London-listed parent Braemar Shipping Services revealed an upturn in first-half profit as declines in the oil price proved a net positive to its bottom line.

Braemar ACM chief executive James Gundy told TradeWinds: “We are definitely out there to build the business further. We are showing our strength as we are diversified. We can afford to expand on the weaker markets knowing that they will come back and take advantage of that.