IMAREX expands global freight options team

Mr Strand Andersen moves into the new position from his role as Tanker Freight derivatives broker at IMAREX Asia, and brings a new level of expertise to the global options desk. IMAREX reported a 30% increase in freight option volumes traded in May, with a total notional value of US$335 million.

Mr Strand Andersen joined IMAREX in 2007 after completing his Masters degree in Applied Finance from Macquarie University in Sydney. Strand Andersen is also known for his skills skippering fast yachts, including the SY IMAREX which came third in the 2007 Rolex Sydney to Hobart Yacht race.

Joining Strand Andersen on the Options team is Mr Tim Bishop. Bishop joins IMAREX from ICAP where he most recently worked as a single-stock options broker. Bishop has been working with options since 1994 in various markets including, Euribor, Sterling, Bunds and the DAX.

"IMAREX now fields a global freight options team of 4 dedicated and experienced brokers working out of Oslo and Singapore in both the tanker and dry bulk derivatives markets, and we are seeing strong growth in that sector as a result," says Mr Cato Wæhle, Acting CEO at the International maritime Exchange ASA in Oslo.

For more information, please contact:

• Ola Strand Andersen, email: osa@imarex.com
• Tim Bishop, email: tb@imarex.com
• Cato Wæhle, email: cw@imarex.com