Ifchor-Galbraiths acquires Brazilian shipbroker to boost South America presence

IFCHOR-Galbraiths has disclosed that it has entered into an agreement to buy Brazilian dry cargo shipbroker Aries Shipping, marking the shipbroker’s latest move to strengthen its presence in regional markets.

Founded in 2005 and based in Rio de Janeiro, Aries Shipping has built a strong reputation in Brazil’s dry bulk and breakbulk sectors, particularly in steel, steel-related raw materials and sugar trades.

The company was set up by Marcela Rosman, who has more than two decades of experience in brokerage operations, and deploys four staff.

“Brazil and South America at large are commodity-driven economies. Our local knowledge supported by IG’s reach and expertise will help us expand further and add significant value to clients,” said Rosman.

The acquisition follows IG’s launch in September of a Houston desk, dedicated to the US Jones Act tanker market.

IG co-chief executive Manu Ravano said the move positions the group to better serve clients in a rapidly evolving region.

“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,” Ravano said.

“In Aries Shipping we have found a partner who shares our client-first commitment and thinks beyond the transaction.”

Formed in late 2022 through the merger of London-based Galbraith’s and Switzerland-based Ifchor, Ifchor-Galbraiths employs around 225 chartering and S&P brokers active across dry bulk, tanker, chemical, offshore and gas markets.