Braemar Earnings Boosted by 'Rena' Operations

Press Release
Wednesday, January 23, 2013

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.

The Shipbroking division continues to face challenging conditions, with excess shipping capacity in most sectors affecting values and rates. An increasing proportion of Braemar's business is now done on the spot market. There were no significant changes in the market conditions in the past three months.

Braemar Technical Services performed in line with management's expectations. It continues to develop its position as a global provider of surveying, adjusting and engineering services to the energy, shipping and insurance sectors. The process of creating a single business unit is well underway.

The Logistics division, Cory Brothers, performed in line with management's expectations. A new multi-year European agency hub contract, announced in the interim results, began in November 2012. The business in Singapore has continued to grow.


 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Delia Succeeds Schmidt as Ohmsett Program Manager

MAR Incorporated has named John Delia the Program manager for Ohmsett – The National Oil Spill Response Research & Renewable Energy Test Facility, succeeding Bill Schmidt who retired in December 2015.

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Finance

Funding Secured for Project to Deepen the Delaware River

Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project.

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0971 sec (10 req/sec)