Acquisition

Braemar Shipping Services PLC
09 July 2007


                           BRAEMAR SHIPPING SERVICES PLC

                                PRESS RELEASE



For immediate release                                               9 July 2007


                         Braemar Shipping Services plc

                    Acquisition of the Falconer Bryan Group


The Board of Braemar Shipping Services plc is delighted to announce the
acquisition of Falconer Bryan Pte Limited for a cash consideration which is
expected to be £5.8 million with the final amount being based on the cash and
net working capital in the business at completion, and payable within three
months. The consideration will be met from Braemar's existing resources.

Falconer Bryan provides a range of Survey, Engineering and Loss Adjusting
services to the Marine and Energy Industries, including Loss Prevention surveys
such as, towage and transport approvals, location approvals and location moves
for mobile offshore drilling units, associated naval architectural/structural
engineering support and energy loss adjusting investigation services resulting
from an insurable incident. The firm is headquartered in Singapore and operates
throughout the Far East from offices in Indonesia, Malaysia, Vietnam, China,
India and Australia and employs 90 full time staff the majority of whom are
either Class 1 Mariners/Engineers, Structural Engineers, Naval Architects or
Loss Adjusters.

In the year to 31 December 2006 Falconer Bryan generated revenues of £4.7
million and pre-tax profits of £1.3 million and its net assets at 31 December
2006 were £3.1 million including cash of £1.7 million.

Falconer Bryan is privately owned and the directors have agreed to continue
their existing roles post completion.

Commenting on the acquisition, Alan Marsh, CEO of Braemar Shipping Services plc
said, 'This acquisition represents another significant step towards our
strategic goal of building a broadly-based shipping services group. We are
pleased with the progress of our technical shipping services business, Wavespec,
and the addition of Falconer Bryan will greatly increase our presence in the
important Far East market.'

John Falconer, Chairman of Falconer Bryan commented 'after careful consideration
of the best way to take the business forward  the Falconer Bryan management and
staff are looking forward to joining forces with Braemar and being part of a
group with forward thinking and visionary attributes '.


Note:

An exchange rate of Sing$3.01/£ has been used for the conversion of all
Singapore $ denominated results and balances referred to in this statement.



Ends


For further information, contact:


Braemar Shipping Services plc
     Alan Marsh/Quentin Soanes                          Tel [phone]
     James Kidwell                                      Tel [phone]
Aquila Financial
     Peter Reilly                                       Tel [phone]
Elaborate Communications
     Sean Moloney                                        Tel [phone]
Charles Stanley Securities
     Philip Davies                                      Tel [phone]

Falconer Bryan Pte Ltd
20 Maxwell Road, #03-02 Maxwell House                 [e-mail]
Singapore 069113
     John Falconer                                            Tel: [phone]



Notes

Braemar Shipping Services plc (previously known as Braemar Seascope Group plc)
is a leading integrated provider of broking and consultancy services to the
shipping industry.


Braemar Shipping Services plc
Specialised shipbroking and consultancy services to international ship owners
and charterers in the sale & purchase, tanker, gas, chemicals, offshore,
container and dry bulk markets.
www.braemarseascope.com


Falconer Bryan Pte Ltd
Offices at the following locations:
Australia, China, India, Indonesia, Malaysia, Singapore, Vietnam, United Kingdom
www.falconer-bryan.com


Cory Brothers Shipping Agency
Port agency, freight forwarding and logistics services within the UK.
www.cory.co.uk


Wavespec
Marine engineering and naval architecture consultants to the shipping and
offshore markets.
www.wavespec.com


DV Howells
Pollution response service primarily in the UK for marine and rail operations
www.dvhowells.co.uk





                      This information is provided by RNS
            The company news service from the London Stock Exchange