Five former shipbrokers from Braemar Seacope are rumoured to be setting up a new sale-and-purchase (S&P) shop in the UK that will open its doors this month.

Market talk in broking circles says former Braemar Seacope directors Quentin Soanes, Jeremy Davies and Gavin McClure are the names behind new London-based company Sterling Shipping Services.

The new venture, which will focus solely on all aspects of S&P including ship valuations, is expected to get underway this month, when ex Braemar Seacope broker Henry Kidd completes his gardening leave from his former employer.