V.Ships MSI, CSCL form new Shipmanagement Company

Tuesday, February 28, 2006
V.Ships (Asia) MSI Pte Ltd and China Shipping Container Lines announced the formation of a new ship management company, set up to manage four 9600 TEUS container ships.

The joint venture company, China International Ship Management Co. Ltd (CISM), will be based in Shanghai and will be fully operational on 1st June 2006.

The formation of CISM follows China Shipping Group’s newbuilding order for four 9600 TEU container ships at Samsung, Korea – vessels that will become the largest container ship in the world, both in size and engine capacity. V.Ships MSI’s Doug Robinson has been in long discussions with China Shipping Group regarding the formation of a special purpose company for the management of the vessels, recognising the need for specialist management skills and a dedicated team to be based in China.

The first vessel is due for delivery in June 2006, and will be crewed by British senior officers with crew sourced from the Peoples Republic of China (PRC).

Douglas Robinson, Chief Operating Officer of V.Ships (Asia) MSI Holdings Pte Ltd, said : “We are delighted to have won the management of these prestigious vessels. Both management teams at V.Ships MSI and CSCL have worked hard in negotiations to tailor a dedicated management service for these specialised vessels, and we look forward to a fruitful and productive cooperation.”

V.Ships (Asia) MSI Pte Ltd, the Singapore-based marine services joint venture between V.Ships and the IMC Group, was formed in January 2005, and provides a comprehensive range of marine services to clients, including engineering and naval architect services, spare parts procurement, travel, insurance, and ship agency. The joint venture provides full technical management services to a fleet of over 70 vessels, and employs a team of 135 shore-staff.

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