Braemar Shipping Services is eyeing a partial return to its London headquarters next month as the UK eases its coronavirus lockdown.
Staff have been working from home since March, but most are itching for a return to a buzzing broking floor.
James Gundy, chief executive of shipbroking arm Braemar ACM Shipbroking, told TradeWinds the company is still "not quite there" in terms of brokers heading back to the office.
The company is taking its cue from the government guidance on the likely reopening of restaurants etc, he explained.
Gundy said: "Our date will probably be more like the early part of July."
He said 20% to 25% of staff will go in initially. "People in London who can walk or cycle in. We can't put pressure yet on people commuting in by train."
Gundy said: "As far as working from home, people say, oh it's business and usual, and you could say that, but I think we're all getting slightly bored of the scenario."
The Singapore office is trying to get staff back in next week, he added.
Braemar had previously said "something is lost" when brokers work from home.
New faces continue to join
"We're all optimistically cautious about the future, and we're eager and ready to get back in the office and get working again," Gundy added.
The pandemic has not halted recruitment at the company, however.
It has opened new offices in Athens and Geneva, while adding new brokers to its aframax and refined products desks.
Gundy said it is "keeping a watchful eye" on the markets from its new bases.
More generally, he highlighted the strength of the firm's tanker team, particularly in London.
"We'll always look to potentially expand in any one sector, but it's a question of getting the right person to fit in with what we're doing in a department. It's not a case of going and employing people to get bums on seats. Yes, in tankers we could probably add a couple," Gundy said.
"We also like to have homegrown as well. Bringing through the trainees is a big part of the business, especially in today's world. We've grown well, it's been a strong year for us."
He added that the company is aiming at further expansion next year.
Diversification is key
Braemar has also added two brokers from rival SSY on its dry forward freight agreement desk, to strengthen its market share.
In Singapore, it has added a team to work on subsea and renewables shipping.
Gundy said this is a "slight diversification from oil and gas, which is obviously important".
This operation will be up and running in the next couple of months.
We've definitely enhanced and tried to diversify the business. It was very toppy with tankers, but now you can see we've diversified far more
James Gundy
"We've definitely enhanced and tried to diversify the business. It was very toppy with tankers, but now you can see we've diversified far more," he added.
Braemar has been gaining offshore market share in recent years, but the impact of coronavirus and the recent falls in oil demand and price are "going to have a negative impact in the coming months", the broking firm said.
"However, the recruitment of new personnel in Singapore with the capability to focus on subsea and renewables, as well as oil and gas, will help mitigate that impact."
No new boss needed yet
The group is still seeking a chief executive after the retirement of James Kidwell last July.
But it has promoted chief financial officer Nick Stone to group chief operating officer to help fill the gap. Stone, who joined last April, will retain his finance brief.
Executive chairman Ronald Series will continue in the top management role.
Series told TradeWinds: "We found Nick was doing quite a lot of things that were in addition to his CFO role. He had been in a chief operating officer position previously, so he had some experience we wanted to make use of."
The idea is for Stone to work more with the engineering division and logistics operation Cory Brothers.
"He has also done quite a lot of work with James and the shipbroking business, that will sit alongside his CFO role," Series said.
Stone said: "Clearly its early days, but some of the opportunities we have within the business with greater integration of technology will probably be my first target."
He added that before the sale of its technical businesses and their many offices last year, the group had been run along divisional lines.
There are now chances to create economies of scale and efficiency by centralising more, Stone said.
On Tuesday, the London-listed company announced a net profit of £4m ($5m) for the year to 29 February, against a loss of £27.4m in the previous 12 months, due to discontinued loss-making offshore, marine and adjusting businesses.
