Braemar Shipping Services Profit Slips
Braemar Shipping Services posted half-yearly results for the six months ended 31 August 2019 which showed that interim revenues rose 4% to GBP59.5mln, while losses dropped to £1.3mln from £2.8mln.The UK-based provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries, however, said that strong performance from shipbroking, especially in second quarter, achieving 9% revenue growth and underlying operating profit growth of 16% in the first half.Ronald Series…
Petropoulos New Baltic Exchange Chair
Denis Petropoulos has been elected Chairman of the Baltic Exchange Council with effect from June 1, 2019. He replaces Duncan Dunn who has held the position since January 2018. Denis Petropoulos was a founding partner of Braemar Tankers Ltd and remains a significant shareholder at Braemar Shipping Services PLC. He most recently headed up Braemar's Singapore office for seven years, before returning to the UK.He has been a Baltic Exchange Member since 1999 and has held positions…
Braemar Appoints Non-Executive Chairman
Braemar Shipping Services announced the appointment of Ronald Series as its Non-Executive Chairman with effect from today. Series will also chair the Company’s Nomination Committee. He succeeds David Moorhouse CBE, who retired from the Board with effect from April 14, 2019.Series, a chartered accountant, has a strong track record of leading businesses in a variety of sectors and significant experience with international companies. He is currently the Executive Chairman of DX (Group) plc…
New Appointments to Baltic Exchange Council
The Baltic Exchange has announced three new appointments to the Baltic Exchange Council (BEC), the governing body which oversees the Baltic's strategy for membership services, social responsibility, charities and its relationship with its members, governments, regulatory bodies and the global shipping community.Baltic Exchange members Guy Hindley (Howe Robinson), Denis Petropoulos (Braemar Shipping Services) and Andy James (China Navigation) have joined the Council. Lambros Varnavides and John Hadjipateras have stepped down from the Council…
Braemar Shipping Service Chairman to Retire
Braemar Shipping Services announced that its Chairman, David Moorhouse, plans to retire from December 31, after nearly 14 years as a Non-Executive Director, the last three as Chairman. Moorhouse said he is willing to serve longer, if required, to facilitate the appointment of a suitable replacement. His retirement is part of a planned reduction in his business workload to facilitate his participation in another venture.The company’s Nominations Committee is leading the process to appoint a new non-executive Chairman and an announcement will be made in due course.Moorhouse commented…
Braemar Shipping Services Adds New LNGC 'LNG Schneeweisschen'
Braemar Shipping Services announced the successful delivery of the 180,000m3 Liquid Natural Gas Carrier (LNGC) called “LNG Schneeweisschen” from Daewoo Shipbuilding & Marine Engineering (DSME), South Korea, as part of the ongoing LNGC newbuilding project between Uniper Global Commodities SE (Uniper) and Braemar.The international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries said that the vessel has been built for Japan based owners…
Braemar Acquires NAVES
Braemar Shipping Services plc announced the conditional acquisition of the entire issued share capital of NAVES Corporate Finance GmbH. Braemar is a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries. NAVES is a corporate finance advisory business focused on the maritime industry to create a new division within Braemar to be known as the Financial Division. The consideration payable…
Braemar Shipping Exists ICON JV
Braemar Shipping Services PLC on has terminated its involvement in the ACM ICON Shipping DMCC venture, announcing the sale of its 50% stake to its joint-venture partner Icon Chartering Ltd, says a report by Alliance News. Braemar said it has determined the venture is no longer part of its overall strategy. Braemar Shipping Services PLC merged with ACM Shipping Group in July 2014. Prior to that, ACM had a joint venture operating from Dubai called ACM ICON Shipping DMCC, which until now was 50% owned by ACM Shipbroking, formerly ACM Shipping Group, and 50% owned by Icon Chartering.
McClain Named MD of Braemar Engineering
Braemar Shipping Services Group PLC has announced that Sheila McClain, Executive Vice President of Braemar Engineering, has been appointed Braemar Engineering's new Managing Director. McClain will continue to be based in Houston, Texas and will assume management responsibility for global operations with effect from June 8, 2016. In conjunction with her management team, McClain will continue to develop and promote Braemar Engineering’s expertise specializing in marine, offshore and land-based LNG projects, dynamic positioning and engineering consultancy.
