Genco Shipping & Trading is adding to its commercial expertise with the hiring of a shipbroker from Simpson Spence Young.

The New York-listed firm announced Ivo Kempenaer, a Singapore-based capesize broker, will be vice president and commercial director for major bulks at Genco. He will head up a new Singapore office for dry bulk outfit.

Kempenaer, who has spent the last year at SSY, brings 30 years of chartering experience to the position with expertise in cargoes such as iron ore and coal.