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Sunday, January 21, 2018

Ship Broking News

Hong Kong to Host Global Maritime Forum Inaugural Annual Summit

Photo: Global Maritime Forum

Hong Kong is chosen to host the Global Maritime Forum’s inaugural Annual Summit on 3-4 October 2018. The high-level meeting will convene key industry leaders with policymakers, experts, NGOs and other influential decision-makers and opinion shapers. Their task will be to share their ideas on the challenges facing the maritime industry and to develop practical proposals to optimise global seaborne trade, thereby increasing sustainable long term economic development and human wellbeing. “We look forward to welcoming the world’s maritime decision-makers to Hong Kong.

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create one of the sector's biggest players globally. The deal would be the latest in an industry which has suffered one of its worst-ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009, just as the global economy started to slow, creating a glut. Prospects have brightened recently as world trade picks up and the glut of ships is absorbed, but recovery remains fragile. In the meantime, many ship brokers view larger operations with global teams as the best way to position for a full market revival.

OceanConnect, Clarksons Join Forces

Online marine fuel supplier OceanConnect on Wednesday signed a strategic alliance with ship broking group Horace Clarkson Plc. Clarksons, the world's biggest shipbroking group will also become an equity partner in OceanConnect. In the last month OceanConnect has announced partnerships with shipping companies Eletson Corporation, Keystone Shipping Co and Stena Bulk AB plus Japan's Nippon Mitsubishi Oil Company and energy information provider Petroleum Argus. Scheduled to begin operations in late spring, OceanConnect said it aims to provide a fast and price-efficient marketplace for marine fuel transactions plus real-time information on pricing and product availability.

Braemar Acquires LPG Connect

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)

Fredriksen forms ship broker with Arctic Securities

Norwegian-born billionaire John Fredriksen has teamed up with investment bank Arctic Securities to form a ship broking company aimed at taking on bigger rivals and betting on a recovery in the global shipping market. Many segments of the shipping industry, including dry bulk commodities, are struggling with tougher conditions due to world economic worries and a surfeit of vessels. Fredriksen, via his family's investment company Geveran Trading Co, and Oslo-headquartered Arctic Securities said on Monday they had established a 50-50 joint venture broking company, Arctic Shipping Norway, which they expect to start operations in the first half of this year. "I am truly convinced that both the shipping and the offshore markets will recover.

Braemar Opens Crude and Products Ship Broking Operation

Denis Petropoulos

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.  

Bramear Seascope Opens Oslo Office

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.

Braemer Shipping Interim Management Statement

“Shipping markets have experienced a significant correction over the past four months and in varying degrees dry and wet freight rates and vessel values are sharply lower, mainly in response to the slowing global economic demand and the significant contraction in the availability of bank lending. However, within our Shipbroking division chartering has remained active and to date there have been no significant cancellations within our forward order book. Our Technical Services businesses have maintained the high activity levels experienced in the first half and the Logistics and Environmental businesses are continuing to perform steadily. The Board is confident about the out-turn for the current financial year.

Falling Oil Prices Help Boost Braemar Revenues

Image: Braemar Shipping

Braemar Shipping Services said its ship broking division saw an improvement in its performance during the last quarter. The merger in July with smaller rival ACM Shipping also came in as shot in the arm. A strong dollar and weak oil prices are good for business, too, and freight rates, a key driver of revenue, are up in a number of sectors. In an interim management statement the company says that as anticipated, its ship broking division's performance has improved significantly compared with the first half…

Braemar to Buy Shipbroker peer ACM; M&A Activity Heats Up

Braemar chief executive James Kidwell.

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…

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.

Braemar Completes Merger with ACM Shipping

Image

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 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.

