Braemar Acquires NAVES
Braemar Shipping Services plc announced the conditional acquisition of the entire issued share capital of NAVES Corporate Finance GmbH. Braemar is a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries. NAVES is a corporate finance advisory business focused on the maritime industry to create a new division within Braemar to be known as the Financial Division. The consideration payable…
Braemar Shipping Fighting The Waves
Braemar Shipping Services PLC reported a sharp decline in pretax profit for the first half of its financial year on Tuesday, hit by difficult conditions in a number of its key end markets, reports Alliance News. In August, Braemar warned its results for the year to the end of February 2017 will be "materially lower" than the prior year, with softer activity levels and freight rates amid a "marked slowdown" in the tanker segment dragging on its shipbroking revenue. The group's…
Braemar Shipping Exists ICON JV
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 part of its overall strategy. Braemar Shipping Services PLC merged with ACM Shipping Group in July 2014. Prior to that, ACM had a joint venture operating from Dubai called ACM ICON Shipping DMCC, which until now was 50% owned by ACM Shipbroking, formerly ACM Shipping Group, and 50% owned by Icon Chartering.
Faulkner Joins Braemar SA as Manager
Braemar (incorporating The Salvage Association) has appointed David Faulkner as ‘Manager, Ports and Harbours (Middle East)’. David is a Master Mariner and pilot and will be based in the Braemar SA Abu Dhabi office. He has extensive experience in providing specialist port consultancy services on aspects such as vessel manoeuvring, navigation, VTS (vessel traffic service) and marine risk, as well as providing expert opinion services to the insurance and legal markets on navigation, unsafe berth and unsafe port cases.
Anticipating Market Change Crucial for Industry - Braemar
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. Speaking at a press conference during Singapore Maritime Week, Mr Petropoulos said this need for in-depth industry knowledge and experience in understanding how to deal with market downturns means…
Braemar Sub-Licenses FSP Containment System
Braemar LNG BV, the wholly owned subsidiary of Braemar Shipping Services PLC, has issued a sub-license to FSP LNG BV for the design and construction of a new Flat-panel, Semi-membrane, Prismatic-shaped (FSP) containment system, under the terms of the license it holds with General Dynamics NASSCO to utilize its patents in the design and construction of FSP LNG containment systems. FSP technology has been developed for marine LNG transport and can also be used in a range of applications, including Floating Liquefaction (FLNG), Floating Storage Units (FSU), Floating Storage Regasification Units (FSRU) and LNG marine fuel tanks. The FSP system - a new Type B, LNG containment system - uses flat plate technology to overcome the issues associated with partial filling and sloshing.
Strategic Sale of Braemar's H.O.
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 £4.0m, leading to an exceptional gain of £5.5m. The transaction is expected to complete on 26 February 2015. The consideration will be used to reduce Group indebtedness and will provide the Group with greater financial flexibility. The sale follows the successful merger of Braemar with ACM Shipping Group Plc (“ACM”) in 2014.
Braemar Named Engineers for Brownsville LNG Project
Braemar Engineering, the marine and LNG technical consultancy arm of the Braemar Shipping Services PLC group, has been appointed as Owner’s Engineers by Texas LNG Brownsville LLC (Texas LNG) for the proposed Brownsville LNG project. The project will be constructed in a deepwater frontage site along the Port of Brownsville shipping channel, South Texas, and is anticipated to export more than 2 million metric tons per annum (MTPA) of LNG, with the first shipments planned for export in 2019.
NASSCO Licenses LNG Containment Tech to Braemar
General Dynamics NASSCO and Braemar LNG BV, a wholly owned subsidiary of Braemar Shipping Services PLC, have signed a technology licensing agreement for Braemar to use NASSCO’s intellectual property in its design and construction of Flat-Panel, Semi-Membrane, Prismatic-Shaped (FSP) LNG containment systems. FSP is a new multipurpose Type B flat-panel, semi-membrane, prismatic-shaped LNG tank-containment system which uses flat plate technology and a universal joint configuration.
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 communications specialist Singtel on October 14, the Summit features thought-provoking presentations from industry leaders representing both the ship owning and ship management sectors. The International Shipowning and Shipmanagement Summit will consider latest industry developments and international concerns, as well as examining relationships within the shipping chain.
BMS Launches New Corporate Website
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.com), linking all the company’s divisions within a single digital presence. The new website boasts increased functionality and content such as improved search functions, an updated media section and in-depth information on Braemar’s services, locations and key contacts.
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…
New Joint Venture Targets Nuclear Industry
International maritime logistics expert Cory Logistics, part of Braemar Shipping Services plc, has formed a joint venture with universal supply chain specialist Navarm Limited to create a single source provider for a full suite of maritime and land based services for the nuclear new build industry. Based in Somerset, U.K., Cory-Navarm will serve the nuclear industry, particularly in the West Country where EDF Energy is developing the Hinkley Point C power station, and other energy-related projects with a need for maritime and land-based services.
