James Gundy, Group Chief Executive Officer of Braemar, commenting on the performance and the outlook said: I am delighted with the performance of Braemar this year where, in such a challenging period, we have not only exceeded market and indeed our own expectations for financial performance, but we have re-aligned many aspects of the business towards our new growth-oriented shipbroking strategy. We have also simplified the business, reduced net debt to manageable levels, improved our management structure and put ourselves in an ideal position to capitalise on the global recovery that is now underway, driving global trade and shipping markets which are showing indicators of future strength as a result. Our trading at the start of the new year has been strong and we are delighted to show our confidence in the business by reinstating a dividend of 5p per share to shareholders.
Wavespec Announces Successful Management Buyout
Wavespec, as the last technical entity within Braemar Shipping Services Plc, is pleased to announce that it is now under new ownership as a private entity.
Wavespec, a leading international provider of technical services, engineering and solutions to the gas processing, liquefied gas, renewable and marine industries, is now operating its United States, United Kingdom, Netherlands, and Singapore based offices under a new umbrella, Wavespec Holding, BV.
Wavespec’s previous owner, Braemar Shipping Services PLC, elected in 2018 to exit its technical services businesses to focus more on their core shipbroking and related activities. At that time, Braemar made the decision to carve out and maintain Wavespec from its Braemar Technical Services Group (BTS). The BTS sale was completed in summer 2019, which then shifted Braemar’s focus on finding the right home for Wavespec.
November 2020: Braemar Naves Corporate Finance and V.Ships Leisure enter partnership agreement
Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, is pleased to announce that its wholly owned subsidiary Braemar Naves Corporate Finance (“BNCF”) and V.Ships Leisure, the world’s leading cruise ship manager, have entered into a co-operation agreement to support cruise and ferry operators, their investors and financiers as they collectively navigate the unprecedented challenges currently facing the passenger ship industry.
With complementary skills and capabilities, the joint team will provide an integrated solution for a range of stakeholders in the industry, including consultancy and advisory services spanning operational & technical topics, HSEQ future-proofing, financial and business plan due diligence and assessments, as well as stakeholder advis