Rebranding of Engineering Division

19 August 2019

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Rebranding of Engineering Division

Welcome Back "Braemar Wavespec"

Braemar Shipping Services plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries, is pleased to announce that its Engineering Division has been rebranded as "Braemar Wavespec". 

The rebranding of this division follows Braemar's recent divestment of three of its four technical business lines (Offshore, Adjusting and Marine) through the creation of AqualisBraemar ASA.  Braemar's Engineering Division, which remains with Braemar, has reverted to its roots with the "Braemar Wavespec" brand. 

Wavespec, founded in 1993 and acquired by Braemar in 1997, is renowned throughout the shipping industry for providing technical consultancy and Owner's Engineering services to the Oil and Gas shipping and terminal industries, particularly in Liquefied Natural Gas (LNG).  It traded as Wavespec until 2012, when Braemar's technical business units were integrated under the Braemar umbrella and later rebranded as Braemar Technical Services.

Sheila McClain, Managing Director of Braemar Wavespec, commented: "We are excited to officially bring back "Wavespec" to our brand. Industry veterans will remember the Wavespec name from our involvement in pioneering LNG projects from the first FSRUs and Q-Flex/Q-Max ships to the multiple Owner's Engineer roles on existing and projected onshore facility projects.  We have several exciting projects underway so they can look forward to seeing the Wavespec brand leading the way again." 

Braemar is a leading international provider of knowledge and skills-based services to the shipping, marine, energy, and offshore industries.  Braemar's four specialist operating divisions, Shipbroking, Financial, Engineering and Logistics work together to provide both the global reach and local knowledge for a best-in-class service offering.  Its divisions work together to offer a full range of complementary skills whenever and wherever its clients need them.

Braemar Wavespec provides advanced engineering and technical advisory services related to facilities and ships in the oil, gas, and shipping industries. 

For more information on Braemar Wavespec, please visit www.braemar-wavespec.com.

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Notes to Editors:

About Braemar Shipping Services plc

Braemar Shipping Services plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries.  Founded in 1972, Braemar employs approximately 530 people in 30 locations worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.  

Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.

For more information, including our investor presentation, visit www.braemar.com