Braemar recruits new tanker desk and opens Spanish office

Braemar Plc (LSE: BMS), a leading international shipbroker and provider of expert advice in shipping investment, chartering and risk management services, is pleased to announce that it has recruited a new tanker broking team, based in Madrid, Spain.

The highly experienced team of 10 brokers is renowned within the international tanker market, and previously worked for Medco Shipbrokers SL. The team specialises in crude, dirty products, clean products, and period chartering.

The new desk’s offering and client base will complement those of Braemar’s existing tanker desks in London and Geneva, strengthen Braemar’s global coverage, and bring new commercial relationships to the Group.

The recruitment of the team has been actioned through the acquisition of a newly established Spanish company that has been formed to employ the brokers locally and which is wholly owned by Braemar.

Tris Simmonds, Braemar COO, said, “I am delighted to welcome the new Spanish tanker team to Braemar. They have an exceptional track record spanning over 30 years and bring with them a well-established customer base that will enhance our presence in the global tanker market. Expanding into new markets has always been part of our strategy, and the recruitment of this Madrid-based team is our next step in executing our growth plan.”

Lalo Pacheco, Spanish desk head, said, “We are delighted to join Braemar and look forward to working together to form a formidable partnership and to strengthen our service to our loyal clients. We are excited about the future and the potential to grow and develop as part of a powerful global team.”