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Have a look at the yearly charts and that may help to answer your question.
Shipping shares are supposed to outperform as the world economy improves so why has BMS plunged 14.7% over the past 10 days? I hope the recovery's not over already!
In line now?
Out of line now?
MAKE MONEY FROM BRITAIN'S SUMMER IN THE SPOTLIGHT Alex Wright, UK Smaller Companies fund manager picked Braemar Shipping Services, which has the rights to a number of cruise ship berths in the Thames – and will benefit from cruise liners wanting to moor up in London during the Olympics. Source: http://www.investments.co.uk/news/2012/jul/make-money-from-britains-summe-in-the-spotlight.html Westhouse Securities reiterates its BUY recommendation for Braemar with a target price of 390p. P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=256596 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
"The principal forces working to re-balance the fleet are the continuing growth in demand from Asia for energy and raw materials and the scrapping of older ships. However, the pace of correction is difficult to assess because of the uncertain macroeconomic picture. In this environment shipbroking activity is likely to remain high but with continuing pressure on margins," the group said in a statement. "Braemar is well-equipped to trade in the competitive and challenging markets," Hearne added.
Revenues from the Technical, Logistics and Environmental divisions climbed £19.2m to £83.7m and now represent 63% of total group revenues, up from 51% in 2011. Looking ahead Braemar said the shipping markets are likely to feel the effects of the tonnage surplus for a few years to come.
Basic EPS fell to 33.84p from 48.41p while cash at 29 February 2012 declined to £17.5m from £25.6m before. The group maintained its final dividend of 17p per share, giving a full year payment of 26p. Commenting on the results and outlook chairman Graham Hearne said, "This has been a challenging year for shipping with a significant surplus of tonnage in many sectors. While activity remained strong, chartering rates and vessel values suffered and shipbroking income fell as a result. However, the Technical, Logistics and Environmental divisions all performed well.
Braemar Shipping Services said it had been a challenging year, with significant surplus of tonnage in many sectors, as it reported an increase in revenue and maintained its dividend. Revenue for the year ended 29 February 2012 rose to £133.5m, in line with market forecasts, and compared to £126.1m in 2011. Pre-tax profit fell to £9.8m in the year from £13.2m a year earlier. Analysts had expected pre-tax profit of £11m for the year.
Hey mulledwine, looks like the share price has backed up that statement. Long may it continue :)
CONT The Environmental division, which specialises in dealing with oil, chemical and marine pollution incidents, has been engaged in the salvage, processing and cleaning of the containers from the vessel "Rena" which ran aground off New Zealand in October 2011. The salvage work will continue well into 2012. The Braemar team is made up of personnel from the Environmental and Technical divisions who fulfilled a similar role in respect of the "MSC Napoli" off the coast of Devon in 2007. All of the Group's divisions have been busy over the past three months with the overall performance of the group showing an improvement compared with the earlier quarters of this financial year.
Interim Management Statement Braemar Shipping Services plc today issues its interim management statement in relation to the period since the announcement of the interim results on 25 October 2011. Over the past few months activity in the Shipbroking division has increased. The Group has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers. The specialised tanker chartering desks are also performing well, having secured long term contract business and good prospects of increasing their transaction volumes in the new financial year, beginning 1 March. Our second hand sale and purchase and demolition business has been more active than in the summer, stimulated by the fall in the value of middle-aged ships in most sectors. Overall Braemar's markets are entering a new phase where principals are adjusting their operations to fit market conditions, and this greater certainty should be positive. The Company is making good progress in bringing its technical businesses together as a single unit, trading as Braemar Technical Services. There are already clear signs of much closer interaction within the division and when full integration is achieved, the engineering and surveying teams will be deployed more efficiently. Braemar's marketing capability in the Far East, Europe and North America will thereby be enhanced. In recent months, the Company has won several important new engineering projects and the level of surveying appointments has also been encouraging. The Logistics division has been performing well. Ship agency is making substantial inroads in the highly-competitive UK market and continues to grow in Singapore. The freight and project forwarding arm is continuing to expand its customer base and is delivering improved results. The cruise ship agency and tours business had a reasonable summer in 2011 and bookings for 2012 have been strong on the back of the London Olympics.
http://www.investegate.co.uk/Article.aspx?id=201201120700134062V
Perhaps I spoke too soon
Just been a couple of days in this but it looks quietly promising, nothing extravagant but coupled with a nice dividend....
Arbuthnot Securities maintained its "neutral" recommendation for Braemar Shipping Services (BMS), but with a reduced target price of 320p, from 340p. The maritime services company is expected to issue an annual dividend of 26p, offering an attractive yield of 7.7%, but the broker notes concern over cyclical difficulties in the industry that are likely to impact the firm in the near term. As a result the broker forecasts a 31% year-on-year decline in pre-tax profits for the 2012 financial year. Braemar shares stayed flat at 339.5p.
http://www.investegate.co.uk/Article.aspx?id=201110250700177480Q
u4987 - Aprreciate your insight - thanks
Charles Stanley downgrades Braemar Shipping from add to hold, target price cut from 535p to 363p.
They have some excellent niche businesses where the competitive position looks good and the long term growth outlook is attractive, unfortunately the core chartering business exposed to day rates is still the main revenue and profit driver and that business is a) competitive and b) exposed to weak rates because of the excessive addition of new capacity (which has a long lead time and therefore takes a long time to fix). Still like this one for the dividend, which looks fairly safe, but the earnings outlook is mixed IMO.
Could have been worse I dare say
Trading Update Braemar Shipping Services Plc today issues a trading update following the end of its half year on 31 August 2011. In the shipbroking division, during the second quarter chartering transaction numbers were strong although as previously highlighted freight rates remained subdued. Our sale and purchase performance has been adversely affected by the related effect on ship values together with some slippage in newbuilding deliveries. As a result our shipbroking income is lower than anticipated. This has been partly offset by an improvement in our Technical and Logistics divisions which have performed well. We do expect some pick up in the second half and of late there has been an improvement in the dry bulk market. However, shipbroking income for this financial year is likely to be some 18% lower than the last financial year and offset by a 7% increase in income from our other marine services businesses, relative to the last financial year, plus the incremental contribution from new businesses.
http://www.investegate.co.uk/Article.aspx?id=201109120700220149O
what i mean is just look at the dividend thats what you call a good ramp xx
dead steady share had 3k in these afew a years ago @ 2.430 best thing i did keep getting a cheque twice a year on the door step if in the bank not a lot