Braemar Seascope News

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 International Festival for Business in Liverpool opens today Tuesday 17 June 2014. A major component of the 250,000-visitor International Festival for Business in Liverpool this summer is the one-day CEO-level conference will focus on the crucial role the shipping and port sectors play in driving forward trade growth in the UK and abroad. The theme of the conference being 'Harnessing the Strength of Shipping Innovation'. Shipping is a cyclical industry and remains high risk for investors compared to other asset classes. Since the global financial crisis began in 2008, the shipping industry has been through one of the deepest recessions in living memory.

The ratio of container TEU capacity on-order compared to the trading fleet dropped below 20% in June, reports Braemar Seascope. The broker advises that, as the container industry is expected to take delivery of record volumes of TEU capacity this year, the order book to trading ratio has eroded to approximately 20% in June 2013. Jonathan Roach, Container Market Analyst at Braemar Seascope, said, “With more than 1.7 million TEU expected to be delivered in 2013, the ratio is set to fall to approximately 16% by the end of the year. During the six year ordering boom between 2003 and 2008, in the region of 10 million TEU of containership capacity was ordered. The order book ratio peaked at approximately 60% in 2007, when in excess of 3 million TEU was ordered.

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.

Braemar Seascope said it is strengthening its ship broking activities by opening a new division within the group’s Houston offices focusing on the large crude and products tanker trades. The new operation will launch following the employment of four tanker brokers: Nelson Hebert, Clint DeAtley, Chip Kelman and John Anderson have all come across town to the Braemar office. They will be joined by ex-MJLF broker and past Tanker Pacific chartering executive, Lynne Rutherford.

Owners of Very Large Crude Carriers (VLCC) by agreeing to current low rates are effectively paying shippers for the priviledge. Hire costs for the largest oil tankers are so low and the oversupply of the vessels is so acute that shipowners are paying to carry crude for clients, BTPremium was informed by Braemar Seascope. Owners of very large crude carriers (VLCCs) that haul two million barrels are losing US$5,700 daily on a return voyage on the industry's benchmark route to Japan from the Middle East, the London-based shipbroker said in a report e-mailed last week. That rate fails to account for possible speed cuts aimed at reducing cutting use of fuel, owners' biggest expense, known in the industry as slow-steaming.

Demolition Prices for elderly ships have fallen by a quarter in 2012 to date, and owners are encouraged to dispose of recycling candidates sooner rather than later, says Mark Williams of Braemar Seascope. Addressing the 7th Annual Ship Recycling Conference in London on 19th June, the Braemar Seascope Research Director told delegates that deflating international steel prices were likely to translate into lower offers for recycling tonnage in the coming quarters. Meanwhile, rapid reductions in the value of the Indian…

With so much discussion of the poor freight rates available to VLCC owners hiring their ships out for voyages from the Middle East to major consumers east and west, it is informative to see how much the spot market for VLCCs has changed in just a few years. Since 2005, there has been a 25% reduction in reported AG/West spot VLCC voyages from 291 in 2005 to 216 in 2011. Just 11 AG/West fixtures were recorded in January 2012; if annualised the total would be 180, only 62% of the number recorded in just seven years earlier.

As the Baltic Dry Index plumbs all-time depths, those with long memories are recalling the dark days of the 1980s for the shipping markets. However, steel traders can look forward to a bumper year of supply of vessels for recycling this year, if previous experience offers a guide for the 2012 outlook. Bets are now being taken about how many vessels will be forced by the weak freight markets into the arms of recyclers. Globally, ship scrapping capacity has very big limits being a simple business of driving ships onto beaches and cutting them up with oxyacetylene torches.

Braemar Seascope would like to advise that Debbie Turner from its LNG division will be leaving the Company in the near future. Debbie has been involved with the group for over 30 years formally with Burness Marine, which was acquired by Braemar in 1999, and thereafter continuously through until 2012.  We thank her for her services and we wish her well in her new endeavours. For the moment the Company intends no further comment.

for everyone. Dry cargo demand growth is running at strong levels due to the twin processes of industrialization and urbanization in emerging markets. Annual average demand growth between 2011 and 2015 is likely to match and may even exceed the annual 5.2% growth witnessed between 2004 and 2008 – the years of the superboom in dry cargo vessel earnings. However, the massive amount of vessel ordering during and after the boom has led to the currently epressed freight market for dry bulk carriers. Bulker fleet gross growth (i.e.

Containership orders are increasing at a dramatic rate, analysis from Braemar’s Seascope’s research division has revealed. Figures show that since the beginning of this year 52 containerships of 10,000TEU or larger have been ordered – compared to just 10 vessels from this sizeband for the whole of 2010 and zero of this size in 2009. This year’s containership orders add 765,000TEU to the post-panamax boxship orderbook. As of August 30th 2011, the total number of vessels of this size on order reached 158 ships, totalling 2.13mTEU which represents 48% of the fully cellular orderbook. Table 1: 10,000TEU or larger containerships ordered since Jan 1, 2011. Table 2 – Order year for ships of 10,000TEU or larger.

