James Kidwell News

Offshore engineering consultant Aqualis has completed the acquisition of the London-based Braemar Shipping Services' offshore, adjusting and marine consultancy business Braemar Technical Services (BTS).The new company, called AqualisBraemar, said it will benefit from access to new capabilities, a broader suite of services, a bigger workforce and increased geographical footprint. “I have looked forward to this day. Combining our companies gives us greater critical mass within the marine and energy markets and means we will be much better positioned going forward. With our larger scale, more resources and our talented people, we will improve our ability to meet our clients’ needs globally…

Braemar Shipping Services announced that its Chairman, David Moorhouse, plans to retire from December 31, after nearly 14 years as a Non-Executive Director, the last three as Chairman. Moorhouse said he is willing to serve longer, if required, to facilitate the appointment of a suitable replacement. His retirement is part of a planned reduction in his business workload to facilitate his participation in another venture.The company’s Nominations Committee is leading the process to appoint a new non-executive Chairman and an announcement will be made in due course.Moorhouse commented…

Braemar Shipping Services announced the successful delivery of the 180,000m3 Liquid Natural Gas Carrier (LNGC) called “LNG Schneeweisschen” from Daewoo Shipbuilding & Marine Engineering (DSME), South Korea, as part of the ongoing LNGC newbuilding project between Uniper Global Commodities SE (Uniper) and Braemar.The international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries said that the vessel has been built for Japan based owners, MOL, and may be provided to Uniper under a 20 year transportation agreement.Braemar has worked as the commercial (Braemar ACM) and technical (the engineering business within Braemar Technical Services) consultant for Uniper throughout this project…

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 for the Acquisition is €24.00 million (subject to a customary adjustment based on target working capital) rising to a maximum of €35.00 million should earn-out payment terms and conditions be satisfied. Acquisition terms structured to incentivise long term profit growth in NAVES.

Braemar Shipping Services Group PLC is pleased to announce that Sheila McClain, Executive Vice President of Braemar Engineering, has been appointed Braemar Engineering's new Managing Director. Sheila will continue to be based in Houston, Texas and will assume management responsibility for global operations with effect from 8 June 2016. In conjunction with her management team, Sheila will continue to develop and promote Braemar Engineering’s expertise specialising in marine, offshore and land-based LNG projects, dynamic positioning and engineering consultancy. Geoff Green, who has held the title of Managing Director for the past 15 years…

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. The combined enlarged group is moving, as previously announced, to a new head office at One Strand, Trafalgar Square, London on 2 February 2015.

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 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…

Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking, said on Tuesday it had agreed to acquire the entire share capital of ACM. "What this transaction is about is growing our shipbroking presence collectively," said Braemar chief executive James Kidwell. Ship owners ordered large numbers of vessels between 2007 and 2009 just as the global economy sank into crisis…

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.

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.

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.