According to London-listed shipbroker Braemar Shipping Services, China’s escalating importation of petcoke augments the prospects for smaller bulk carriers. London-based shipbroking and services firm Braemar Shipping Services underscores that China’s import figures have surged, nearly doubling within the last three years. This burgeoning desire for imported petroleum coke (petcoke) has revitalized the niche of smaller bulker dimensions, articulated by Braemar Shipping Services. London-listed shipbroker Braemar Shipping Services accentuates that China and India have emerged as the paramount drivers of petcoke demand during 2022-2023. Braemar has delineated petcoke as a boon for the supramax and ultramax bulk carrier segment, especially post the downturn of late 2020. 21-August-2023
London-listed shipbroker Braemar Shipping Services Chairman, Nigel Payne, vehemently criticizes unregulated proxy establishments subsequent to another director being singled out during the Annual General Meeting (AGM). Nigel Payne expresses profound gratitude as Joanne Lake, along with auditor BDO, garners the endorsement of a predominant share of stakeholders. Nigel Payne, London-listed shipbroker Braemar Shipping Services’ esteemed chairman, has vociferously voiced his reservations concerning the so-called “unregulated” proxy shareholder advisory entities in the wake of the recent Annual General Meeting (AGM). While all resolutions proposed by the prominent London-based shipbroker Braemar Shipping Services were ratified, there was an unusually elevated dissent towards Director Joanne Lake. Additionally, the pervasive discontent towards auditor BDO persisted, especially following the firm’s failure to meet the annual results timeframe for a consecutive year. 17-August-2023
According to London-listed shipbroker Braemar Shipping Services, the capesize bulker market has been adversely affected by a decrease in long-haul coal shipments to Asia. Indonesia has emerged as Vietnam’s primary source of this commodity. London-listed shipbroker Braemar Shipping Services’ recent report reveals that over the past two months, there has been a decline in coal shipments to Asia, impacting the capesize bulk carrier market significantly. As of now, capesize bulk carriers have transported 46% of Vietnam’s coal imports in 2023. However, in May, Indonesia surpassed Australia as Vietnam’s leading supplier of coal. Although this percentage tripled from 15% in the H1 2020, causing a decline in geared bulk carriers, the capesize bulk carrier sector was still negatively affected because Indonesia is geographically closer to Vietnam compared to Australia. 21-June-2023
London-based shipbroking and services firm Braemar Shipping Services has emerged as the most recent broker to unveil a digital platform aimed at offsetting emissions from vessels and cargo. Braemar Offset has partnered with Zuma Labs to provide carbon offsets, which can be directly transacted on Braemar Screen. This platform specializes in trading dry bulk forward freight agreements (FFAs). According to giant shipbroking and services firm Braemar Shipping’s statement, carbon offsets contribute to revenue growth by capitalizing on the premiums associated with more sustainable services. This is similar to the additional value that environmentally friendly vessels command in the charter market today. Tris Simmonds, the Chief Operating Officer of Braemar Shipping Services, remarked that shareholders, financiers, and customers now frequently connect ESG (Environmental, Social, and Governance) factors with a company’s long-term sustainability. Shipping companies that lag behind in this domain increasingly face challenges in securing capital, attracting and retaining staff, and managing the growing burden of regulations. Braemar Offset represents the initial phase of our comprehensive sustainability solution tailored to our clients’ specific needs. We have already integrated it with Braemar Screen, and we eagerly anticipate announcing further enhancements to our sustainability offerings in the near future. Jack Richards, an associate director at Braemar Shipping Services, emphasized that clauses requiring the collection of emissions data are already being observed in charter agreements. The next logical progression would be the inclusion of clauses stipulating that a voyage must be carbon-neutral. 30-June-2022
London-listed shipbroker Braemar Shipping Services has successfully concluded the planned divestiture of its logistics enterprise, Cory Brothers (Cory), to Vertom Cory Holdings. Vertom Cory Holdings is a newly established subsidiary of Dutch company Vertom, which operates primarily in northern Europe. This move is seen as part of the London-listed shipbroker Braemar Shipping Services’ endeavor to streamline its operations and concentrate on a novel growth strategy centered around shipbroking. The payment for the transaction will be entirely in cash, comprising an initial amount of £6.5 million, as well as three subsequent payments based on a percentage of the gross profit generated by the newly formed Vertom-Cory enterprise during the earnout period until December 31, 2024. The total value of the three earnout payments will range between £3.75 million and £9 million. Braemar Shipping Services has announced that the proceeds from the sale will be utilized to reduce net debt and fortify the balance sheet in accordance with its strategic plan. Cory encompasses a port and hub agency business, along with a liner and freight forwarding business. Cory serves ports in the United Kingdom, Singapore, North America, and the Netherlands, while also having collaborative agreements with multiple agency partners. The divestiture has been structured as the sale of all shares in three distinct legal entities within the group: Cory Brothers Shipping Agency Limited, Cory Brothers Inc., and Cory Brothers Shipping Agencies Pte Limited. Following the divestiture, relevant Cory employees, including Cory’s managing director, Peter Wilson, and finance director, David Noble, will transition to similar positions within the newly established Vertom-Cory enterprise. 27-February-2022
Braemar ACM appointed Nigel Payne, the former CEO of British online gambling operator Sportingbet, as the new non-executive chairman. On May 1, Nigel Payne will take over from Ron Series at the esteemed UK shipbrokering firm.
