Braemar Adjusting Promotes Sam Foster

Braemar Adjusting is delighted to announce the promotion of Sam Foster from Senior Adjuster to Director, effective immediately.

Sam graduated from Loughborough University in 2006 with a Masters in Aeronautical Engineering. Prior to joining Braemar, Sam worked for AMEC as a Mechanical Engineer, where he specialised in rotating and static machinery, working on a range of projects including a Libyan onshore rig modernisation study, a Swiss refinery development and BP’s North Sea Clair Ridge Project. Read more

Braemar Engineering in Tie Up with Nigeria LNG

Braemar Engineering, the specialist maritime engineering consultancy, is delighted to announce that it has been appointed to act as Shipping Consultants to Bonny Gas Transport, the wholly owned subsidiary of Nigeria LNG (NLNG) responsible for the transport of NLNG’s output over the Atlantic to Europe and the Americas.

Braemar Engineering will oversee the building of six LNG carriers, from design to delivery, with completion of the project anticipated at the end of 2016.

Steel cutting on the first of the project’s LNG carriers took place on April 25 at Samsung’s Geoje shipyard in South Korea. Four of the vessels are being built by Samsung and two by Hyundai.

This consultancy project heralds a genuine partnership approach within the field of carrier design, construction and operation. Seven trainees from Nigeria were employed by Braemar Engineering early this year to take part in the programme. Reporting to the new Project Liaison officer, the highly qualified graduates work both in Braemar’s head office and in various site positions developing their specialist knowledge.
Geoff Green, CEO of Braemar Engineering, heading up the initiative says: “The inception of this project began nearly 12 months ago, and we are pleased to now be in a position to make details known to the marketplace. This project is the fusion of Braemar Engineering’s expertise in the LNG sector with Nigeria LNG’s core values of integrity, teamwork, excellence and caring for people, to create a long term partnership offering benefits to both the industry and to the Nigerian community.

“The future of our industry depends on the quality of the people working within it, and we are committed to developing the skills of young talented individuals who will become the next generation of marine engineering specialists,” he concludes.

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The Braemar Houston team will be exhibiting on Booth 8746 at the Offshore Technology Conference in Houston, 5-8 May 2014, and look forward to meeting with journalists to talk more about the development of this important new project.

Braemar Adjusting appoints new Regional Managing Director of the Americas

Braemar Adjusting is delighted to announce the appointment of Pierre Krouse (Pete) as Regional Managing Director of the Americas, with effect from 2 April 2013.

It follows the decision by Chris Dye to leave his current position after more than 13 years with the company and 33 years working as an independent Adjuster. Chris will remain with Braemar Adjusting until 30 April 2013 to ensure a seamless transition of his case load and management responsibilities before commencing his new role as Claims Director for Allianz in Houston.

Welcoming Pete to his new position, Grant Smith, Braemar Adjusting Group Managing Director, said: “Pete has been with the company for 25 years and was one of the original directors of Steege Kingston. While working for the group, Pete graduated from Law School in 1993 and remains a member in good standing of the Texas Bar and of the Maritime Law Association.

“While he has surveyed, investigated and adjusted a wide variety of both onshore and offshore claims throughout that period, Pete is recognised by the energy market as an industry leader in the offshore sector. He has specialised in mobile offshore drilling units, production platforms, pipelines, vessels, ROVs seismic streamers and geophysical exploration equipment.

“Pete’s appointment illustrates we have the right succession planning in place throughout the group and while we are sorry to lose Chris after so many years of valuable service to the company we wish him every success in the future,” Mr Smith said.

These changes coincide with Chuck Madeley ending his secondment to sister company Braemar Casbarian on 1 March 2013, at which time he will resume a full case load and assist Pete in the management of the Houston office.
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Notes to Editors:

• Braemar Adjusting (formally Steege) is recognised as a leading loss adjuster by the Energy Power and Mining insurance markets worldwide.

