Braemar ACM has established a new futures division as it looks to follow up the purchase of Atlantic Brokers Holdings and the recruitment of a dry cargo forward freight agreement (FFA) team with further expansion.

The Braemar Shipping Services shipbroking division bought Atlantic Brokers in February in a £4.8m ($6.3m) move that dovetailed with the recruitment of its first dry cargo FFA brokers, details of which had not previously been disclosed.