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Braemar Completes Merger with ACM Shipping


  Braemar Shipping Services plc has completed the merger with ACM Shipping Group Plc (‘ACM’). ACM will merge with Braemar Seascope, the shipbroking division of Braemar Shipping Services, to form a new combined shipbroking business, which will trade as Braemar ACM Shipbroking.   Braemar ACM Shipbroking brings together two leading shipbroking companies and builds on their complementary strengths in tanker and dry cargo chartering and sale and purchase. The combined business will enable Braemar ACM Shipbroking to provide enhanced worldwide market coverage in these sectors as well as in the Offshore and Containers sectors.   Now that the merger has completed, the New Ordinary Shares have been admitted on the Official List and dealings are expected to commence today 2014 at 8.00am under the ticker symbol LSE:BMS. Previous ACM Directors, Johnny Plumbe, Tim Jaques, Jürgen Breuer and Mark Tracey have now been appointed as Directors of Braemar, alongside the existing members of the Board, Sir Graham Hearne, James Kidwell, Martin Beer, Denis Petropoulos, Alastair Farley and David Moorhouse.   James Kidwell, Chief Executive of Braemar Shipping Services plc, commented: “I am delighted to welcome all ACM employees to Braemar Shipping Services Plc. Our merger is driven by the overall vision of Braemar Shipping Services as the most valued provider of services to the shipping and energy industries

Seascope CEO Quits

British shipbroking group Seascope Shipping Holdings Plc said its chief executive Duncan Hill resigned, effective immediately. Non-executive chairman Tom Young will step in as acting chief executive until a successor is appointed. The company said Hill had decided to further his career outside the shipbroking industry.

StrategicIMX Completes Shipbroking Desktop Integration

Strategic Software has announced that StrategicIMX can now integrate all users of existing Strategic and Dataworks shipbroking software over the internet. A number of companies are already benefiting from IMX. US-based McQuilling Brokerage and Charles R. Weber are among the tanker brokers utilising the fully functional TankerIMX, a version specifically designed to cater for the tanker industry. E-Jan/DryBulkIMX, the IMX software for companies involved in dry bulk ocean transportation

Braemar Announce Year Financial Results

Braemar Shipping Services PLC announce preliminary results for year ended Feb 29, 2012 OPERATIONAL HIGHLIGHTS · Increase in shipbroking chartering transactions and robust sale and purchase performance in a challenging market · Expansion of Braemar Technical Services with the purchase of Casbarian Engineering in addition to The Salvage Association · Significant role played by the Environmental division in handling the containers from the stricken RENA in New Zealand

Braemer Shipping Interim Management Statement

Braemar Shipping Services plc issued an Interim Management Statement in relation to the period since the six months ending 31 August 2008: “Shipping markets have experienced a significant correction over the past four months and in varying degrees dry and wet freight rates and vessel values are sharply lower, mainly in response to the slowing global economic demand and the significant contraction in the availability of bank lending

Bramear Seascope Opens Oslo Office

Braemar Seascope will add to its shipbroking division by opening a new tanker chartering office in Oslo. Following the recent establishment of a deep sea tanker chartering desk in Houston, the new Oslo office will focus on the specialized tanker sector forming part of Braemar’s existing specialized team of 14 brokers. It will be led by Joachim Hagen-Hansen who will commence broking within the next three months. The office will be opened by Eirik Hagen with effect from May 6.

Williams Joins Braemar Seascope Research Team

Photo courtesy Elaborate Communications

Global shipbroker Braemar Seascope Ltd has underlined its commitment to delivering top quality market data and analysis by welcoming a new Research Manager to its London-based research team. Joining the research department is Mark Williams, an economist and consultant. Mark is a proven communicator and strategist and brings with him a wealth of knowledge and experience of the shipping markets. He has been tasked with reorganizing and boosting the capture

Seascope CEO To Retire

Shipbroking group Seascope Shipping Holdings Plc said that Tom Young, CEO and chairman, would retire from the roles and become non-executive chairman from September 30. Current director Duncan Hill is slated to become chief executive of the company from October 1.

