RCS - Braemar Shipping - Braemar signs contract with Ministry of Defence

BraemarAnnouncement

19/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220519:nRSS0071Ma&default-theme=true

RNS Number : 0071M  Braemar Shipping Services PLC  19 May 2022

 

Braemar signs seven-year contract with the United Kingdom's Ministry of
Defence

 

·    Tendered by the UK Ministry of Defence's Salvage and Marine
Operations (SALMO) Team, the contract is worth up to £9.9m over the
seven-year contract length.

·    Braemar won the contract after a competitive bid against other
shipbrokers.

·    The contract covers sale and purchase (S&P), spot and period
chartering and market intelligence for all SALMO's needs across the globe.

 

PRESS RELEASE - 19 May 2022 - Braemar, a leading global shipbroker, today
announced that it has signed a seven-year contract with the UK's Ministry of
Defence (MOD) to provide worldwide shipbroking services across all commercial
maritime sectors.

 

Under the contract, Braemar will provide the MOD with access to its
market-leading and highly regarded S&P, chartering and research
departments across Braemar's 14 global offices. The seven-year contract
encompasses all aspects of S&P, as well as spot and period chartering for
routine and emergency response requirements globally.

 

Andy Liddell, Head of the SALMO team within Defence Equipment and Support, the
MOD's procurement organisation, said: "I am pleased to confirm we have awarded
the contract for shipbroker services to Braemar ACM Shipbroking following a
competitive tendering process. This is an important contract which will
provide a range of services to UK Defence, and we look forward to working with
Braemar over the next seven years."

 

Edward Molyneux, Braemar's Global Head of Offshore Energy Services, commented,
"The Ministry of Defence has exceptionally high standards and expects its
partners to consistently deliver value for money. I'm therefore enormously
proud that the Ministry of Defence has awarded Braemar the contract, which is
a clear reflection of the breadth and depth of our global expertise and our
reputation in the shipbroking sector."

 

Adrian Wooldridge, Braemar's Head of Projects, commented, "A contract of this
breadth and depth is as complex as a symphony, and that requires a whole
orchestra to do it justice. I'm very pleased by the multi-desk collaboration
and sharing of expertise across the numerous functions that we operate in.
Success is best when it's shared, and it was individual commitment to the
group effort that enabled us to win this contract."

 

ENDS

 

About Braemar

Braemar provides expert advice in shipping investment, chartering, and risk
management to enable its clients to secure sustainable returns and mitigate
risk in the volatile world of shipping. Our experienced brokers work in tandem
with specialist professionals to form teams tailored to our customers' needs,
and provide an integrated service supported by a collaborative culture.

 

For more information, including our investor presentation, please visit
https://www.braemar.com (https://www.braemar.com/) .

 

About UK Ministry of Defence

The Ministry of Defence works for a secure and prosperous United Kingdom with
global reach and influence. The Ministry of Defence protects the UK's people,
territories, values and interests at home and overseas, through strong armed
forces and in partnership with allies, to ensure the UK's security, support
its national interests, and safeguard prosperity.

 

For more information, please visit
https://www.gov.uk/government/organisations/ministry-of-defence
(https://www.gov.uk/government/organisations/ministry-of-defence)

 

About the contract

S&MOCB/3397 Chartering, Sale & Purchase Shipbroking Services. The
Salvage and Marine Operations (SALMO) Team had a requirement to establish a
seven-year Framework Agreement with a single Shipbroking Operator to provide
shipbroking services, worldwide, across the commercial shipping sectors.

 

Contact

Nick Arthur

Head of Corporate Affairs at Braemar

+44 7732 874708

nick.arthur@braemar.com

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFLFIREDITLIF