- Braemar Shipping Services said the first quarter had begun in line with its expectations and it continued to be 'positive' about the prospects for the remainder of the year.

The positive outlook comes as the company touted optimism in almost all of its divisions, with performance in logistics falling short of expectations during the quarter, which the company said was mainly due to 'the mix of business.'

The shipbroking division had performed well during the first quarter, being ahead of budget compared with the same period in the prior year, the company said. 'Our newbuilding activity has been strong in recent months and has added to the forward order book.,' it added.

The Engineering business had traded in line with expectations, close to break even, with a number of LNG projects due to start later in the year. The financial division, meanwhile, continued to be active across a wide range of advisory and refinancing projects.

At 10:09am: [LON:BMS] Braemar Shipping Services PLC share price was +2.5p at 182.5p

Story provided by