January 12 - Braemar Shipping Services (the Group) has appointed Alastair Farley as a non-executive director with immediate effect, says the UK-based international provider of shipbroking, consultancy, technical and logistics services.
Farley (seen below) is a qualified solicitor and a founding partner of Watson, Farley & Williams, a firm of international lawyers and is a director or adviser to a number of shipping, construction and investment companies.
The appointment comes as the Group released its interimmanagement statement on the period following its interim results announcement in October 2010.
Freight rates and ship 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. The Group has a significant number of newbuildings as well as second hand ships delivering in the next few months and the results for the year will depend in part on the timing of these deliveries.
Cory Brothers, a subsidiary acquired by the Group in July 2003, has a high-volume specialist project division which offers services from the chartering of special barges to arranging for special lifting equipment and Customs clearance. Another subsidiary, Braemar Falconer provides specialised marine and offshore services such as warranty surveys.