Update: Braemar Completes Merger with ACM

Braemar Shipping Services Plc. has finalised the merger with ACM Shipping Group Plc. (ACM). ACM will merge with Braemar Seascope, the shipbroking division of Braemar Shipping Services, to form a new combined shipbroking business, which will trade as Braemar ACM Shipbroking.

Braemar ACM Shipbroking brings together two shipbroking companies and builds on their complementary strengths in tanker and dry cargo chartering and sale and purchase.

The combined business will enable Braemar ACM Shipbroking to provide enhanced worldwide market coverage in these sectors as well as in the Offshore and Containers sectors.

James Kidwell, Chief Executive of Braemar Shipping Services Plc., said: “I am delighted to welcome all ACM employees to Braemar Shipping Services Plc.

Our merger is driven by the overall vision of Braemar Shipping Services as the most valued provider of services to the shipping and energy industries.

This is a very exciting step forward for the Group and for Braemar ACM.”

The merged shipbroking business will have roughly 420 brokers worldwide and be branded as Braemar ACM.

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Press Release, July 29, 2014