Peter Kitching, former chairman of shipbroker Simpson Spence Young, has died today aged 80.

SSY said it was announcing Kitching's death with "great sadness" and said he was "a much-loved member of the team for 45 years."

Sending condolences to Kitching's family, Mark Richardson, SSY's current chairman said: “Peter’ s leadership, wisdom and passion helped steer us through the many ups and downs of the shipping market, and as a highly regarded shipbroker and former chairman of the Baltic Exchange, he will be sorely missed by his many friends and former colleagues throughout the industry and across the world."