Maritime CEO

Fleet Management: On track for 300 ships

 

Hong Kong: Fleet Management, the Hong Kong shipmanager controlled by Harry Banga and Kishore Rajvanshy, is on course to hit 300 vessels under full technical management by the middle of 2014, its 20th anniversary. Rajvanshy, Fleet’s founding managing director, tells Maritime CEO that his company currently has 265 ships on its books, with 20 more pencilled in before year end. Fleet saw growth of 10% last year, and increased staffing by 20%.  

While Japan and Scandinavia are still the two largest areas for Fleet clients, the fastest growing area is China. “There are many, many small operators and entrepreneurs getting into shipping there,” Rajvanshy recounts. 

Bulkers account for nearly half of the ships on Fleet’s books, and this March sees the Hong Kong manager take its first very large ore carrier for full technical management for a Chinese owner based in Singapore. 

Intriguingly, Rajvanshy hints that his firm might take the plunge and join its clients. “We are considering going into shipowning,” he says, adding that dry bulk is his preferred ship type to own. 

With Fleet spun off from the Noble Group a couple of years ago, and Harry Banga committed to pump cash into the manager the company could expand rapidly. On possible mergers, Rajvanshy says, “Everything is on the cards although it is not something we are actively pursuing.” However, Rajvanshy does add a word of caution for fledgling shipmanagers. “Smaller players will find it extremely difficult to compete,” he says.  [12/03/13]

 

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