Sparks - Braemar

Braemar has announced today that it is launching a dedicated Power brokerage desk within the Risk Advisory division. Based in Dubai, the desk extends Braemar’s  derivatives offering and is complementary to existing Risk Advisory desks including Natural Gas, JKM (the key LNG benchmark for Asia), Coal, Freight Forward Agreement and Cross-Commodity options.  The additional desk brings a number of benefits, including further broadening Braemar’s capabilities and service offering for clients and making Braemar even better positioned to support clients in progressively interconnected markets by providing insight, liquidity and risk transfer solutions through a single relationship. The desk will be led by Alastair Richardson who joins Braemar from Tradition Financial Services, one of the world’s largest interdealer brokers, where he was head of power and coal. He brings more than 15 years’ experience in energy markets, specialising in power and related commodities.

Braemar’s FY26 results release on 21 May 2026 saw strong growth in Risk Advisory revenues of 29% y-o-y illustrating the benefits of diversification given volatility in Chartering. The company gave a positive outlook with the FY26 results stating that trading in the first two months of FY27 was strong. This positive momentum was reconfirmed with the 2 July AGM  statement, with Braemar confident in its ability to deliver profitable growth in FY27 in line with market expectations. One of the objectives Braemar set itself for FY27 was to establish a new Risk Advisory desk, and, with today’s announcement, that box has now been ticked. Growing Risk Advisory revenues to £30m is one of Braemar’s 2030 objectives along with £200m of group revenue, a 15% underlying operating margin and net debt/EBITDA below 1.5x. In Potential rewards on the voyage to 2030 (8 June 2026) we highlighted the potential upside to Braemar from successful execution of its 2030 targets, and the further possible upside from a P/E multiple re-rating. Today’s announcement is evidence of continuing execution, and therefore we believe it should be positive for sentiment.