McClain Appointed MD of Braemar Engineering
Braemar Shipping Services Group PLC is pleased to announce that Sheila McClain, Executive Vice President of Braemar Engineering, has been appointed Braemar Engineering's new Managing Director. Sheila will continue to be based in Houston, Texas and will assume management responsibility for global operations with effect from 8 June 2016. In conjunction with her management team, Sheila will continue to develop and promote Braemar Engineering’s expertise specialising in marine, offshore and land-based LNG projects, dynamic positioning and engineering consultancy.
Faulkner Joins Braemar SA as Manager
Braemar (incorporating The Salvage Association) has appointed David Faulkner as ‘Manager, Ports and Harbours (Middle East)’. David is a Master Mariner and pilot and will be based in the Braemar SA Abu Dhabi office. He has extensive experience in providing specialist port consultancy services on aspects such as vessel manoeuvring, navigation, VTS (vessel traffic service) and marine risk, as well as providing expert opinion services to the insurance and legal markets on navigation, unsafe berth and unsafe port cases.
Braemar Engineering Founder Holderness Retires
Braemar Engineering announces the retirement of Michael Holderness, founder of Braemar Engineering (formerly Wavespec), at the end of April. Since the establishment of Wavespec in 1993, and through its acquisition by Seascope thence Braemar Shipping Services PLC in 2001, Holderness, in the role of Technical Director, has been dedicated to leading the growth of the company’s reputation as the world’s leading consultant in the field of LNG, . After more than twenty years in the role…
Anticipating Market Change Crucial for Industry - Braemar
Being in a position to accurately anticipate change in the shipping markets is becoming ever more crucial for maritime service providers, as owning principals demand more solutions to the problems created by over-ordering, according to Braemar Group Asia President Denis Petropoulos. Speaking at a press conference during Singapore Maritime Week, Mr Petropoulos said this need for in-depth industry knowledge and experience in understanding how to deal with market downturns means…
China, Iran key Drivers for New Suez Canal
The new deeper Suez Canal will be a beneficiary of the ‘One Belt One Road’ initiative taken by China’s leader Xi Jinping, especially when it comes to the opening up of the Iranian market following the lifting of international sanctions and the moving into importance of the Indian refinery markets, according to Denis Petropoulos, President of Braemar Shipping Services Asia. Iran is probably the most notable frontier for new business within ‘One Belt One Road’, delegates were told.
Middle Market Mergers and Acquisitions: A Primer
Over the past few years, we have provided regular analysis of the maritime and offshore industry mergers and acquisitions (M&A) markets. But what goes into those decisions and transactions? This quarter, an overview of the basics of mergers and acquisitions – the players, the process and the terminology – will simplify the language of M&A. In simple terms, there are really two types of buyers in the M&A world: Financial Buyers and Strategic Buyers. A ‘strategic’ is generally a larger company with operations that are similar to those of the ‘target’ company…
Strategic Sale of Braemar's H.O.
On 27 January 2015 Braemar Shipping Services Plc exchanged contracts for the sale of our leasehold interest in our Marylebone corporate headquarters to Greenhouse Sports Ltd for a net consideration of £9.5m before tax. The leasehold had a net book value of £4.0m, leading to an exceptional gain of £5.5m. The transaction is expected to complete on 26 February 2015. The consideration will be used to reduce Group indebtedness and will provide the Group with greater financial flexibility. The sale follows the successful merger of Braemar with ACM Shipping Group Plc (“ACM”) in 2014.