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 Announcement - Tony Pegum

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…

LevelSeas Buys SeaLogistics

London-based e-shipbroker LevelSeas has acquired main competitor Houston-based SeaLogistics during a week that has seen swift consolidation in the shipping e-commerce sector. LevelSeas was founded by Shell, Cargill, and London shipbroker Clarksons in April 2000, to broker ships for cargoes over the Internet. It has always been seen by the shipping industry as the lead contender, closely followed by SeaLogistics. "LevelSeas will exchange equity for the primary assets of SeaLogistics," it said a statement. The deal with SeaLogistics will strengthen LevelSeas' position in the tanker markets especially, it said. LevelSeas' core business is e-broking, but the platform also offers voyage-management and risk management tools. Freight futures trading will also be offered.

Seascope CEO Quits

British shipbroking group Seascope Shipping Holdings Plc said its chief executive Duncan Hill resigned, effective immediately. Non-executive chairman Tom Young will step in as acting chief executive until a successor is appointed. The company said Hill had decided to further his career outside the shipbroking industry.

StrategicIMX Completes Shipbroking Desktop Integration

Strategic Software has announced that StrategicIMX can now integrate all users of existing Strategic and Dataworks shipbroking software over the internet. A number of companies are already benefiting from IMX. US-based McQuilling Brokerage and Charles R. Weber are among the tanker brokers utilising the fully functional TankerIMX, a version specifically designed to cater for the tanker industry. E-Jan/DryBulkIMX, the IMX software for companies involved in dry bulk ocean transportation, is being used by NYK Line, Japanese shipbroker Yamamizu and other Japanese, European and US shipbrokers and shipowners.

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.

Government Aims to Develop, Upgrade, Cyprus Shipping

The government continuously improves incentives for shipowners to register their ships under the Cyprus flag. Communication & Works Minister Flourentzou pointed out Cyprus ranks among the largest international ship registries in the world, but unlike other open registries, he added, Cyprus is also a major base for international shipping operations and for other activities related to shipping. The Minister noted that “a maritime cluster has been developed, a large part of which was established with foreign investment. The nucleus of this cluster comprises ship owning and ship management companies which own or manage more than 2000 ships of 30 million gross tonnage which amount to more than 5 percent of the world’s merchant fleet.

Seascope Diversifies From Shipping Base

British shipbroking group Seascope Shipping Holdings Plc plans to diversify further beyond its core business despite expecting better shipping markets this year. The company wants to keep broadening its income base, managing director Duncan Hill said, despite forecasting improved shipping earnings in 2000. On Thursday the company reported pre-tax profits of 2 million pounds for 1999, down from 3.2 million in 1998, after OPEC oil cuts hit tanker and offshore markets last year. "I would be hugely disappointed if we are not able to announce another significant acquisition which further diversifies our income base this year," Hill said. Hill declined to give details, but signaled that the acquisition would not be related to online broking ventures being set up by some other brokers.

Hong Kong and UK Strengthen Maritime Ties

Left: Chan Fan, Frank, JP, Secretary for Transport & Housing, Hong Kong Government; right: Maritime London Chairman,  Lord Mountevans ; back: UK Minister of State for Transport Legislation and Maritime, John Hayes, CBE, MP. (Photo: Maritime London)

Representatives of the British and Hong Kong maritime business sectors have agreed to forge a closer working relationship. Under the terms of a new Memorandum of Understanding, Maritime London and the Hong Kong Maritime & Port Board (HKMPB) will cooperate in a range of areas including promotional activity, training and sharing of best practice for maritime business services. The agreement was signed in London during London International Shipping Week by Chan Fan, Frank, JP, Secretary for Transport & Housing…

London to Host International Shipping Week 2013

Maritime industry leaders from across the globe are expected to gather for a week of meetings and events in the capital. Welcoming the new initiative, Maritime London's chief executive, Doug Barrow, said that London International Shipping Week was the right vehicle to underline London’s role in maritime services and to promote London’s position as a maritime leader. “It is an opportunity for great networking with representatives across all maritime sectors,” he said. London International Shipping Week – Propelling World Trade will run from of September 9 to 13, and is organised by Shipping Innovation – a joint venture between Elaborate Communications and Petrospot – in association with Maritime UK partners…

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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