Swiss shipbroker Ifchor is continuing its expansion with two new hires in its bulker and sale-and-purchase divisions.

The company said a new office in Zug, Switzerland, will be led by Giando Dormio, former managing director of Simpson Spence and Young's Zug and Geneva offices.

Dormio brings more than 25 years of experience of dry bulk markets to Ifchor's handysize, ultramax and panamax desks.