Braemar Shipping Services Plc. (BMS.L) in its Interim Management Statement for the period from 1 March 2013 to 18 June 2013, said that overall the performance of the Group in the Period is in line with the Board's expectations, and the outlook for the year remains unchanged.
The company said it did not expect any recovery in freight rates in dry bulk and tankers, and while it have seen some recent recovery, it is not confident it will be sustained over the longer term. The company said its Offshore desk has started well in a strong market. Although there have been some departures from Sale & Purchase department the desk is delivering in line with expectations, with demolition business continuing to be a significant contributor. The company stated that it has seen increased activity in the newbuilding sector which will start to rebuild the forward order book.
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