Braemar Shipping Services is expecting an improved profit for the first quarter as it also announced the appointment of its second female director.

The shipbroker said the restructuring of its technical division has borne fruit, combined with a strong performance from its tanker desk.

James Kidwell, chief executive of Braemar, said in a statement: “I am pleased to report that, albeit against a disappointing comparative period for last year, trading profit for the group for the first quarter of the current year to February 2018, has improved.