BMS Braemar Plc

 

TIDMBMS 
 
RNS Number : 1097O 
Braemar Shipping Services PLC 
23 June 2010 
 

 
 
                          BRAEMAR SHIPPING SERVICES PLC 
 
                           ("Braemar" or "the Group") 
 
 
                          Interim Management Statement 
 
Braemar Shipping Services plc is today issuing its Interim Management Statement 
covering the first quarter of the financial year beginning 1 March 2010. 
 
At the Braemar Shipping Services plc Annual General Meeting held today, Alan 
Marsh, the Group Chief Executive, provided the following update on the Group's 
trading after the first quarter of the new financial year. 
 
The results for the first quarter are in line with our expectations and ahead of 
the same period last year. 
 
Our shipbroking division has started positively. Market activity and transaction 
volumes have both been pleasing. The dry bulk chartering market performed 
steadily in the first quarter driven by the continuing growth in demand for raw 
materials, particularly from the Far East. Over the same period, tanker market 
rates were mostly strong and we were able to conclude a good level of business. 
Sale and purchase deal flow has been maintained and the forward order book 
remains at a healthy level. The other shipbroking desks have performed well, 
particularly containers and offshore. 
 
Our Technical, Logistics and Environmental divisions have all got off to a good 
start to the year in line with management's expectations. 
 
Overall the Board remains confident of a satisfactory outcome for the year as a 
whole. 
 
                                      Ends 
 
For further information, contact: 
+------------------------------------+------------------------------+ 
|                                    |                              | 
| Braemar Shipping Services plc      |                              | 
+------------------------------------+------------------------------+ 
|      Alan Marsh                    | Tel +44 (0) 20 7535 2650     | 
+------------------------------------+------------------------------+ 
|      James Kidwell                 | Tel +44 (0) 20 7535 2881     | 
|                                    |                              | 
+------------------------------------+------------------------------+ 
| Pelham Bell Pottinger              |                              | 
+------------------------------------+------------------------------+ 
|      Damian Beeley                 | Tel +44 (0) 20 7861 3139     | 
| Zoe Pocock                         | Tel +44 (0) 20 7861 3961     | 
|                                    |                              | 
+------------------------------------+------------------------------+ 
| Elaborate Communications           |                              | 
+------------------------------------+------------------------------+ 
|      Sean Moloney                  | Tel +44 (0) 1296 682356      | 
|                                    |                              | 
+------------------------------------+------------------------------+ 
| Charles Stanley Securities         |                              | 
+------------------------------------+------------------------------+ 
|      Mark Taylor                   | Tel +44 (0) 20 7149 6457     | 
+------------------------------------+------------------------------+ 
 
Notes to Editors 
Braemar Shipping Services plc is a leading international provider of broking, 
consultancy, technical and other services to the shipping, marine and energy 
industries. Braemar is listed on the Official List of the London Stock Exchange 
in the Industrial Transportation sector. The Group is divided into four 
businesses: Shipbroking, Technical, Logistics, and Environmental. 
 
Shipbroking 
Braemar Seascope provides specialised shipbroking and consultancy services to 
international clients. The services include: chartering tankers (including gas, 
chemicals and LNG), dry cargo, containers, offshore vessels, secondhand sale and 
purchase, newbuilding, demolition, and research. It has offices in the UK, 
China, Australia, India, Singapore and Italy. 
www.braemarseascope.com 
 
Technical 
Braemar Steege provides specialist loss adjusting and other expert services to 
the energy (oil and gas), marine, power and other related industrial sectors. It 
operates from offices in London, Houston, Singapore, Calgary, Mexico City, 
Miami, Quito, Puerto Rico and Rio de Janeiro. In 2009 Braemar Marine was 
established as a cargo loss adjusting business in the US, UK and Singapore. 
www.braemarsteege.com 
 
Braemar Falconer provides specialised surveying and engineering services to the 
marine and offshore sectors. It has offices at the following locations: 
Australia, China, India, Indonesia, Malaysia, Singapore, Vietnam and the UK. 
www.braemarfalconer.com 
 
Wavespec provides marine engineering, newbuilding supervision and naval 
architecture services on a consultancy basis to the shipping and offshore 
markets. It has offices in London and Houston and site offices in most of the 
major yards in Korea, Japan and China. 
www.wavespec.com 
 
Logistics 
Cory Brothers Shipping Agency provides port agency, freight forwarding and 
logistics services within the UK and Singapore. 
www.cory.co.uk 
 
Environmental 
Braemar Howells provides pollution response and advisory services, primarily in 
the UK for marine, tank storage and rail operations and is now developing an 
international presence, particularly in Africa. 
www.braemarhowells.com 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSKKNDNKBKDKAB 
 

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