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Braemar Completes Merger with ACM Shipping

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  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.


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.


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


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


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


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.


Jamaica Opens Bremen Office

Cutting the metaphorical ribbon for the official opening of the JSR’s new office in , Hon. L. Michael Henry, CD, MP and Jamaican Minister of Transport and Works, paid tribute to ’s position as a leader in the shipping world saying its maritime cluster embraces just about every sector of this multiā€faceted and diverse industry.  He also used the occasion to outline the Jamaican government’s plans to create the island into a global maritime centre incorporating ship


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


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


Shift in Shipping Market Direction

Graphs: Allied Shipbroking

It has been a year full of turmoil and poor market performance in the shipping markets, yet over the past couple of months both sentiment and real market direction has shifted and along with this so have asset prices of secondhand tonnage, says Allied Shipbroking Weekly Market Report.  


Brexit Impact on Shipping and Sea Trade in UK

Image: Worldshipping.org

 Eversheds International says that UK trade would clearly be impacted by the Brexit vote.    "We saw an immediate effect on currency and share prices, although there are signs that the market is settling down after the initial post-vote furore," says a report by Eversheds


Brexit, Britannia And The Waves

Table: Clarksons Research

 Clarksons Research's this week’s Analysis attempts to put the UK and the EU’s role in shipping in context.   This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population’s preference to


Grosland Joins NAT as VP

Courtesy Nordic American Tankers Limited

Carl Fredrik Grosland has joined Nordic American Tankers as Vice President, working on analyses, projects and business development. Reporting to Chairman & CEO Herbjørn Hansson in a staff position, he will also work closely with others both in NAT and NAO (Nordic American


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


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


Weak Capesize Rates Depress Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels


UK Shipbroker Victim of Dubai Fraud

Courtesy Century Marine

  UK headquartered shipbroker Century Marine Services has been the victim of a sophisticated fraud by a Dubai based firm calling itself Matin Marine Services. Despite having no business relationship with Century Marine Services, Matin Marine Services has been passing itself off as connected


Liberian Registry Appoints London GM

Kostas Ladas (Photo: Liberian Registry)

The Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the Liberian Registry, has appointed Kostas Ladas as general manager of its London office. Ladas joins LISCR from London-based ship and insurance broker and agent Victoria Steamship Co. Ltd


Dry Bulkers in An Overwhelming Disappointment

Table Source: Allied Shipbroking Inc

 Dry bulkers have been an overwhelming disappointment with the year coming to an end, while on the other side of the coin we have the tanker market that has not only kept its positve momentum but managed to outpace what most had expected thanks to low crude oil price


Bulk Shippers Hit by Commodity Storm

Image: Amano Shipping

 The dry bulk shipping sector has been dashed upon the rocks of vessel oversupply and slowing economic growth.  Not dry bulk shipping business is grappling with an unprecedented crisis of too many ships and not enough cargoes, says a report in WSJ.  


Baltic Index Perks up on Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on bigger gains for the capesize index and improved activity across vessel segments.   The overall index, which factors in rates for capesize, panamax


Anticipating Market Change Crucial for Industry - Braemar

(l to r) James aBeckett, Head of Dry Cargo Broking Braemar ACM; Denis Petropoulos, President Braemar Group Asia; and Peter Ryan, Head of Consultancy Braemar Incorporating the Salvage Association. Photo Braemar Group

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.


Braemar Shipping Exists ICON JV

Pic: Braemar Shipping Services

 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


Shipbrokers Challenge Baltic Exchange

Image: Baltic Exchange Ltd

 Several key dry bulk shipbrokers have formed the Competitive Ship Brokers Limited (CSBL) to challenge the Baltic Exchange over their role in the market as it tries to sell itself to the Singaporean financial giant SGX, reports the Telegraph.  






 
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