Braemar Secures World’s Largest FLNG Project
Braemar Engineering, the marine and LNG technical consultancy arm of the Braemar Shipping Services PLC group, announced it has been appointed as Owner’s Engineers for United LNG, LP in the world’s largest floating LNG production project. The project, situated offshore near Venice, Louisiana in the Gulf of Mexico, will be the world’s largest floating LNG export project, with three floating liquefaction units projected to export up to 24 million metric tons per annum (MTPA) of LNG, commencing in spring 2018.
Braemar Shipping Services Preliminary Results
Braemar Shipping Services plc., an international provider of broking, consultancy, technical and other services to the shipping and energy industries, announced its full year results for the year ending February 28, 2013. James Kidwell, chief executive of Braemar Shipping Services plc, said, “We have reported a robust group performance, in extremely challenging shipping markets, thanks to our progressive diversification into a broad range of maritime services. “This year’s performance shows that the strategy to develop a more broadly-based business has reduced volatility of the Group’s results and the exposure to the shipping cycle.
U.K. Government Ministers to Speak at LISW
The U.K. Government has put its support firmly behind the inaugural London International Shipping Week (LISW) by confirming two of its Ministers as main speakers at the LISW Conference to be held at the Lloyd’s Building on Thursday, September 12. Lord Green of Hurstpierpoint, Minister for Trade and Investment will address delegates on the key issue of London’s role in propelling world trade while the Rt Hon Stephen Hammond, Parliamentary Under Secretary of State for Transport and the Shipping Minister, will give a keynote address emphasizing London’s position at the center of world trade, shipping and maritime services. Confirmed speakers include The Lord Mayor of the City of London…
London International Shipping Week: Speaker Line-up
Shipping industry heavyweights as well as City of London financial services luminaries dominate the line-up so far confirmed. Speakers so far confirmed include The Lord Mayor of the City of London, Alderman Roger Gifford; Koji Sekimizu, Secretary General of the International Maritime Organization; Masamichi Marooka, Chairman of the International Chamber of Shipping (ICS) as well as John Denholm, President of BIMCO. Peter Hinchliffe, Secretary General of the International Chamber of Shipping and the International Shipping Federation, will also speak. Other notable speakers who have so far confirmed their attendance include Grantley Berkeley…
Braemar: Interim Management Statement
Braemar Shipping Services plc, (“Braemar”), an international provider of shipping, marine and energy services, today issues its interim management statement in relation to the period since the announcement of the interim results on 30 October 2012. 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.
Braemar Appoints New Finance Director
Braemar Shipping Services plc (“Braemar” or “the Company”) is pleased to announce the appointment of Martin Beer as Finance Director, with effect from 15th October 2012. James Kidwell, CEO, will hand over his responsibilities as Finance Director on that date. Martin, age 50, previously spent 21 years at Uniq Plc (formerly Unigate plc), where he was Finance Director from 2002. He qualified as an accountant while with PriceWaterhouseCoopers.
Braemar Shipping Appoints New Chief Executive
The board of Braemar Shipping Services PLC (“Braemar”, “the Group” or “the Company”) is pleased to announce the appointment of James Kidwell as Chief Executive with effect from today. James Kidwell, age 50, is Group Finance Director and has worked for Braemar in that role since June 2002. He succeeds Alan Marsh, who will retire as chief executive today and from the board on 31st July 2012. Alan Marsh has, however, agreed to continue to play an active role in the Shipbroking division. In addition, Quentin Soanes, following his appointment as Chairman of the Baltic Exchange, will also retire from the board on 31st July 2012 but will remain responsible for the Group’s Technical, Logistics and Environmental divisions.
Braemar Launches New Salvage Support Operation
Incident response and environmental clean-up specialist Braemar Howells and its sister company Braemar (Incorporating The Salvage Association) are to work together to provide a 24-hour global response capability to the world’s shipping and marine insurance sectors. In what is being seen as a key development in the expansion of Braemar’s Technical Services (BTS) division, both companies have formed Braemar Marine Salvage Support Services which will provide on-site distressed cargo management and salvage support services to salvors…
Braemar Announce Year Financial Results
"This has been a challenging year for shipping with a significant surplus of tonnage in many sectors. While activity remained strong, chartering rates and vessel values suffered and shipbroking income fell as a result. However, the Technical, Logistics and Environmental divisions all performed well.
Braemar: Interim Management Statement
Braemar Shipping Services plc today issues its interim management statement in relation to the period since the announcement of the interim results on 25 October 2011. Over the past few months activity in the Shipbroking division has increased. The Group has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers. The specialised tanker chartering desks are also performing well, having secured long term contract business and good prospects of increasing their transaction volumes in the new financial year, beginning 1 March. Our second hand sale and purchase and demolition business has been more active than in the summer, stimulated by the fall in the value of middle-aged ships in most sectors.