The establishment of London Dry Bulk, which will come into effect on the 1st of March 2009, finalises the formation of the specialist Iron Ore Division. London Dry Bulk aims to offer an innovative and tailored approach to OTC broking, replicating the successful LCB coal model.
LDB will focus on helping develop the prompt physical Iron Ore market as well as broking an Iron Ore swap based on CIF China Fines of 62% Fe.
"We have a dedicated team with varied experience, who are committed to seeing these products develop into a liquid, traded market. Our team based in Hong Kong, China, India and London, giving us maximum global coverage, have already successfully concluded both physical and derivative Iron Ore trades for our customers." Clive Murray, CEO, London Dry Bulk Limited.