WHO WE ARE

We are an independent shipbroker with an approach focused on expertise rather than scale.

Please click here to open a presentation introducing Affinity (Shipping) LLP.

Affinity MACRO COMMENT

A continent still looking old, but rather healthy

Judging from the news about Germany and France, the Eurozone’s two largest economies, expectations for the future of the continent remain positive, but with no expectations of miraculous developments. Recently published surveys of IHS Markit Composite Purchasing Managers Index (PMI) for both countries have dipped this month. The German PMI fell to a three-month low of 57.4, from 59 in January, while France’s PMI reached 57.8, a four-month low. Both results follow a European Commission poll released on Tuesday suggesting that euro area consumer confidence decreased this month for the first time since July. “While February’s flash PMI figure was down on January’s recent high, it continued to point to a robust pace of private sector expansion in the eurozone’s largest economy,” said Phil Smith, principal economist at IHS Markit in response to the decline in Germany’s PMI. Alex Gill, another IHS Markit economist, commented on France: “Private sector growth in France shifted down a gear in February, with the growth rates in output and new orders each hitting four-month lows”, adding however that the statistics remained “firmly in positive territory”. PMI surveys ask businesses about orders, hiring, sales and the like to try and form a rounded view of corporate health.

Germany’s Manufacturing PMI fell to 60.3 this month from 61.1 in January, slightly below market expectations of 60.6. The main driver has been the slowest expansion in the manufacturing sector in six months. Factory output growth remained strong but eased to a four-month low. New order growth has been the lowest in seven months, with new export orders at their lowest in a year. Input costs increased, mainly due to higher prices paid for raw materials such as steel, while factory selling prices rose the most since April 2011. Very importantly, business confidence weakened to the lowest in three months.

The European Commission’s confidence indicator remained close to its highest level in seventeen years, but a recent estimate pointed to a sharp fall in February. The sentiment index dropped to 0.1 this month, much lower than the earlier estimate of 1.0. This is the first decline in the measure in seven months, after the rather strong optimism in January, when household confidence index peaked at 1.4. Even if we just observed a drop for the first time in seven months, Euro-zone consumer confidence is still expected to positively affect the household spending growth. Fuel prices are expected to fall this month while business surveys are confident for further improvements in the labour market. Consumer sentiment was probably hit by the sharp declines in global equity prices in early February. Annual household spending growth could reach 3 per cent based on the confidence data, from around 1.6 per cent at the end of last year. Continued healthy spending growth could cause the eurozone’s economic recovery to continue throughout this year, with GDP growth expected at 2.5 per cent.

German producer prices increased faster than expected in January, with the trend visible across all categories of industrial products underlying the continued strength of the Eurozone’s largest economy. Destatis’ data showed the index of producer prices for industrial products went up by 2.1 per cent in January from the same month a year earlier, against analysts’ expectations for a year-on-year rise of 1.9 per cent. The annual pace of growth was slightly slower than in December, when producer prices increased by 2.3 per cent from the previous year. As January’s growth rate is behind the impressive 2.7 per cent price growth for 2017, the German economy is expected to settle in to a steadier pace. Energy prices were up 2.2 per cent overall year-on-year, with a growth of 4.9 per cent in the cost of electricity.
Affinity Research LLP

what we do

  • Dry Cargo

    Dry Cargo

    Our dry bulk chartering teams in Sydney, Melbourne, Perth, Santiago, Singapore and London are cargo-focussed and they fix voyage, COA and time charter business on behalf of their clients with a wide range of ship owners.

    Contact: David Oakley
    [email protected]
    +61 2 9937 8806

    Finance

    Finance

    Affinity Financial Products Ltd is authorised by the FCA to provide advice and execution of regulated activities. We focus our efforts on asset-related transactions often structured as corporate share sales or mergers and acquisitions.
    We work in partnership with investment banks providing specific, shipping-related advice.

    Contact: Andrew Finn
    [email protected]
    +44(0)20 3142 0114

    LNG

    LNG

    Our young and dynamic LNG team possess wide-ranging experience of spot and term charters working with all major LNG shipowners and charterers. The LNG team has close interaction with the Newbuilding and Sale & Purchase divisions with an unrivalled track record of contracting LNG newbuildings and in the sale and purchase of LNG assets.
    We maintain up-to-date knowledge and an understanding of new technologies within the LNG sector to ensure that our clients can make the most suitable and cost-effective decisions on shipping solutions.