Shipowners and Managers to Gather in Singapore
Shipowners and managers will gather in Singapore next week to examine the strengths of their relationship and consider the state of the global shipping industry during the first International Shipowning and Shipmanagement Summit. Taking place at the Singapore headquarters of international communications specialist Singtel on October 14, the Summit features thought-provoking presentations from industry leaders representing both the ship owning and ship management sectors. The International…
Ship Owners and Managers Gather in Singapore
Ship owners and managers will gather in Singapore next week to examine the strengths of their relationship and consider the state of the global shipping industry during the first International Shipowning and Shipmanagement Summit. Taking place at the Singapore headquarters of international communications specialist Singtel on October 14, the Summit features thought-provoking presentations from industry leaders representing both the ship owning and ship management sectors. The…
Braemar to Buy Shipbroker peer ACM; M&A Activity Heats Up
Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking, said on Tuesday it had agreed to acquire the entire share capital of ACM. "What this transaction is about is growing our shipbroking presence collectively," said Braemar chief executive James Kidwell. Ship owners ordered large numbers of vessels between 2007 and 2009 just as the global economy sank into crisis…
London International Shipping Week: Speaker Line-up
Shipping industry heavyweights as well as City of London financial services luminaries dominate the line-up so far confirmed. Speakers so far confirmed include The Lord Mayor of the City of London, Alderman Roger Gifford; Koji Sekimizu, Secretary General of the International Maritime Organization; Masamichi Marooka, Chairman of the International Chamber of Shipping (ICS) as well as John Denholm, President of BIMCO. Peter Hinchliffe, Secretary General of the International Chamber of Shipping and the International Shipping Federation, will also speak.
Braemar Earnings Boosted by 'Rena' Operations
Braemar Shipping Services, international provider of shipping, marine & energy services, issues interim financial statement. The interim management statement refers in relation to the period since the announcement of the interim results on 30 October 2012. Revenue from the Environmental division was boosted by £15-million in the first half by the work on the MSC Rena in New Zealand. In the third quarter revenue from work on the container shipwreck reduced faster than expected, to £3.4m. Braemar's involvement in this project is expected to be completed by the financial year end.
Braemar Appoints New Finance Director
Braemar Shipping Services plc (“Braemar” or “the Company”) is pleased to announce the appointment of Martin Beer as Finance Director, with effect from 15th October 2012. James Kidwell, CEO, will hand over his responsibilities as Finance Director on that date. Martin, age 50, previously spent 21 years at Uniq Plc (formerly Unigate plc), where he was Finance Director from 2002. He qualified as an accountant while with PriceWaterhouseCoopers.
Hubbard to Head Braemar's London Container Desk
Braemar Shipping Services PLC appointed Nick Hubbard as head of its London Container desk. Nick has over 25 years' experience in shipbroking including over 20 years as a Container Specialist. His appointment underlines Braemar's commitment to growing the strength of its global shipbroking operation. Sebastian Davenport-Thomas, Managing Director of Braemar's Shipbroking division, welcomed the appointment. He said: "I am delighted that Nick is joining us and he brings with him a wealth of experience and a depth of knowledge of the key container broking sector."
Braemar Shipping Appoints New Chief Executive
The board of Braemar Shipping Services PLC (“Braemar”, “the Group” or “the Company”) is pleased to announce the appointment of James Kidwell as Chief Executive with effect from today. James Kidwell, age 50, is Group Finance Director and has worked for Braemar in that role since June 2002. He succeeds Alan Marsh, who will retire as chief executive today and from the board on 31st July 2012. Alan Marsh has, however, agreed to continue to play an active role in the Shipbroking division.
Braemar Launches New Salvage Support Operation
Incident response and environmental clean-up specialist Braemar Howells and its sister company Braemar (Incorporating The Salvage Association) are to work together to provide a 24-hour global response capability to the world’s shipping and marine insurance sectors. In what is being seen as a key development in the expansion of Braemar’s Technical Services (BTS) division, both companies have formed Braemar Marine Salvage Support Services which will provide on-site distressed cargo management and salvage support services to salvors…
Braemar: Interim Management Statement
Braemar Shipping Services plc today issues its interim management statement in relation to the period since the announcement of the interim results on 25 October 2011. Over the past few months activity in the Shipbroking division has increased. The Group has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers. The specialised tanker chartering desks are also performing well, having secured long term contract business and good prospects of increasing their transaction volumes in the new financial year, beginning 1 March.