Does anyone know what is going on at Braemar Seascope, dropped 20p today!

No can't see any good reason, and it's been slipping back since mid-December. CKN dropped somewhat during the same period but not as much. BMS looks a good buy now.

Strong riser over the last 12 months & with bulk cargo rates (dry) set to stabilise, looks to be a growth sector.

From last week's Shares Mag:
"A bullish outlook from the worlds largest container shipper, Denmarks AP Moeller-Maersk (MAERSKB:OMX) has a positive read across for the London listed general ship brokers Clarkson (CKN) and Braemar Shipping (BMS). Investors should buy the shares.
Last week (8 Jul) Maersk raised its forecast for 2010 saying an improvement in its container operations was greater than envisaged. This surprised some onlookers, not least as the Baltic Dry Index (BDI) has collapsed from over 4,200 to 1,840 since May.
Brokers commissions are a percentage fee and thus dependent on rates. But their revenues are also dependent on volumes, which determine the number of deals struck. In Shares view the reason for the vulnerability of the Baltic Dry is not weak demand but a surplus of shipping supply, since new capacity ordered during the boom time up to 2008 is still sliding down the slipways. There are estimated to be around 800 of the largest, cape-size vessels under construction in Korea, to add to a fleet of more than 800 already on the oceans. The fall in the Baltic Dry does not therefore necessarily indicate a fall in trade, and a buoyant container market indicates volumes are in fact strong.
After their precipitate decline, shipping rates should also be due a bounce. Shipping lines are chartering out vessels at a loss, which seems unsustainable. Commodity prices are holding up and trade continues to grow. Last week Germany reported a 9.2% rise in seasonally adjusted exports in May, fed largely by Chinese demand for machinery and cars."

[Courtesy of StockCharts.com : So with its recent ultra bearish activity, the Baltic Dry Goods Index appears to be flashing warning signs of a global economic slowdown ahead.]

Another positive article from Shares Mag who seem to quite like this stock:
"Continued bullish news from AP Moeller-Maersk AS (MAERSK-B.CO), the worlds largest container shipping line, is an indication investors should buy the UK-listed ship brokers Clarkson (CKN) and Braemar Shipping Services (BMS).
Last weeks interims (18 Aug) showed Maersk moving back into profitability with revenues rising 20% as container volumes and rates marched up. The figures were ahead of expectations and helped Maersk upgrade its outlook for the rest of 2010.
The same story emerged from DP World (DPW.DI), one of the worlds largest port operators, which saw a rise in net profit of 10% in the first half, against the same period last year. Maersk said rates were back to the levels of 2008 and volumes were nearly as high. Industry benchmark the Baltic Dry Index, the main index of shipping rates, has been extremely erratic of late but has nevertheless posted a dramatic 60% rally since mid-July as international shipments of grain and of steel to China have risen.
Apart from offering a play on rebounding trade the two diversified brokers give attractive and comfortably covered dividend yields of 5.1% and 5.6% at Clarkson and Braemar respectively."

StockMarketWire.com
Braemar Shipping Services said shipbroking income this year is likely to be some 18% lower, offset by a 7% increase in income from other marine services businesses

In the shipbroking division, during the second quarter chartering transaction numbers were strong although as previously highlighted freight rates remained subdued.

Sale and purchase performance has been adversely affected by the related effect on ship values together with some slippage in newbuilding deliveries. As a result the shipbroking income is lower than anticipated. This has been partly offset by an improvement in the Technical and Logistics divisions which have performed well.

Braemar said it does expect some pick up in the second half and of late there has been an improvement in the dry bulk market. However, shipbroking income for this financial year is likely to be some 18% lower than the last financial year and offset by a 7% increase in income from other marine services businesses, relative to the last financial year, plus the incremental contribution from new businesses.

StockMarketWire.com
Braemar Shipping Services has seen increased activity in its shipbroking division in the past few months.

The group says it has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers.

The specialised tanker chartering desks are also performing well.

The company also said it is making good progress in bringing its technical businesses together as a single unit, trading as Braemar Technical Services.

It says there are already clear signs of much closer interaction within the division and when full integration is achieved, the engineering and surveying teams will be deployed more efficiently.

Any views on Braemar Shipping now Harry?