The year 2012 looks set to be the biggest year for containership newbuilding deliveries in history, in terms of TEU capacity entering the cellular fleet. According to Braemar Seascope's latest Containership Fleet Statistics, boxship deliveries in 2012 are expected to reach 1.55m TEU - beating the previous record of 1.52m TEU achieved during 2007. Braemar Seascope expects a cellular fleet expansion in the region of 9.5% for 2012, increasing the available capacity to 16.8m TEU. Of the 230 ships due for delivery next year, 59 have a nominal container capacity of 10,000 TEU or more. This will introduce an additional 0.8m TEU to this segment. Fleet growth for the 10,000 TEU plus size bracket is expected to reach 70% year on year for 2011 and a further 57% in 2012.

After 27 years of dedicated service Tony Pegum, Managing Director of Braemar Seascope Pty Ltd, has decided to leave the company and shipbroking. Tony has been a great servant to the shipbroking industry both in Australia and internationally. He is a key figure in Perth assisting Western Australian mining and resources companies with shipping advice and broking services. Tony has been pivotal in the success of Braemar's operations in such an important part of the world. Tony leaves…

Industry concerns over the glut of newbuilding deliveries last year may have been overplayed as the three major shipping market segments - dry bulk, container and tanker - avoided significant oversupply, according to figures released by Braemar Seascope. The London-listed shipbroker compared the orderbook at the end of 2009 with the full-year delivery statistics for 2010. The gap between what was anticipated to deliver and what actually delivered offers an insight into the development of the shipbuilding and freight markets. The difference between the orderbook schedule and actuality in 2010 was a function of technical underperformance at certain shipyards and the fall-out of the credit crunch. Some orders were cancelled while, in many cases, ship owners renegotiated delivery dates.

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, analysis and distribution of real time and forward-looking shipping market information to support the company’s chartering…

Dr. Peter Swift has been presented, by the Secretary General of the IMO, Efthimios Mitropoulos, with a special Tanker Shipping & Trade Lifetime Achievement Award. Appointed in February 2001 as Managing Director of INTERTANKO (The International Association of Independent Tanker Owners), Swift has spent the last ten years representing the interests of more than 250 oil/chemical tanker owners with over 260m dwt of tonnage and a further 320 associate members from the broader shipping industry. Swift is a graduate of King’s College, Durham (UK) where he studied naval architecture.

“Liquidity has come back to some extent,” said Oliver Ebner, Senior Manager, Project and Structured Finance for the National Bank of Abu Dhabi. Ebner is one of a panel of speakers lined up to address a special session on financing the industry in the global economic slowdown at Middle East Money & Ships, the region’s premier networking event for senior executives from the maritime and finance sectors. The conference from 7-8 October 2009 at the Grand Hyatt Hotel, Dubai, will also assess the continued appetite for investment in shipping, the likely pattern for recovery, where the money will come from as well as providing a realistic assessment of the current order book.

double-hull ultra handymax Diamond 53 bulk carrier. confirmed, through Graig, three orders at Shanghai's Chengxi yard. deliveries will begin in January 2005. granted by the two shipyards. says Hugh Williams, ceo of Graig. for bulkers, we expect many more to follow their lead. discussions with charterers. company based in Shanghai. Bulk Carrier with full Nauticus package including a full 3-D model. Seascope has been appointed as exclusive broker for the Diamond series. concerns raised by IMO/IACS around bulk carrier safety. and four 36 tonne electro-hydraulic luffing cranes. Diamond 53 design can be found on the www.graigcarlbro.com website. panamax vessel, the Diamond 75. capesize Diamond.

Preparations for this year's tanker gathering continue to progress swiftly, promising an interesting and comprehensive program for delegates and visitors. In addition to the INTERTANKO Annual General Meeting, Executive Committee and Council meetings, the Dubai Tanker Event will feature a series of open conference sessions covering a wide range of topics. As tankers and other shipping markets are enjoying good times on the back of a recovery in world economy and unprecedented growth in China, INTERTANKO has secured a solid panel of industry experts who will share their forecasts for global energy markets and how tanker owners best can prepare to meet future developments. With Dubai as its venue, the program will naturally focus on developments in the Middle East.

Braemar Seascope Limited and Tullett Prebon PLC announce joint arrangement for FFA broking Braemar Seascope Limited and Tullett Prebon PLC announced the formation of TP Braemar, a joint arrangement that will broke forward freight agreements (FFAs). The TP Braemar team will be based at Braemar’s offices in and will employ four FFA brokers to work on the wet FFA market. Operations will commence on August 18.

Braemar Seascope Ltd, the shipbroking arm of Braemar Shipping Services plc, has acquired the LPG broker and consultant LPG Connect International to form a product broking division called Braemar LPG Connect, to take effect from April 21st, 2009. Braemar LPG Connect will be located in Braemar Seascope’s London office and will be headed by Stuart Anderson who will also be part of Braemar’s Gas Department team, with Allison Isaac-Hierscher joining in operations. Stuart has significant broking and trading experience in this sector and will bring a new LPG broking discipline to Braemar through the move. LPG Connect International's training course partnership is not affected and will continue unchanged. (www.braemarseascope.com)