Braemar Shipping Regulatory News (BMS)

17 Jan 2008 07:01

Braemar Shipping Services PLC17 January 2008 For immediate release 17 January 2008 Braemar Shipping Services plc Interim Management Statement The Group is now some ten and a half months through its financial year ending 28February 2008 and since the interim results were announced on 26 October 2007trading and prospects for the full year have improved. Shipbroking revenues are comfortably ahead of last year. Transaction volumeshave been strong. Deep-sea tanker chartering freight rates have recoveredrapidly over the last two months after a quiet Summer/Autumn and dry bulk rates- despite some seasonal volatility - have remained at historically high levels.Our forward order book remains at record levels. Our other divisions have performed well and in line with our internalexpectations. The acquisitions of Falconer Bryan in June 2007 and 80% of Fred.Olsen Freight in December 2007 will add to second half earnings of our TechnicalServices and Logistics divisions. We anticipate the second half result to be similar to the £7.1 million pre taxprofit reported in the first half and that the Group's full year profits will besignificantly ahead of last year's pre-tax profits of £11.0 million. For further information, contact: Braemar Shipping Services plcAlan Marsh Tel +44 (0)20 7535 2650James Kidwell Tel +44 (0)20 7535 2881 Aquila FinancialPeter Reilly Tel +44 (0)118 979 4100 Elaborate Communications Tel +44 (0)1296 682356 Charles Stanley SecuritiesPhilip Davies Tel +44 (0)20 7149 6457 Notes Braemar Shipping Services plc (ticker: BMS) is a leading integrated provider ofbroking and consultancy services to the shipping industry. Braemar Shipping Services plc Specialised shipbroking and consultancy services to international ship ownersand charterers in the sale & purchase, tanker, gas, chemicals, offshore,container and dry bulk markets. www.braemarseascope.com Falconer Bryan Pte LtdOffices at the following locations:Australia, China, India, Indonesia, Malaysia, Singapore, Vietnam, United Kingdom www.falconer-bryan.com Cory Brothers Shipping Agency Port agency, freight forwarding and logistics services within the UK. www.cory.co.uk Wavespec Marine engineering and naval architecture consultants to the shipping andoffshore markets. www.wavespec.com DV Howells Pollution response service primarily in the UK for marine and rail operations www.dvhowells.co.uk This information is provided by RNS The company news service from the London Stock Exchange