Purchase Of The Business And Certain Assets Of BMT Marine

Press Release
Monday, May 09, 2011

Braemar is pleased to announce the purchase of the business and certain assets of BMT Marine and Offshore Surveys Limited (“BMTMOS”) on 6th May 2011 from the Administrator, Deloitte.

BMTMOS provides Hull and Machinery, P&I and Marine Warranty survey services around the globe; clients operate primarily in the insurance, shipping and offshore industries.

BMTMOS has 94 employees, most of whom are marine surveyors, who operate from 21 offices around the world.  Going forward the business will join with the established marine survey operations of the group’s technical division and will trade under the Braemar name.

The cash consideration for the transaction was £2.4 million, paid on completion. In its financial year to 30 September 2010 BMTMOS reported a normalised EBITDA of £0.9 million, and at that date the book value of assets acquired was £3.5 million.

Braemar CEO, Alan Marsh, said “This is a very exciting development for the technical division of Braemar Shipping Services Plc Group, enabling us to deliver a truly global service to our clients”.
 

Source: http://www.seascope.co.uk/

Maritime Today


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

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

People & Company News

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Offshore

Shipping Industry Flying On The Dragon’s Back

As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Ship Electronics 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: 0.0889 sec (11 req/sec)