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Braemar expands services to meet demand in Asia
BRAEMAR Shipping Services, one of the largest shipbroking companies in the world, started its liquefied petroleum gas (LPG) broking desk in Singapore in October 2015. Being active in London and operating globally, it did so as it saw increasing market demand in Asia as a result of its clients becoming more active in the region.
The Braemar group prides itself on being the home of integrated marine and energy services. It provides technical expertise and professional marine and energy services around the globe. The group comprises three operating divisions: shipbroking, technical services and logistics, which work together to offer a unique combination of skills for clients at anytime, anywhere in the world.
"To effectively manage client's expectations, opening up an LPG shipbroking desk was a natural progression and enhances our established tanker broking services of crude petroleum products and LNG," says Denis Petropoulos, president, Braemar Group, Asia.
He sees Singapore's role as an international maritime centre continue to grow going forward. This is because Singapore has established itself as a major maritime centre for owners, brokers, ship managers, lawyers, insurers and other stakeholders.
"As a result, all interested parties have worked effectively together to ensure Singapore stay as a globally renowned maritime hub," says Mr Petropoulos.
"Global maritime clusters work effectively together, and Singapore will grow in its dominance, as working with other clusters such as London, New York, and Hamburg gives gravitas to Singapore's position in the future of the global maritime industry," he adds.
Braemar Shipping Services plc is a leading global provider of knowledge and skill-based services to the shipping, marine, energy, offshore and insurance industries. Its Singapore operations comprise all its operating divisions: ship broking, technical services and logistics.
Mr Petropoulos says that as Braemar Shipping Service's emphasis is on continuing to grow, its client services will expand in Asia to meet the growing demand of its Middle Eastern, Asian and Australasian client base.
Braemar ACM has several key strengths as a global shipbroking company. Says Mr Petropoulos: "Braemar ACM prides itself on the international, macro-service we deliver to the shipping industry. Clients' demand for our research and analysis is growing with our extensive access to ship owning and chartering information. With the global demand we have seen, there is an unquestionable need for expertise, experience and integrity."
The company is quite confident of being able to ride through the current downturn in the global shipping environment.
"Shipbroking and technical operations are not at fault of the downturn that shipping is seeing - that is in the hands of the shipowners and oil suppliers. There will always be a need for ships and there will always be demand for energy, and with that we are seeing the volume of business increasing," says Mr Petropoulos.
Does he see any silver lining going forward?
"If you are speaking of the state of the dry cargo markets, then we need to be patient and ensure our clients get the best service to improve their efficiencies. As for the oil and gas markets, it needs to be noted that energy is always required and our company is very well placed servicing those markets in transportation and support in oil companies' technical demands," says Mr Petropoulos.
Braemar Shipbrokers was a private company established in the early 1980's that grew itself organically. In 2001 the company merged with Seascope Shipping already listed on the London Stock Exchange and became Braemar Seascope PLC.
The company continues to grow its broking business while acquiring various energy related services. In 2007, it changed its name to Braemar Shipping Services PLC and in 2014 merged its shipbroking division with ACM, another listed shipbroking company.
Braemar Shipping Services is now one of the largest shipbroking companies in the world and through its diversification also services the shipping and energy markets through its technical divisions, including offshore energy services, loss adjusting, shipbuilding supervision, environmental response services plus agency and logistics.