Expressing his views on the matter, Nigel Payne stated, “I believe there are significant growth opportunities for the Braemar ACM’s specialized and invaluable services. I eagerly anticipate collaborating with the board and management team to assist Braemar ACM in focusing and delivering on this exhilarating new strategy, which will benefit all stakeholders of the organization.” Currently, Nigel Payne holds the position of non-executive chairman at Gateley and serves as a non-executive director at GetBusy. Additionally, Nigel Payne will preside over Braemar ACM’s nomination committee. James Gundy, Braemar’s CEO, warmly welcomed Nigel Payne to the board. 5-April-2021
London-listed shipbroker Braemar Shipping Services will launch a trading screen for dry Forward Freight Agreements (FFAs) at the beginning of April 2021. Braemarscreen.com is going to be used to give market price data. Currently, Braemar Shipping Services’ dry Forward Freight Agreements (FFAs) are used by an average of 400 users per day. Braemar Shipping Services has been working with European clearing house EEX to secure straight-through processing for dry Forward Freight Agreements (FFAs). Forward Freight Agreements (FFAs) slowly shifted from telephone trades to apps and computer screens. Braemar Shipping Services provides a hybrid platform for dry Forward Freight Agreements (FFAs). In 2018, Braemar Shipping Services moved into the dry Forward Freight Agreements (FFAs) with the acquisition of Atlantic Brokers and the recruitment of a dry cargo Forward Freight Agreement (FFA) team. Furthermore, Braemar Shipping Services’ dry Forward Freight Agreements (FFA) provides a transparent transaction in the market. 30-March-2021
London-based shipbroking and services firm Braemar Shipping Services has announced the appointment of James Gundy as the new group CEO (chief executive officer), effective from January 1, 2021. James Gundy, who has been serving as the CEO of Braemar’s shipbroking division, the company’s largest operation, since joining in 2014 after the merger with ACM Shipping Group, will now assume the role of group chief executive officer. With 35 years of experience as a shipbroker specializing in tankers and sale and purchase projects, James Gundy previously held the position of CEO at ACM Shipping Group. While undertaking his new CEO (chief executive officer) responsibilities, James Gundy will also continue to lead the shipbroking division. London-based shipbroking and services firm Braemar Shipping Services stated that this appointment will facilitate the continued development of the Braemar Shipping Services’ strategic direction, with shipbroking positioned at the core of the company’s activities. Expressing his delight on behalf of the board and Braemar as a whole, Ronald Series, the executive chairman of Braemar, stated, “I am pleased to announce James Gundy’ appointment as group chief executive. James Gundy exceptional efforts in integrating Braemar and ACM shipbroking businesses since the merger in 2014 have been commendable. We eagerly anticipate working closely with him as we further expand the Braemar Shipping Services business.” 10-November-2020
London-listed shipbroker Braemar Shipping Services is anticipating an improvement in S&P (Sale and Purchase) activity as opportunities emerge after the coronavirus recession. Braemar Shipping Services’ S&P (Sale and Purchase) had observed a decrease in S&P (Sale and Purchase) activity levels during the pandemic. According to Braemar Shipping Services, the coronavirus pandemic has complicated S&P (Sale and Purchase) activity due to travel restrictions of surveyors, shipowners, and ship-managers. On the other hand, London-listed shipbroker Braemar Shipping Services’ corporate finance business, Braemar Naves has been busier and has been obtaining new fees in March 2020. Braemar Shipping Services’ corporate finance business Braemar Naves’ market share increased out of the distressed ship-financing market following the financial crash in 2008. Braemar Shipping Services elected to drop its dividend payment for 2020. Braemar Shipping Services has been keeping liquidity and bonds under vigilant oversight. Braemar Shipping Services assumes that the company has sufficient liquidity and covenant headroom. Braemar Shipping Services maintain adequate liquidity to operate efficiently. Braemar Shipping Services’ shipbroking division achieved a strong performance. Braemar Shipping Services anticipates that the world trade gradually recovers over the next quarter after the post-coronavirus recession. Braemar Shipping Services remains positive about the outlook for the shipping market. According to Braemar Shipping Services, the dry cargo market has started to improve and is anticipated to improve as Chinese imports increase. Braemar Shipping Services’ logistics division, Cory Brothers has seen a moderately healthy start to 2020 in its agency business. Braemar Shipping Services has plans to open new offices in Athens and Geneva. 21-April-2020
