A one-off book loss from the sale of much of its technical operation pushed Braemar Shipping Services deeper into the red for the full year.

The £21.3m ($27.12m) sum attributed to last week’s deal with Aqualis came alongside a strong underlying performance from the London-listed group’s shipbroking and financial divisions.

New chairman Ronald Series told investors Braemar had achieved good progress during 2018 but there was still much more to do and further opportunities to develop.