    Contact: Joni Mackay
    [email protected]
    +44(0)20 3142 0133

    Newbuilding

    Newbuilding

    Our Newbuilding team has concluded over 500 newbuildings of all types, including LNGCs, FSRUs, drillships, crude tankers, product tankers and dry cargo vessels. We have contracted in all major newbuilding centres globally, with particular focus on the Korean Shipyards.

    Contact: Nick Wood
    [email protected]
    +44(0)20 3142 0111

    Offshore

    Offshore

    Contact: Tor-Øyvind Bjørkli
    [email protected]

    Research

    Research

    Our research department combines real time market information with econometric modelling and the latest technology. 

    Contact: Mark Williams
    [email protected]
    +44(0)20 3142 0185

    S & P

    S & P

    Our Sale & Purchase team has extensive experience of working with private clients, national shipping companies, major corporates, oil companies, grain houses and institutional investors. We provide a cradle to grave services across all shipping sectors. We operate from London, Singapore and Seoul to give 24-hour coverage of the markets, working for both newbuilding and second-hand buyers.

    Contact: Toby English
    [email protected]
    +44(0)20 3142 0123

    Tankers

    Tankers

    Our established tanker chartering teams serve the industry from London, Houston and Santiago delivering a highly proficient spot chartering service with a prime position in the fuel oil market. The team has close relationships with oil majors, national oil companies, oil traders and major ship owners and operators. 
    Our ethos for operations and post-fixture is simple: these roles are as important to us as the chartering/commercial function, and we continue to apply those same principles of professional ship broking throughout the life of each fixture.

    Contact: Tim Gurdon
    [email protected]
    +44(0)20 3142 0142

    Valuations

    Valuations

    We provide transparent, objective ship valuation service to major owners, banks and other financial institutions at short notice and a daily basis. We provide a retainer service for regular fleet valuations.

    Contact: Ben Pusey
    [email protected]
    +44(0)20 3142 0125

    Dry Cargo

    Our dry bulk chartering teams in Sydney, Melbourne, Perth, Santiago, Singapore and London are cargo-focussed and they fix voyage, COA and time charter business on behalf of their clients with a wide range of ship owners.

    Contact: David Oakley
    [email protected]
    +61 2 9937 8806

    Finance

    Affinity Financial Products Ltd is authorised by the FCA to provide advice and execution of regulated activities. We focus our efforts on asset-related transactions often structured as corporate share sales or mergers and acquisitions.
    We work in partnership with investment banks providing specific, shipping-related advice.

    Contact: Andrew Finn
    [email protected]
    +44(0)20 3142 0114

    LNG

    Our young and dynamic LNG team possess wide-ranging experience of spot and term charters working with all major LNG shipowners and charterers. The LNG team has close interaction with the Newbuilding and Sale & Purchase divisions with an unrivalled track record of contracting LNG newbuildings and in the sale and purchase of LNG assets.
    We maintain up-to-date knowledge and an understanding of new technologies within the LNG sector to ensure that our clients can make the most suitable and cost-effective decisions on shipping solutions.

    Contact: Joni Mackay
    [email protected]
    +44(0)20 3142 0133

    Newbuilding

    Our Newbuilding team has concluded over 500 newbuildings of all types, including LNGCs, FSRUs, drillships, crude tankers, product tankers and dry cargo vessels. We have contracted in all major newbuilding centres globally, with particular focus on the Korean Shipyards.

    Contact: Nick Wood
    [email protected]
    +44(0)20 3142 0111

    Offshore

    Contact: Tor-Øyvind Bjørkli
    [email protected]

    Research

    Our research department combines real time market information with econometric modelling and the latest technology. 

    Contact: Mark Williams
    [email protected]
    +44(0)20 3142 0185

    S & P

    Our Sale & Purchase team has extensive experience of working with private clients, national shipping companies, major corporates, oil companies, grain houses and institutional investors. We provide a cradle to grave services across all shipping sectors. We operate from London, Singapore and Seoul to give 24-hour coverage of the markets, working for both newbuilding and second-hand buyers.

