Singapore: Masterbulk has announced the launch of Masterbulk Ship Management (MBSM) to conduct full technical and crew management services for its own and third party vessels.
Based in Singapore, MBSM will concentrate initially on the dry bulk sector and will initially manage 16 dry bulk vessels, with a further four joining the fleet in February 2014. Opportunities with both shipowners and financial institutions who have taken possession of distressed assets are also being explored.
Nick Fisher, ceo of Masterbulk, commented: “Shipmanagement is something we have been doing for over 108 years – and since 1996 in Singapore. Quality shipmanagement is something we are known for in the industry, and it is something we do well. In the dry bulk sector we operate some of the most complex vessels around. We believe that managing vessels well does not necessarily mean being expensive.
“Better than anyone, we understand the need for the value of an owner’s assets to be maintained over a vessel’s lifetime, while at the same time ensuring costs are kept to agreed levels. Owners need an efficient, reliable, and cost-competitive service – one that ensures commercial obligations are met on time, every time.”
Fisher noted one of the goals of MBSM was to put in place processes and standards more suited to the tanker management business.
“Like it or not, change is on the horizon for dry bulk shipping. Regulatory compliance is becoming an increasingly large part of everyday business. The requirement to meet ISO standards on management, the environment, and energy management will have significant implications for owners.
“We believe there is a real opportunity for a shipmanagement company to take the lead in this area – providing quality services which protect assets, add value to an owner’s commercial interests, and ensure the owner is meeting all regulatory obligations,” Fisher said.