• The company has the required expertise and experience to handle both onshore and offshore, upstream and downstream operational and construction losses.

• Braemar Adjusting specialises in the adjustment of insurance claims involving offshore platforms and production vessels, subsea infrastructure, onshore and offshore drilling units, control of well, refineries, petrochemical plants, gas plants, power (including renewables), mining, major infrastructure claims, together with associated business interruption losses.

• Braemar Adjusting is part of the Braemar Technical Services division of Braemar Shipping Services plc.

For Further Information Please Contact:
Elaborate Communications: Sean Moloney Tel: +44 (0) 1296 682356

John Harris Appointed Managing Director Of Braemar Technical Services (Adjusting) Pte Ltd

Quentin Soanes, Chairman of Braemar Technical Services (BTS), is pleased to announce the appointment of John Harris as Managing Director of Braemar Technical Services (Adjusting) Pte. Ltd. (Braemar Adjusting – Singapore), effective from 4 July 2012.

A qualified Chartered Quantity Surveyor and Arbitrator, John joined Braemar Adjusting in Singapore in 2001 where he utilised his core construction experience to handle property, construction and consequential loss claims throughout Asia. Following a three year secondment to the Group’s London office, John returned to Singapore in 2007 as Director and is heavily involved in losses across the Region, with a focus on construction claims.

John has been actively involved in the Adjusting Group’s expansion within Asia and sees this as an exciting opportunity to lead an established and experienced adjusting team forward.

BTS also announce that Roger Law will be leaving the Company at the end of 2012. Braemar Adjusting has benefitted from Roger Law’s experience and leadership since joining the Company in 1994 and we thank Roger for his service to the Company and wish him success for the future.
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Notes To Editors:
• Braemar Technical Services (BTS) is part of Braemar Shipping Services Plc.
• Braemar Adjusting provides loss adjusting services in the global energy insurance market and is a leading provider of expert witness services.

Braemar Shipping Services plc: Changes to the Executive Board of Directors of the Company and Interim Management Statement

Changes to the Executive Board
The board of Braemar Shipping Services PLC (“Braemar”, “the Group” or “the Company”) is pleased to announce the appointment of James Kidwell as Chief Executive with effect from today. James Kidwell, age 50, is Group Finance Director and has worked for Braemar in that role since June 2002.

He succeeds Alan Marsh, who will retire as chief executive today and from the board on 31st July 2012. Alan Marsh has, however, agreed to continue to play an active role in the Shipbroking division. In addition, Quentin Soanes, following his appointment as Chairman of the Baltic Exchange, will also retire from the board on 31st July 2012 but will remain responsible for the Group’s Technical, Logistics and Environmental divisions.

Denis Petropoulos continues as group regional director – Singapore, and executive director of Braemar Shipping Services PLC. He is based in Singapore and is also responsible for Braemar’s development and marketing initiatives in the East.

Sebastian Davenport-Thomas becomes managing director of the Shipbroking division, having been head of its sale and purchase department for the past five years.

The Group will appoint a new finance director in due course and in the meantime James Kidwell will retain these responsibilities in addition to his new role.

The Chairman of Braemar, Sir Graham Hearne said: “Alan has led Braemar, as a public company, for 11 years with great distinction and has been a significant force in taking the Group to where it is today. We are indebted to him for his enormous contribution and I am delighted that he will still be actively involved in our Shipbroking division.”

“Quentin will also take this opportunity to retire from the board after more than 30 years service with Braemar. He has been highly instrumental in the development of the marine and energy services businesses in the Group which will continue to be his primary responsibility. We would like to wish him every success in his role as Chairman of the Baltic Exchange.”

“Braemar is doing well in very challenging markets and in James Kidwell we have appointed a top class executive who has over the years developed a deep understanding of all aspects of the business. I have no doubt James will bring the leadership and expertise to maintain our success and manage the next phase of Braemar’s growth.”

