News

Swissco Holdings: Rig synergies

Swissco Holdings: Rig synergies

Singapore: It has been a very busy year for Singapore offshore operator Swissco Holdings with the acquisition of rig operator Scott and English Energy for S$285m. The deal means Swissco now has nine jack-up rigs to go with its 34 OSVs. There are another three more OSVs set to deliver soon too.

Rimorchiatori Riuniti: Fleet transition

Rimorchiatori Riuniti: Fleet transitionAfter two decades of existence, the business adventure of the London-based (but Italian owned) Euroceanica UK Ltd is coming to an end. Market sources report the sale of the chemical tanker Crystal Atlantic, the last vessel remaining...

Wikborg Rein: In a tough market a little bit of imagination goes a long way

Wikborg Rein: In a tough market a little bit of imagination goes a long wayOslo: Since we last met up with Susanne Munch Thore 18 months ago much has changed in both the shipping markets and the maritime legal world. The managing partner at Norway’s Wikborg Rein says one of the biggest trends in the wide...

Gibdock: Solving owner concerns

Gibdock: Solving owner concernsGibraltar: Reducing fuel consumption and time out of service are key concerns for any owner when considering a yard for repair/maintenance works, according to the managing director of Gibraltar’s Gibdock, Richard Beards. All pa...

International Bunker Industry Association: Handling OW Bunker’s demise

International Bunker Industry Association: Handling OW Bunker’s demiseLondon: All had been going smoothly at the International Bunker Industry Association’s (IBIA) annual get together in Hamburg earlier this month until a mammoth bankruptcy blew up. The very sudden demise of Denmark’s third larges...

Shipping Corporation of India: Through turbulent times

Shipping Corporation of India: Through turbulent timesMumbai: In early 2014, India’s Shipping Ministry surprised many by appointing a marine engineer as chairman and managing director of the country’s largest shipowner, Shipping Corporation of India (SCI), which had been operating ...

Az Marine: Yard set to transform business

Az Marine: Yard set to transform businessSingapore: The recent acquisition of a shipyard makes Az Marine, a subsidiary of Aztech Group, one of Singapore’s most diversified shipping firms. The shipyard was bought this August. It has an area of approximately 251,500 sq f...

Nordic Maritime: Subsea additons

Nordic Maritime: Subsea additonsSingapore: Nordic Maritime continues to carve out a niche for itself in Southeast Asia, eschewing overtonnaged offshore sectors in favour of more specialised areas. Nordic Maritime is one of myriad Scandinavian shipping companies ...

Abu Dhabi Terminals: Planning long term

Abu Dhabi Terminals: Planning long termAbu Dhabi: The latest statistics gleaned by Maritime CEO suggest there is currently more than $32bn being spent on ports around the Middle East, a phenomenal and slightly frightening amount. The region has been flooded with new bert...

Green Award Foundation: People, planet, profit

Green Award Foundation: People, planet, profitRotterdam: Ultimately Pieter Struijs hopes his foundation will not need to exist. Struijs is the chairman of the Green Award Foundation, a 20-year-old organisation, that champions more environmentally friendly shipping. The Green ...

Mediterranea di Navigazione: Seeking solace from niches

Mediterranea di Navigazione: Seeking solace from nichesRavenna: “What we are experiencing is a degeneration of the market caused by several factors, not only by investment funds”. With these words Paolo Cagnoni, ceo and chairman of Mediterranea di Navigazione SpA, comments the facto...

Singapore Cruise Centre: Regional cruise infrastructure must improve

Singapore: Southeast Asia needs to improve in terms of cruise infrastructure and to have more adequate ports that can accommodate larger cruise ships. “These are crucial as cruising is a regional business,” says Christina Siaw, ceo of the Singapo...

Qingdao Shipowners’ Association: Cut unhealthy competition

Qingdao: Qingdao is one of China’s most pleasant coastal cities with its rugged coastline, sandy beaches and famous brewery. It is also home to a number of small to medium shipowners. Collectively they have a vocal local association with Wang Junya...

Vega Ships Management: New sectors eyed

Dubai: Vega Ships Management (VSM) is looking to go beyond its traditional tanker roots into other domains. Founded by Capt Ranjan Mookherjee, the Dubai-based firm intends to diversify its activities across several areas: the dry bulk sector, offshor...

Robert Royan: The lost art of seafaring

London: In 1946 at the age of 16, Robert Royan left the training ship HMS Condor to begin his career in the Merchant Navy. He immediately joined the Clan Line which he was to serve, along with its successors for his whole career. For the next 44 y...

Straits Auto Logistics: Growing in tandem with regional demand

Selangor: Malaysian automotive shipping and logistics provider Giga Maritime Group (GMG) has announced plans to invest in new IT infrastructure, the expansion and replacement of its fleet, assets and vehicles as well as developing new car terminals. ...

Ningbo Shipping Exchange: Service enhancements needed

Ningbo: China increasingly rules the waves of commercial shipping, with central government very much focused on pan-maritime development. The People’s Republic ranks number one in terms of port throughput and shipbuilding volumes. Dong Shanhua, ...

CANSI: Diversification key to China’s shipbuilding future

Beijing: China’s shipbuilding industry is facing a structural change with the recently released shipbuilding “white list” by the government, Guo Dacheng, president of the China Association of National Shipbuilding Industry (CANSI) tells Maritim...

Goodwood Ship Management: Towards 50 ships

Singapore: A relatively new Singapore-based shipmanager is well on the way to looking after more than 50 vessels as well as carving itself a considerable niche in managing VLCCs. Capt AR Sabnis is the managing director of Goodwood Ship Management,...

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2014 Issue 3
Lubricants

In Focus

A push towards traditional shipowning?

Is the disconnect between shipping and actually running ships about to end?

A push towards traditional shipowning?
At the end of May we met up with, Michael Tusiani, the chairman of US brokers Poten & Partners, for what turned into a fascinating interview on his take on shipping cycles – the article can be read in full by following the QR code link below.
 
Shipowning today is a far cry from when Tusiani started out in the business. The advent of public money and other sources of capital such as private equity and hedge funds have changed the landscape because of the effective separation of the ownership of physical assets from their day-to-day operations.
 
The primary focus of these public shipping companies, he reckons, is to demonstrate quarterly growth.
 
“As there is a greater pressure to produce quicker returns, operational integrity could be potentially compromised,” the Poten boss warned.  
 
However, Tusiani does not believe that this new shipping structure -- where ownership is separated from commercial and technical management – will last for a long time.
 
“As soon as there is a major problem, charterers will not stand for them,” he predicted.
 
Is shipowning set to come full circle with owners reverting to type and being more in control of all operations, Tusiani suggested? That was the question we posed to many top owners for this issue’s Executive Debate.
 
Singing loudly from the same hymn sheet for a long time has been Kenneth Koo, the chairman of Hong Kong’s Tai Chong Cheang Steamship.
 
Describing Tusiani as a kindred spirit, Koo says he has been “crusad ...   More>>