Seascope Announces Results

British shipbroking group Seascope Shipping Plc expects year pre-tax profits of 1.8 million pounds, against two million last year, after contract delays impacted results. Seascope said its work on exchanging contracts to complete its merger with Braemer Shipbrokers was progressing. Due to the size of the deal it would be classified as a reverse takeover. The company requested its shares be suspended in relation to this.

Stewart Group Launches Subsea Division

(Photo: Credit)

The Stewart Group, an international shipbroker, has added new depth with the appointment of Michael Braid to launch its specialist subsea and renewables business. "We're delighted Michael has joined The Stewart Group team,” said Paul Love, Managing Director of The Stewart Group.  “The caliber of the appointment underpins our growth strategy in the subsea and renewables sector." The Stewart Group, which has offices in Aberdeen, London, Houston, Cape Town and Ghana

Competitiveness Key to London Shipping's Future

A new survey by The Shipping Professional Network in London (SPNL) has identified key ways in which London can remain competitive as a relevant maritime global center, and revealed a broad consensus that London’s credentials in this respect would be strengthened by the U.K

Where Arbitration Began: Maritime Arbitration in New York

In March 1656, Andrew Kilvert brought suit against Jan Geraerdy in the Court of Burgemeesters of the colony of New Netherland, demanding the release of his vessel, which had been arrested to obtain payment for the sale price of Kilvert’s ship

AXSMarine Upgrades Tanker Broker Software

AXSTanker4.0 Login Screen.png

AXSMarine has launched an upgrade to AXSTanker – commonly known as AXSTanker4.0, a software solution for competitive shipbrokers in the Crude, Clean, Gas, Chemical and Product tanker space. Within the AXSTanker community, brokers have the option to share vessel position updates with other

Daewoo Shipbuilding Eyes Maersk Boxship Order

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) is in talks with a unit of A.P. Moller-Maersk for a potential order to build ultra-large container ships, a DSME spokesman said on Monday. DSME is close to winning an order for some 11 container ships of 20

Oversupply, China Slowdown Push Freight Prices Down

Picture credit: International Chamber of Shipping

 Freight shipping prices have plummeted to a historic low, fueled by a long-standing problem of too many ships and lower demand from China, as per a report in AFP.   However, the economists say that this is not a serious warning sign on the global economy.  

Baltic Index Continues Slide as Rates Drop

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued its slide on Monday, hitting a new near-three decade low as rates for all four vessel segments fell.   The overall index, which factors in average daily earnings of capesize

Strategic Sale of Braemar's H.O.

Braemar’s distinctive head office, sold for £9.5m

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

Maersk Broker Agency Sold to Denmark Firm

Photo: Maersk Broker Agency, part of USTC Group, has acquired Maersk Broker Agency. Maersk Broker Agency will be merged with   The acquisition is part of the Denmark-based shipping and logistics company's plan to expand its position as a significant player in Scandinavian agency and

Blue Water Strengthens portfolio in Lolland-Falster

Blue Water Shipping in  Lolland-Falster

  In recent years, Blue Water Shipping's port activities have developed rapidly with activities in an increasing number of Danish port. Blue Water now extends its activities within shipbroking and port agency in the ports at Lolland-Falster

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create one of the sector's biggest players globally. The deal would be the latest in an industry which has suffered one of its worst-ever

ICAP Shipping in Merger Talks

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market

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

BMS Launches New Corporate Website

Braemar Group Logo.jpg

Braemar Shipping Services plc, an international provider of broking, consultancy, technical and other services to the shipping and energy industries, announced it has undertaken a major upgrade to its online presence through the launch of a new corporate website (www.braemar

COSCO Orders Deltamarin B.Deltas

Rendering of a B.Delta37 (© Deltamarin Ltd)

Marking another order for Deltamarin’s B.Delta37, the first Chinese shipowner COSCO has ordered four 40,000 DWT Handymax bulk carriers at Tianjin Xingang shipyard in China. In addition to the latest COSCO order, 16 B.Delta37 vessels had previously been ordered at the Tianjin Xingang

Braemar to Buy Shipbroker peer ACM; M&A Activity Heats Up

Braemar chief executive James Kidwell.

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

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