    Contact: Toby English
    [email protected]
    +44(0)20 3142 0123

    Tankers

    Our established tanker chartering teams serve the industry from London, Houston and Santiago delivering a highly proficient spot chartering service with a prime position in the fuel oil market. The team has close relationships with oil majors, national oil companies, oil traders and major ship owners and operators. 
    Our ethos for operations and post-fixture is simple: these roles are as important to us as the chartering/commercial function, and we continue to apply those same principles of professional ship broking throughout the life of each fixture.

    Contact: Tim Gurdon
    [email protected]
    +44(0)20 3142 0142

    Valuations

    We provide transparent, objective ship valuation service to major owners, banks and other financial institutions at short notice and a daily basis. We provide a retainer service for regular fleet valuations.

    Contact: Ben Pusey
    [email protected]
    +44(0)20 3142 0125

Click here for our terms of business

Our locations


  • Floor 44
    The Leadenhall Building
    122 Leadenhall Street
    London EC3A 8EE

    T +44 (0)203 142 0100

    View full office info

    LONDON

    Dry Cargo LNG Research S & P Tankers Newbuilding Finance Valuations


    Floor 44
    The Leadenhall Building
    122 Leadenhall Street
    London EC3A 8EE

    T +44 (0)203 142 0100

    View full office info


  • 72 Anson Road
    #13–03 Anson House
    Singapore
    079911

    T +65 6805 8760

    View full office info

    SINGAPORE

    Dry Cargo S & P


    72 Anson Road
    #13–03 Anson House
    Singapore
    079911

    T +65 6805 8760

    View full office info


  • Level 8
    420 St Kilda Road
    Melbourne
    VIC 3004
    Australia

    T +61 398 671 466

    View full office info

    MELBOURNE

    Dry Cargo


    Level 8
    420 St Kilda Road
    Melbourne
    VIC 3004
    Australia

    T +61 398 671 466

    View full office info


  • 8/38 Colin Street
    West Perth
    WA 6005
    Australia

    T +61 892 260 618

    View full office info

    PERTH

    Dry Cargo


    8/38 Colin Street
    West Perth
    WA 6005
    Australia

    T +61 892 260 618

    View full office info


  • 1st Floor
    64 Alexander Street
    Crows Nest, NSW 2065
    Australia

    T +61 299 378 800

    View full office info

    SYDNEY

    Dry Cargo


    1st Floor
    64 Alexander Street
    Crows Nest, NSW 2065
    Australia

    T +61 299 378 800

    View full office info


  • #703, Shin-A Building
    50 Seosomun-ro 11gil
    Jung-gu, Seoul
    South Korea
    100-752

    View full office info

    SEOUL

    Newbuilding LNG S & P


    #703, Shin-A Building
    50 Seosomun-ro 11gil
    Jung-gu, Seoul
    South Korea
    100-752

    View full office info


  • 601 Pacific House
    20 Queen's Road Central
    Central, Hong Kong

    T +852 2154 2237

    View full office info

    HONG KONG


    601 Pacific House
    20 Queen's Road Central
    Central, Hong Kong

    T +852 2154 2237

    View full office info


  • 1301 McKinney Street
    Suite 2975
    Houston, Texas
    77010, USA

    T +1 832 925 7500

    View full office info

    HOUSTON

    Tankers


    1301 McKinney Street
    Suite 2975
    Houston, Texas
    77010, USA

    T +1 832 925 7500

    View full office info


  • Marco Polo Parkside Building 1005,
    Anli Road No. 80,
    Chaoyang District,
    Beijing, China, 100101

    View full office info

    BEIJING

    Tankers Dry Cargo


    Marco Polo Parkside Building 1005,
    Anli Road No. 80,
    Chaoyang District,
    Beijing, China, 100101

    View full office info


  • Augusto Leguia Norte 100
    Office 710
    Las Condes
    7550155 Santiago
    Chile

    T +56 22 352 7100

    View full office info

    SANTIAGO

    Dry Cargo Tankers


    Augusto Leguia Norte 100
    Office 710
    Las Condes
    7550155 Santiago
    Chile

    T +56 22 352 7100

    View full office info


  • Inkognitogata 35,
    0256 Oslo
    Norway

    View full office info

    OSLO

    Offshore


    Inkognitogata 35,
    0256 Oslo
    Norway

    View full office info