London-listed shipbroker Braemar Shipping Services has been missing the comfort of communication and collaboration across office desks. Generally, Braemar Shipping Services operates with all its teams on one floor for communications between shipbrokers. However, since early March 2020, shipbrokers have been based at home. Braemar Shipping Services’ S&P (Sale and Purchase) and newbuilding teams are finding it hard to work from home. 18-April-2020
London-listed shipbroker Braemar Shipping Services warns that world trade has been slowing due to coronavirus outbreak. Braemar Shipping Services presumes profits to be affected by the coronavirus outbreak. Braemar Shipping Services predicted that shipping markets have seen notable reductions in charter rates since the start of 2020, especially for the VLCC and capesize bulk carriers, due to diminished import of China. Because of the coronavirus outbreak, estimations for financial growth and world trade are broadly anticipated to decline. According to London-listed shipbroker Braemar Shipping Services, the health of all the company’s personnel and stakeholders is of predominant concern. Braemar Shipping Services has been watching the circumstances closely. The coronavirus outbreak is not stopping the expansion strategies of Braemar Shipping Services. Braemar Shipping Services plans to open new offices in Athens and Geneva. Braemar Shipping Services’ Athens office is going to concentrate on S&P (Sale and Purchase) market. Braemar Shipping Services’ Swiss office is going to concentrate on dry bulk brokerage services. Currently, the shipping market outlook is uncertain due to the coronavirus. Braemar Shipping Services’ logistics unit has reported financial results in line with 2019. Braemar Shipping Services aims to expand the company, including possible acquisitions. 6-March-2020
London-listed shipbroker Braemar Shipping Services attempts to maximize its shipbroking services. Braemar Shipping Services sold Technical Services Division sold to Aqualis. Furthermore, Braemar Shipping Services appointed new chairman Ronald Series. Braemar Shipping Services plans a three-year strategy for the company. Braemar Shipping Services anticipates growth through acquisitions. Braemar Shipping Services want to be a one-stop-shop for maritime services. Braemar Shipping Services’ shipbroking division Braemar ACM is led by James Gundy. According to Braemar Shipping Services’ shipbroking division Braemar ACM, financing in new businesses and expanding present markets is the appropriate method to proceed. Braemar Shipping Services invested in the LNG business which is performing strong. Braemar Shipping Services’ financial department is increasingly vital to the business and transactions have emerged from the finance side. In Q2 2019, Braemar Shipping Services has reduced the loss to $2.69 million. Braemar Shipping Services reported a strong performance from shipbroking services in Q2 2109. Braemar Shipping Services look forward to Q3 and Q4 with determination Full financial year of 2019 remains in line with Braemar Shipping Services’ expectations. In Q2 2019, Braemar Shipping Services’ tanker and newbuilding desks had a strong period of revenue increase. According to Braemar Shipping Services, the shipping market is currently subject to volatility due to IMO (International Maritime Organization) bunker regulations and shifting trading models. 20-October-2019
Braemar Shipping Services CEO James Kidwell is retiring after 17 years at the London-based shipbroker company. Chairman Ron Series will become executive chairman on an interim basis. Braemar Shipping Services’ CEO James Kidwell has performed a notable role in the growth of the Braemar Shipping Services. Under his management, Braemar Shipping Services completed the merger with ACM, acquired Naves. Furthermore, Braemar Shipping Services established technical division AqualisBraemar with Aqualis. Braemar Shipping Services CEO James Kidwell concludes that it is now the right time to step down. 16-July-2019
Offshore consultancy firm Aqualis and London-based shipbroking and services firm Braemar Shipping Services have reached an accord wherein Aqualis will acquire Braemar Shipping Services’ adjusting, marine, and offshore business divisions, encompassing the majority of Braemar Technical Services. The amalgamated entity shall bear the name AqualisBraemar, with Braemar Shipping Services emerging as the principal stakeholder, possessing 26% ownership, which may potentially increase to 33% contingent upon business performance. AqualisBraemar will comprise four primary business segments: Adjusting, Marine, Offshore, and Renewables. The esteemed CEO David Wells, hailing from Aqualis, shall spearhead the organization, with its headquarters situated in London. By offering joint and enhanced expertise, AqualisBraemar shall be better equipped to facilitate the clients’ growth. Completion of the transaction is anticipated by the conclusion of June. 13-May-2019