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.
Congratulations!! About time as well, and the right company to take the challenge!