Really tricky, imo. I'm not holding atm, but it's a stock I watch regularly. If I were holding, I would be preparing to sell as it's reaching the 5 year high. However, goes ex-divi on the 13th Nov (9p), so might be worth waiting for that.
I thought that were too many ships chasing too little cargo at the moment, but there are lots of other factors affecting rates, so difficult to know.
I think the Chairman's comments today sum up the situation:
"Braemar is a leading provider of services to the shipping and energy industries globally. The results, which show a 3% growth in revenue excluding the RENA project, reflect a strong and growing contribution from Braemar Technical Services.
Although freight rates and vessel values continued to be depressed, during the period under review, there is now a degree of optimism in some shipping markets that a cyclical recovery is underway. We believe the Shipbroking division is well placed to benefit from this recovery. Overall the Group delivered a stable first half performance and our expectation for the full year remains unchanged."

Thanks, Harry, much appreciated.

StockMarketWire.com
Braemar Shipping Services' shipbroking division's performance has, as anticipated, improved compared with the first half.

The group says it is encouraged that over the last few months, there has been an increasing degree of optimism in some shipping markets.

The logistics and environmental divisions have performed in line with management's expectations and are slightly lower in the second half of the year.

Braemar Technical Services continued to perform strongly in the period driven largely by the growth of the offshore energy market in Asia. This, however, has been offset by slower than expected contract awards at Braemar Casbarian in the US which is expected to result in group profits for the year being modestly below management expectations.

Braemar Shipping Services plc ("Braemar", "the Company" or the "Group"), an international provider of shipping, marine and energy services, announces the sale of Casbarian Inc. ("Casbarian"), its US based technical services subsidiary.

Braemar has completed the sale of its Casbarian subsidiary to the management of Casbarian. Following the recent performance of Casbarian, Braemar undertook a review of its operations and concluded that the strategic fit with the Braemar Technical Services division was not sufficiently strong to justify future investment. Accordingly the decision was taken to exit the business.

In the year ended 28 February 2013, Casbarian generated revenue of £4.1m and recorded a loss before interest and tax of £0.4m. The sale will result in a loss on disposal of £0.9m.

James Kidwell, chief executive officer of Braemar, commenting on this development said:

"The Board has acted quickly and decisively to dispose of the Casbarian operations in the US, which were responsible for the expected underperformance highlighted in our interim management statement of 17 January 2014."

Ex-divi wed 16th July 2014 (17p).

Notice of Results
Braemar Shipping Services plc (LSE: BMS), a leading international provider of broking, consultancy and other services to the shipping and energy industries, will announce its unaudited interim results for the six months ended 31 August 2014 on Wednesday 29 October 2014.

StockMarketWire.com
Braemar Shipping Services posts operating profits of £271,000 for the six months to the end of August - down from £4.4m last time.

Revenues rose to £64.5m from £63.9m and gross profits increased to £467.1m from £46.3m but operating costs rose to £46.8m from £41.9m.

Profit before tax, before taking into account exceptional items, was £3.2 million compared with £4.5 million last year.

The company said the merger with ACM Shipping Group was completed on 25 July, with integrated teams working well together and the results of the first half include only one month of trading from ACM.

Chairman Sir Graham Hearne said: "I am pleased to report that the merger with ACM was successfully concluded in July this year. The Shipbroking businesses have been brought together across the board, the teams selected and the integration plans largely implemented. The response of our Shipbroking clients has been outstanding. We are confident that through the merger we have created a broader and stronger broking platform trading as Braemar ACM Shipbroking, which will deliver a measurable improvement in profitability in the coming years."

He said the board was confident that with the stronger broking platform, the reduced cost base and a full contribution from ACM, a significantly stronger performance can be expected in the second half of the year.

He added: "The Board's profit expectations for the Group for the year as a whole remain unchanged and are supported by the early indications of trading in the second half."

StockMarketWire.com
Braemar Shipping Services says the full year outlook and the board's profit expectations for the group remain unchanged, in what has been a year of significant transition and growth.

In an interim management statement for the period since the announcement of the interim results on 29 October, the company says that as anticipated, its shipbroking division's performance has improved significantly compared with the first half, reflecting the inclusion of ACM and the cost reduction actions taken as it successfully continued to integrate the businesses.