Braemar’s outgoing chief executive, Alan Marsh, said: “It is with some sadness that I have decided, as I approach my 63rd birthday, that this is the time to retire from a role that I have much enjoyed. I am confident that James will be an outstanding successor, and I look forward to continuing to contribute to the Group’s success.”

The company’s new chief executive, James Kidwell, added: “I am looking forward to the challenge of building on the Group’s positive momentum. Braemar is a dynamic business, and we have a strong team of people who together offer great potential for the future.”

Interim Management Statement

This Interim Management Statement covers the first quarter of the financial year beginning 1 March 2012.

Tanker chartering and dry bulk freight rates have been relatively weak because of the imbalance in tonnage supply in most markets. However, our transaction volumes have continued to grow steadily and there are some areas – in particular in specialised tankers – where we have developed significant new business. Our offices in Australia and India, which are predominantly dry bulk, have also made a bright start to the year.

The second-hand sale and purchase market has seen higher activity in recent months. After a period of greater price stability there has been more serious buying interest especially from the more traditional family shipowning companies.

The Technical division has made a strong start particularly Braemar Offshore, our surveying and engineering business in the Far East. Braemar Engineering has won some good LNG supervision business which will improve its performance in the second half and Braemar Casbarian is seeing more activity in its prime market – the Gulf of Mexico.

The Logistics division is performing well with both UK and Singapore ship agency business gaining ground.

The Environmental division has had a strong first quarter continuing in the same vein as the final quarter of last year with its clear-up work on the MV RENA off the coast of New Zealand which commenced in October 2011. Activity on the project is likely to slow in the second half as the wreck removal gets underway.

Overall the performance of the Group is in line with the board’s expectations.

ENDS

For further information, contact:
Braemar Shipping Services
Alan Marsh Tel +44 (0) 20 7535 2650
James Kidwell Tel +44 (0) 20 7535 2881

Pelham Bell Pottinger
Damian Beeley
Zoe Pocock Tel +44 (0) 20 7861 3139
Tel +44 (0) 20 7861 3961

Elaborate Communications
Sean Moloney Tel +44 (0) 1296 682356

Westhouse Securities

Dermot McKechnie Tel +44 (0) 20 7601 6115
Henry Willcocks Tel +44 (0) 20 7367 9052

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 segments: Shipbroking, Technical, Logistics and Environmental. It is listed on the Official List of the London Stock Exchange in the Industrial Transport sector.

Principal businesses:

Shipbroking
Braemar Seascope provides chartering, sale and purchase and consulting shipbroking services to international ship owners, charterers and financial institutions operating in the tanker, gas, chemicals, offshore, container and dry bulk markets. There are shipbroking offices in the 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. The business operates under the brand name Braemar Technical Services and the activities of the division are as follows:

– Braemar Adjusting 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, and Rio de Janeiro.

– Braemar Offshore provides specialised marine and offshore services mainly performing pre-risk marine warranty surveys. It has offices in the UK, Australia, China, India, Indonesia, Malaysia, Singapore and Vietnam.

– Braemar incorporating The Salvage Association (“Braemar SA”) provides marine consultancy and surveying services to the shipping, energy, offshore and insurance industries. The Salvage Association was acquired on 9 May 2011 and it has a network of offices in Asia, Europe and the US that undertake marine damage surveys for the insurance industry.

– Braemar Engineering provides consultant marine engineering and naval architecture services to the shipping and offshore markets from offices throughout the Far East and London. Braemar Engineering was expanded with the acquisition of Braemar Casbarian in July 2011 which provides consulting engineering services mainly to the offshore industry in the Gulf of Mexico from offices in New Orleans, Houston and Trinidad.

www.braemar.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. It has earned an international reputation for its work for the insurance industry in handling the containers from stricken vessels – the MSC Napoli in 2007 and the RENA which is on-going in New Zealand.
www.braemarhowells.com