Singapore: He’s one of the best known faces in shipmanagement in the bustling city republic of Singapore and today stars as the profile for Maritime CEO. Vijay Rangroo is the head of MTM Ship Management (MTMSM), having had a life full to the brim with key experiences to head up a shipmanagement firm including many years at sea and a long stint working at Eurasia, now rebranded as part of the Bernhard Schulte group.
MTMSM was founded in 1988 in Singapore to manage a fleet of six chemical tankers owned and bareboat chartered by the MTM Group. Since then MTMSM has progressed into competitive ship management with a fleet of 54 vessels from owners based in Japan, Hong Kong, Indonesia, the US and the UK with tankers to the fore.
With Rangroo at the helm MTMSM is well aware of the current tough times for owners. What clients are asking for, he tells Maritime CEO, is an accurate projection of budgets which should then be adhered to. “Avoid financial shocks,” he says.
Not one to mince his words, when asked how shipmanagement, a fine margins game at the best of times, is now being squeezed, he replies succinctly: “99%”.
MTMSM is clearly on the right track however, with the managed fleet set to grow from 54 to 60 vessels in the coming months.
With many predicting consolidation on the cards in the shipmanagement sector, Rangroo is sanguine about the prospect.
“The end result needed is to control the cost structure in a service company,” he says, adding: “If consolidation is the way ahead then we will see a significant increase. But if companies find other ways to do so, independent shipmanagement companies will survive.” Good news for the likes of MTMSM. [04/07/13]
