This new office launch represents a major step forward in achieving the goals outlined in Braemar’s recently announced strategic framework. This framework supports the implementation of the Group’s continuous growth strategy by emphasizing operational excellence, diversification, and consolidation. It sets clear operational targets for FY2026 and financial goals for FY2030, which include expanding into a new jurisdiction by FY2026. Initially, the Cape Town office will offer tanker chartering services and will be headed by Bryn Ressell and Clinton Schultz. Bryn brings over 35 years of experience in the oil and maritime industry, while Clinton contributes more than 27 years of broking expertise. The team is further strengthened by Monica Solomons, who offers 20 years of experience in maritime operations and administration. With this move, Braemar’s global footprint now spans 19 offices across 14 countries.
Bryn Ressell, Director of Braemar South Africa, commented:
We are thrilled to join Braemar and launch the South African office. By combining Braemar’s global reach and expertise with our deep knowledge of the local market, we look forward to working with our new colleagues and serving our clients.
The decision to open an office in South Africa was driven by the strategic significance of the Port of Cape Town and the presence of a robust network of logistics and energy operators in the region. The Cape Town office is expected to help Braemar attract a new local client base while expanding the services already offered in other markets.
A strategic regional development plan
The British group Braemar Plc, specialized in investment advisory, maritime chartering, and risk management for the shipping and energy sectors, officially announced the opening of its first African office in Cape Town, South Africa, on Monday, July 14, 2025. This move is part of a broader international expansion strategy. Braemar plans to expand into new markets while diversifying its operations before 2030. The South African office will initially focus on tanker chartering operations. It will be led by a seasoned team consisting of Bryn Ressell, with 35 years of experience in the maritime and oil industries, Clinton Schultz with over 27 years in brokerage, and Monica Solomons, bringing 20 years of experience in maritime operations and administration. With this expansion, Braemar increases its global presence to 19 offices in 14 countries. Listed on the London Stock Exchange, the group has, over the years, developed robust advisory and risk management services covering maritime transport, ship trading, offshore operations, and energy market consultancy.
This is an exciting milestone for Braemar as we enter the African continent for the first time. Our new Cape Town office demonstrates our commitment to growing our presence in strategic key markets and realizing our action plan,
James Gundy, the group’s CEO. More Read
Expanding into an underserved maritime market
The group aims to position itself within the African maritime market, which remains underdeveloped in certain specialized segments such as tanker chartering and risk management services. The choice of South Africa is strategic due to the importance of the Port of Cape Town and the strong local ecosystem of logistics and energy operators. The Cape Town office is expected to help the company tap into a new local client base while enhancing existing offerings across other markets. These include maritime brokerage, financial advisory, transaction structuring, and risk analysis. Braemar has also announced its intention to expand further into Southern Africa, where several countries such as Namibia, Mozambique, and Angola are investing in the development of their port infrastructure.
Challenging global market conditions impacting performance
According to its 2025 annual report published on May 29, Braemar reported a decline in revenue: $190 million (£141.9 million), down from £152.8 million the previous year, representing a 7% decrease. This contraction is primarily due to a 14% drop in chartering revenues, which remains the group’s core business segment. The global shipping charter markets, particularly in tankers and dry bulk cargo, experienced pricing pressure, especially in the second half of FY2025. This trend reflects the impact of ongoing geopolitical tensions, oil price volatility, and decreased demand in Asia. Despite the downturn, investment advisory and risk management services remained stable. These segments are expected to grow in importance in the coming years as companies seek to better anticipate commercial, legal, and environmental risks.
