Tributes are flowing for former Clarksons and Baltic Exchange chairman Hugh McCoy who died this weekend.
McCoy joined Clarksons from Cleaves & Company in 1983 and was later an influential figure at The Hadley Shipping Company until retiring in 2015.
Clarksons said McCoy was widely regarded as one of the most brilliant S&P brokers of his generation and was appointed chairman in 1992, leading the company during an eventful six years.
He was only the second Clarksons broker to chair the Baltic and was described by former colleague Martin Stopford as “one of the all-star brigade of newbuilding brokers.”
McCoy, who went to sea with BP early in his career, had strong relationships with the major Korean yards and Greek shipowner John Angelicoussis.
Eric Shawyer, the former EA Gibson boss who McCoy succeeded as chairman of the Baltic Exchange, said: “Of his generation he was one of the best sale and purchase brokers.
“He had a very strong affinity with the Greeks and he was at the top of his trade in that era.”
Shawyer, who was a close friend of McCoy, added: “He was a very fastidious man and dressed immaculately.
"He was a real connoisseur on wine – he really did know what he was talking about.”
McCoy was also president of the Institute of Chartered Shipbrokers, director of the Gartmore Korea Fund a director of Transpetrol Shipowning Group and Cammell Laird Shipbuilders during his career.
“Hugh was a great man,” said Stopford, who was recruited to Clarksons by McCoy. “He was one of the last of the old guard of S&P brokers.
“There was a handful of mega-brokers at Clarksons and he was one who had this gift for helping people make important decisions.”
Richard Rivlin, who was a trainee at Clarksons during McCoy’s tenure, said: “He was an extremely articulate man and a very prominent figure.
“He was a very competitive man and a very successful newbuilding broker. He was a major player.”
McCoy was a keen sailor and active in charitable works with the his local Citizens’ Advice Bureau for nine years and, along with his wife Margaret, was a patron for Dr Barnardo’s Homes.
“Highly regarded within the industry Hugh will be greatly missed and will always be remembered for his leadership, knowledge and unquestionable passion for the business,” Clarksons said.
