Associated Shipbroking, a broking house led by James McLoughlin and Julian Owen out of Monaco for more than 30 years, is setting up in Greece.

The company’s new Athens branch is expected to formally launch operations soon, out of premises in the seaside suburb of Alimos — halfway between the shipping hubs of Piraeus and Glyfada.

The move is not linked to any personnel changes or to parallel efforts to poach stuff from rival broking houses.