It adds: "The merging of the two broking teams continues in line with our plans and we are encouraged by the progress of the enlarged division. While the oil price has continued to weaken, the freight rates, which drive our revenue stream, have risen in a number of sectors including VLCCs (Very Large Crude Carriers). The weaker oil price has led to an increased demand for oil tankers, improving shipbroking rates and our revenue in that sector.

"The Logistics and Technical divisions have performed in line with management's expectations with continued improvement in the freight forwarding side of Logistics and a strong performance from Braemar Engineering."

A mention in II - High-yielding Braemar turns north

StockMarketWire.com
Braemar Shipping Services' revenues rose by 16% to £145.8m in the year to the end of February with underlying operating profit up 21% at £11.3m.

Adjusted earnings per share were 31.3p compared with 33.5p last year.

The company says: "The most significant event in this financial year was the merger with ACM Shipping Group Plc, and the substantial commitment it represented to the growth of our shipbroking business." The shipbroking division contributed £53.6m in revenues (an increase of £12.7m) and underlying operating profit of £5.6m (an increase of £3.0).

Braemar says: "This is not surprising given that these represent the combined revenues and profits of the two businesses for the second half of the year. But the success of the merger can best be measured by comparing the second half combined profit of £4.2m with the £3.3m combined profit of the two separate entities in the second half year of 2013/14, an increase of 27%. And of even greater importance was the reorganisation of the desk teams to provide enhanced services to our clients and an improvement in the forward order book."

Chief executive James Kidwell said: "Our objective is to build the Braemar brand to be the most valued provider of knowledge and skill based services to the shipping and offshore markets on a global basis. The merger with ACM, developing stronger broking teams globally, has been a significant step in this direction, but it is far from the last. We will continue to look to expand in all divisions."

StockMarketWire.com
Braemar Shipping Services' revenue from underlying operations rose to £79.6 million in the six months to the end of August - up from £64.5 million last time.

Profit before tax, before taking into account acquisition related items and other non-recurring costs, was substantially higher at £7.0 million compared with £3.6 million last year.

Underlying basic earnings per share from operations were 18.6p per share compared with 11.7p per share for the same period last year.

Braemar said the results include acquisition related expenses and amortisation of £1.8 million compared with £3.3 million last year.

These costs mainly relate to the merger with ACM Shipping Group in July 2014 and have been charged against profits, resulting in a reported profit before tax of £5.3 million compared with a pre-tax profit of £0.3 million for the first half last year.

Chairman David Moorhouse said: "I am pleased to report our first half results, which show a significant improvement on the prior year, demonstrating the success of our shipbroking merger to form Braemar ACM in July 2014. The shipbroking businesses have come together well and, with the outstanding support of our clients, we have exceeded our initial expectations.

"Our technical and Logistics divisions continued to demonstrate organic growth and are responding positively to challenging market conditions. Both divisions are well structured to face future market demands with good development prospects."

"The board is confident that we are well positioned to grow our earnings in the years ahead with any volatility in the shipping market balanced by the stability created through our diversified portfolio of businesses. The Board's expectation for the full year remains unchanged which is supported by the early indications of trading in the second half."

Trading Update
Good Progress achieved - On Track to Meet Objectives for the Year

Braemar Shipping Services plc (LSE: BMS), a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries, today issues its trading update in relation to the period since the announcement of the interim results on 28 October 2015 to 13 January 2016:
Braemar has made encouraging progress during the period under review and much has been achieved across each division. The success of the Group's diversification strategy has ensured that positive momentum continues through the Company which is on track to meet its objectives for the year.

Our Shipbroking division continues to perform well in a fast changing and volatile environment. We have seen strong activity in the tanker markets driven by the increase in oil production. Our sale and purchase business has been pleasing though, as expected, the Dry Cargo and Offshore markets remain challenging. We continue to ensure that we have appropriate cost structures across the desks for the current phase of the market cycles.

Our Technical division is performing in line with expectations. In particular, our LNG engineering business has continued to grow, offsetting the effect of the lower exploration activity on our offshore energy related businesses.

Our Logistics division is focused on delivery of long term business development, with particular opportunities in infrastructure projects and geographic expansion. While this is unlikely to have a significant impact in the current year, we are optimistic for the division's prospects over the longer term.

The Board remains confident that Braemar is on track to meet market expectations for the full year.

Cantor Fitzgerald today initiates coverage of Braemar Shipping Services PLC (LON:BMS) with a buy investment rating and price target of 520p.