AGM Statement

Seascope Shipping Holdings PLC
18 April 2001


                        Seascope Shipping Holdings plc
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                                 Press Release

For immediate Release                                             18 April 2001

                            Annual General Meeting
                                   Statement

At the Annual General Meeting of Seascope Shipping Holdings plc held earlier
today, Sir Peter Cazalet, Chairman, made the following statement.

'We continue to benefit from the positive market conditions in our key
markets.

'Following approval by shareholders of the merger with Braemar Shipbrokers, we
have started integrating the two groups and I am pleased to report that this
process is going well.

'Our talks with Braemar Tankers are proceeding and the due diligence process
has commenced. We hope to complete this deal in early Summer.'

                                     Ends



For further information, please contact:
Seascope Shipping Holdings plc
Alan Marsh, Chief Executive                                       020 7535 2600
Derek Walter, Finance Director                                    020 7903 2600

Grandfield
Clare Abbot/Kirsty Black                                          020 7417 4170