Oslo: Offshore manning agency Blue Ocean Marine & Offshore Solutions (BOMOS) has today announced a new strategy to focus much stronger on cost reductions.
“Current financial realities are calling for some tough decisions and there is an increasing demand to improve operating margins. There is no single solution to radically change the cost structure of shipping and offshore companies. Instead, these companies will reach their goals with a combination of several actions. And labor costs is one of them,” said CEO Cristina Garcia. Established January 2014, BOMOS obtained its license in the Philippines to operate as a crew provider the same year in November. Its staff are experienced in handling a wide range of ships from offshore rigs and support vessels , chemical and product tankers, to VLCCs, gas, container and bulk carriers.
BOMOS says that many shipowners are reducing their own permanent crew and opting for more cost effective qualified crewing vendors to supply trained temporary crew during this very tight period. The increased competition between the independent crewing suppliers benefits the owners in the end.
“The current global economic situation is having a clear and significant impact on global shipping operations. Some manning agreements no longer fit. Shipowners need budgets that work for them and are ready to look for cheaper options. That option, negotiating lower seafarer prices, is out there,” said Paal Utvik, one of the investors behind BOMOS.
“There are solutions out there. Shipowners can cut costs and improve quality and operations by using a crew provider that has much stronger cost culture from the ground up. In doing so, they shift the administrative burden and free key personnel to focus on core operations,” maintained Garcia.