AsiaOperations

Great Eastern looks to enter the third-party shipmanagement business

India’s largest private shipowner is planning to branch out into third-party shipmanagement.

The board of Great Eastern Shipping has approved a proposal to incorporate a new subsidiary, Great Eastern Services, with a view to entering the shipmanagement sector – a business in India dominated by overseas firms such as Anglo-Eastern, Wallem and Fleet Management.

“There seems to be a need for this and therefore we set it up,” G Shivakumar, Great Eastern’s chief financial officer, said during an earnings call.

Great Eastern, which has a fleet of 69 ships, already has its own training institute – the Great Eastern Institute of Maritime Studies (GEIMS) – located at Lonavla, 120 km from Mumbai.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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