IMS & appointment of non-executive director (2946Z)
January 12 2011 - 2:00AM
UK Regulatory
TIDMBMS
RNS Number : 2946Z
Braemar Shipping Services PLC
12 January 2011
BRAEMAR SHIPPING SERVICES PLC
("Braemar" or "the Group")
12 January 2011
Interim Management Statement and appointment of a director
Braemar Shipping Services plc today issues its Interim
Management Statement in relation to the period since the
announcement of the interim results on 26 October 2010 and
announces the appointment of a new director.
Business Update
In the last two months freight rates and vessel values in the
main wet and dry bulk shipping markets have fallen although the
number of transactions in which the Group is involved continues to
grow.
The Group has a significant number of newbuildings as well as
second hand vessels delivering in the next few months and the
results for the year will depend in part on the timing of these
deliveries.
The Technical, Logistics and Environmental divisions are all
performing in line with expectations.
Appointment of a director
Braemar is pleased to announce the appointment of Alastair
Farley as a non-executive director with immediate effect. Mr.
Farley is a qualified solicitor and was a founding partner of
Watson, Farley & Williams LLP, a firm of international lawyers,
and senior partner from 1982-1999. He remains a senior adviser
there. He was formerly a non-executive director of Close Brothers
Group plc and is a director or adviser to a number of shipping,
construction and investment companies.
Braemar confirms that there are no disclosures to be made in
respect of Mr. Farley, pursuant to paragraph 9.6.13 of the Listing
Rules.
Sir Graham Hearne, Chairman of the Braemar said, "We are
delighted that Alastair is joining the Board. His long experience
of the shipping industry will be invaluable to the company."
For further information, contact:
Braemar Shipping Services Tel +44 (0) 20 7535
Alan Marsh 2650
James Kidwell Tel +44 (0) 20 7535
2881
Pelham Bell Pottinger Tel +44 (0) 20 7861
Damian Beeley 3139
Zoe Pocock Tel +44 (0) 20 7861
3961
Elaborate Communications Tel +44 (0) 1296
Sean Moloney 682356
Arbuthnot Securities Tel +44 (0) 20 7012
Nick Tulloch 2158
Henry Willcocks Tel +44 (0) 20 7012
2106
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. The business is
organised into the following business segments: Shipbroking,
Technical, Logistics and Environmental. It is listed on the
Official List of the London Stock Exchange in the transport
sector.
Principal businesses:
Shipbroking
Braemar Seascope provides chartering, sale and purchase and
consulting shipbroking services to international ship owners and
charterers in the tanker, gas, chemicals, offshore, container and
dry bulk markets. There are shipbroking offices in UK, China,
Australia, Singapore, India, Italy and Monaco.
www.braemarseascope.com
Technical
Braemar's Technical division provides a range of specialist
marine services to the maritime sector and includes:
Braemar Steege provides specialist loss adjusting and other
expert services to the energy (oil and gas), marine, power and
other related industrial sectors. It has offices in London,
Houston, Singapore, Calgary, Lima, Mexico City and Miami.
www.braemarsteege.com
Braemar Falconer provides specialised marine and offshore
services. It has offices at the following locations: Australia,
China, India, Indonesia, Malaysia, Singapore, Vietnam and the
UK.
www.braemarfalconer.com
Wavespec provides consultant marine engineering and naval
architecture services to the shipping and offshore markets. A new
office in Houston was opened in 2009.
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 and Africa and is continuing to
develop an international presence.
www.braemarhowells.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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