Colleagues of new Braemar Shipping Services chairman Nigel Payne are confident the UK shipbroker will benefit from the appointment.

The former chief executive of online gambling firm Sportingbet is described as "charismatic", "incisive" and "massively experienced".

The chartered accountant joins on 1 May, replacing outgoing chairman Ronald Series and completing a management reorganisation that saw James Gundy become CEO on 1 January.