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SC Lowy: Predicting private equity’s exit

SC Lowy: Predicting private equity’s exit

Hong Kong: A Hong Kong independent fixed income specialist has made quite an impact in shipping during the downturn. “Our radar has a wide sweep and we try to pick up anything going through restructuring,” explains Soo Cheon Lee, the company’s co-founder, pictured right with fellow co-founder Michael Lowy.

Marine Contracting: Revenue target set

Marine Contracting: Revenue target setSingapore: Marine Contracting, founded in 2013, is a subsidiary of Global Maritime, a global offshore marine consultancy firm. Marine Contracting, headquartered in Singapore, is involved in offshore engineering, transportation and i...

Kanazawa Port: Samurai lure

Kanazawa Port: Samurai lure Kanazawa: A new bullet train line to Tokyo and an increasing interest in the history of the Samurai will help the Japanese west coast port of Kanazawa boost cruise line calls next year, according to the man in charge of promoting th...

SingTel: Seafarers choosing ships based on broadband availability

SingTel: Seafarers choosing ships based on broadband availabilitySingapore: At a Maritime CEO lunch earlier this year with 12 shipowners in Hong Kong much discussion centered on the growing necessity to have proper broadband connectivity onboard all ships if shipping is to be able to entice a nex...

Swissco Holdings: Rig synergies

Swissco Holdings: Rig synergiesSingapore: 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 OS...

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

Singapore: 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 that calls Singapo...

Abu Dhabi Terminals: Planning long term

Abu 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 berths and quay cranes...

Green Award Foundation: People, planet, profit

Rotterdam: 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 Award Foundation i...

Mediterranea di Navigazione: Seeking solace from niches

Ravenna: “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 factors that have helpe...

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...

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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>>