STAMFORD, CT, June 13 — Nine months ago when SSY Capital LLC was formed as a unit of the world’s leading independent shipbroking house, Thomas M. Kane, President of SSY Capital stated "With SSY’s global presence in the world’s maritime clusters and our in-depth access and knowledge of capital structures and sources, we have the tools to provide sharp and efficient financial products to the shipping industry." The recent closing on the ETA transaction caps a productive gestation period for the unit and confirms that market information and strategic financial engineering make a good match.

The ETA deal provided 100% acquisition financing for the purchase of a Handymax bulk carrier for $16.55 million. ETA (Emirates Trading Agency) is the Dubai-based bulker and tanker operator with a stated ambition of becoming a large ship-owner through its current and proposed purchase of about 76 vessels over five years. It plans to invest $2.7 billion to fulfill the company’s objective to reduce its dependence on chartered-in tonnage.

The ETA announcement follows closely on the heels of the successful completion of a $95.0 million facility for the acquisition of 5 handysize bulkers on behalf of SSY Capital’s client Pacific King Shipping. That deal, too, underscores SSY Capital’s strengths as financial engineers specializing in a wide range of financial structures.

"When we created SSY Capital nine months ago, it was to meet an industry need for a resource that blends market information with financing capabilities and products" stated Kane. "The ETA and Pacific King transactions demonstrate our ability to provide our clients with innovative financial solutions, and we are optimistic about our deal flow for the second half of the year."

SSY Capital offers financial products tailored to its clients’ needs. A comprehensive range of products are available to clients, including project and asset finance facilities, a variety of lease and debt financing structures, as well as non-traditional forms and capital sources.

SSY Capital is a unit of SSY, the world’s leading independent shipbroking group, and is headquartered in Stamford, CT. The Company has opened branch offices in London and Singapore to support its global objectives.

LONDON/STAMFORD, October 4 - The partners of SSY, the world’s largest independent shipbroking group, announced today the formation of SSY Capital LLC to serve global shipowners in the capital markets. The new unit will be led by Tom Kane, a leading American finance expert with particular expertise in international finance.

SSY Capital will offer financial products tailored to its clients’ needs. Several products will be available to clients, including project and asset finance facilities, a variety of lease and debt financing structures, as well as non-traditional forms and capital sources.

SSY recently celebrated its 125th anniversary. In the last 20 years, SSY has expanded its traditional broking expertise to include maritime consultancy and research, gas, chemicals, containers and freight derivatives. SSY is a primary source of shipping news, including trade and fleet data, freight rate and market assessments, and is presently located in 13 global offices.

"In launching SSY Capital, we are offering the industry a closer link between market information and capital opportunities" stated John Welham, Chairman of SSY. "We identified the gap that existed between primary source information to owners and capital sources. Tom and his team bridge that gap, and we can lend our expertise in freight derivatives and futures markets to enable SSY Capital to craft optimum financing solutions for both the shipowner and the investor."

Tom Kane, President of SSY Capital, has over 25 years of experience in international finance, transportation finance, computer and technology finance. Prior to joining SSY Capital, Mr. Kane was a director of Boeing Capital Corporation. He is joined by Alex Taylor and Joshua Katzeff, both formerly of Global Capital Finance and The Transportation Group.

"We believe the industry needs a resource that blends market information and financing capabilities", offered Tom Kane. "With SSY’s global presence in the world’s maritime clusters and our in-depth access and knowledge of capital structures and sources, we have the tools to provide sharp and efficient financial products to the shipping industry."

SSY Capital is based in SSY’s offices in Stamford, CT, and is opening branch offices in Europe and Asia to support its global objectives.