiliate Golden Ocean.

Source: TradeWinds

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