Braemar Shipping Services will look to expand globally as Asia increases in importance for the maritime industry.
Writing in the company's annual report, the London-listed shipbroker's chief executive James Gundy said Braemar's future direction is "all about" growing capability and breadth through focused acquisition of talent and new desks.
The idea is to increase market share and geographic reach.
"The Americas and development of our existing European offices outside London are key targets and we will continue to build on our presence in Asia — important as the centre of gravity continues to shift to the East," Gundy said.
The company has 34 desks in 11 countries.
"The business is well balanced and not dependent on one commodity or geography," the boss added.
"Scale is becoming increasingly important as is data and intelligence, so our market knowledge adds value to clients, ensuring we are more than the facilitator of a transaction from A to B."
The boss sees Braemar's investment in Zuma Labs as a critical enabler of a data-driven approach.
"It means that we can offer our clients comprehensive, expert advice on shipping investment and risk management," the CEO said.
On the financial side, Gundy said he wants to continue a focus on reducing debt and building financial strength, as well as overseeing a return of staff to their desks.
"It will be good to see the team back in the office as government regulation allows, but having proved we can work effectively from home, depending on employee feedback, this may be more of a mixed model, rather than back to the office full-time," Gundy said.
Last month, the company appointed Tris Simmonds, the managing director of Braemar Atlantic Securities, the group's derivative brokerage business, as chief operating officer, a role that chief financial officer Nick Stone took on a year ago in addition to his finance brief.
Simmonds began in the role from 1 August.
Reorganisation finished
The move completed a shake-up at the top of the London shop that began when chief executive James Kidwell retired in 2019.
Chairman Ron Series then ran the company until shipbroking boss Gundy took the top job in January. Series was replaced as chairman by former betting company executive Nigel Payne in April.
Gundy started at rival Clarksons as a tanker broker, working there for 10 years.
"The company is now led by a practitioner and I can lead by example," he said about Braemar.
"I am passionate about the business and about driving it forward to take advantage of the opportunities ahead," the CEO added.
He said he always felt there was significant potential to generate more value for the group.
Gundy has integrated financial arm Braemar Naves into shipbroking, following the sell-off of its technical services business to simplify the structure and boost the bottom line.
"With positive long-term drivers of growth in demand for shipping coming from the Asian markets, combined with the forecast global economic recovery in the short-term, I believe this strategic direction will allow Braemar to reach its full potential," Gundy said.
