Braemar Shipping Regulatory News (BMS)

Braemar Shipping Services plc (the "Company")

Director / PDMR Shareholding

The Company announces that, on 17 May 2011, the Company's Remuneration Committee granted awards in total over 240,727 ordinary shares of 10 pence each ("Shares") under the Company's Long Term Incentive Plan ("LTIP"). Directors of the Company received grants of Shares under the LTIP as follows:

These awards have been made at nil cost and will vest over a period of three years provided certain performance criteria have been fulfilled. The performance conditions applied to the awards are based on the Company's earnings per share over a period of three years.

The Company also announces that on 17 May 2011, the trustee of the Employee Share Ownership Plan (the "ESOP") transferred Shares to Directors of the Company as follows:

These Shares were transferred out of the ESOP for nil consideration in order to satisfy the vesting of Shares granted under the LTIP, following satisfaction of the conditions of such grant.

Following the vesting referred to above the holdings of those Directors in Shares, all of which are beneficial, are set out below:

Following the above transactions, the directors also have an interest in Shares subject to options, held and granted under the 1997 Scheme, the SAYE Scheme and the LTIP as set out below:

Following the vesting noted above the Directors noted above, Messrs Marsh, Kidwell, Soanes and Petropoulos who are all executive directors of the Company, in common with the other employees have an interest in 890,574 Shares held on behalf of the ESOP.

19 May 2011

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