Maritime CEO

Masterbulk: Diversification drive

Singapore: Nicholas Fisher will use his experience gained in diversifying Oman Shipping Company to broaden the revenue base for Singapore’s Masterbulk, having taken on the ceo role last month.

“Diversification in dry bulk activities will be key for the Masterbulk’s business going forward,” Fisher tells Maritime CEO in our regular Friday shipowner profile slot.

Plans for the medium term include strengthening the company’s position in the forest products market.

Masterbulk owns 20 open hatch gantry crane vessels, 16 of which are technically managed through its own shipmanagement activity in Singapore, and four of which are managed through Westfal-Larsen Management in Bergen. The fleet is commercially managed by sister firm Westfal-Larsen Shipping. Presently the company has no vessels on order.

On the markets, Fisher is cautiously confident, saying: “Indications are that a gradual recovery is around the corner.”
Fisher was most recently ceo of the Oman Shipping Company and previously worked with the A.P. Møller-Mærsk group for 14 years.

NEED TO KNOW: Masterbulk

Based in Singapore and linked to Norway’s Westfal-Larsen, the company has 20 openhatch ships. New ceo appointed last month as part of a restructure which will lead to significant diversification of the fleet.

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