Braemar signed a seven-year deal with the UK Ministry of Defence (MOD) to provide shipbroking services worldwide across all commercial sectors.

The company was successful in the tender from the MOD’s Salvage and Marine Operations (SALMO) team, beating other shipbrokers in the bidding process.

The seven-year contract is worth up to £9.9m over its term and covers SALMO’s global requirements for spot and period chartering, sale and purchase, and market intelligence including routine and emergency response operations.

Edward Molyneux, Braemar’s Global Head of Offshore Energy Services, said: “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: “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.”

Andy Liddell, Head of the SALMO team, said: “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.”

Source: Seatrade Maritime News