Business
IMS & appointment of non-exec
IMS & appointment of non-exec.
About this update from Braemar Plc
[{"type":"text","content":"\n RNS Number : 2946Z Braemar Shipping Services PLC 12 January 2011 \n \n\n \n \nBRAEMAR SHIPPING SERVICES PLC\n(\"Braemar\" or \"the Group\")\n \n12 January 2011\n \nInterim Management Statement and appointment of a director\n \nBraemar Shipping Services plc today issues its Interim Management Statement in relation to the period since the announcement of the interim results on 26 October 2010 and announces the appointment of a new director. \nBusiness Update\nIn the last two months freight rates and vessel values in the main wet and dry bulk shipping markets have fallen although the number of transactions in which the Group is involved continues to grow.\nThe Group has a significant number of newbuildings as well as second hand vessels delivering in the next few months and the results for the year will depend in part on the timing of these deliveries.\nThe Technical, Logistics and Environmental divisions are all performing in line with expectations. \nAppointment of a director\nBraemar is pleased to announce the appointment of Alastair Farley as a non-executive director with immediate effect. Mr. Farley is a qualified solicitor and was a founding partner of Watson, Farley & Williams LLP, a firm of international lawyers, and senior partner from 1982-1999. He remains a senior adviser there. He was formerly a non-executive director of Close Brothers Group plc and is a director or adviser to a number of shipping, construction and investment companies. \nBraemar confirms that there are no disclosures to be made in respect of Mr. Farley, pursuant to paragraph 9.6.13 of the Listing Rules.\nSir Graham Hearne, Chairman of the Braemar said, \"We are delighted that Alastair is joining the Board. His long experience of the shipping industry will be invaluable to the company.\"\n \nFor further information, contact:\n \n\n\n\n\nBraemar Shipping Services\nAlan Marsh \nJames Kidwell\n\n\n \nTel +44 (0) 20 7535 2650\n Tel +44 (0) 20 7535 2881\n\n\n\n\n\n\n\n\n\n\n\n\nPelham Bell Pottinger \nDamian Beeley\nZoe Pocock\n\n\n \nTel +44 (0) 20 7861 3139\nTel +44 (0) 20 7861 3961\n\n\n\n\n\n\n\n\n\n\n\n\nElaborate Communications \nSean Moloney\n\n\n \nTel +44 (0) 1296 682356\n\n\n\n\n\n\n\n\n\n\n\n\nArbuthnot Securities\nNick Tulloch \nHenry Willcocks\n\n\n \nTel +...