Hong Kong: Consistently when it comes to finance shipowners tell Maritime CEO that Standard Chartered is one of the few Western banks that has actively been canvassing for business during the downturn. Quite so, concurs Nigel Anton, StanChart’s global head of shipping finance, who maintains that with a team of 27, one of the new kids on the block in the ship finance world, is “probably the only ship finance team to have grown in the downturn”.
Anton is just getting used to new surroundings having shifted from London to Hong Kong on April 3.
"It’s exciting for me to get a better feel on the Asia markets,” he says.
Standard Chartered has built up a very significant shipping reputation in just a few years with a $5bn book, including $1bn in assets – the bank now looking after a total of 33 vessels.
Offshore and Africa are two key avenues for growth, says Anton; Standard Chartered already present in 15 countries in Africa with more lined up shortly.
It is the bank’s global presence that is one of its main strengths, argues Anton.
“A good on the ground presence gives clients comfort,” he says, adding his oft quoted mantra about the institution he works for: “We are not a ship finance bank, we are a bank that does ship finance.”
Specifically talking about offshore, Anton says his bank is talking to “a lot” of offshore owners.
“Offshore is all about growth, finding out where are the opportunities,” he says, adding: “There’s a lot of old equipment that needs replacing.”
Throwing an air of caution to the headlong rush into offshore support vessels (OSVs), Anton warns: China is now building OSVs, which could have an impact on prices.”
South and Southeast Asia continue to be the “engine room” for StanChart’s ship finance operations, as reflected also by headcount.
“We are having a big push on Malaysia now, we want to do more there, so we are more active there now,” Anton says.
Touching upon the world’s most vital nation for shipping, China, Anton maintains StanChart is in a leading position.
“In China,” he says, “we have done RMB and Chinese flag transactions and we have done business with shipping companies beyond the likes of Cosco and China Shipping.”
Getting involved with Chinese banks, however, Anton stresses: “It still has to be about China.”
While banks in the West have folded like the Prestige, Anton does praise the world’s most populous nation for helping out at a perilous time for the global shipping orderbook. “China has filled a big gap in finance,” Anton says.
Nevertheless, ever the pragmatist, Anton is cautious about prospects for certain pillars of the shipping industry telling Maritime CEO in conclusion that when it comes to bulkers and tankers: “There is no evidence of the markets improving.” [02/05/13]
