More Owner/Manager Partnerships on the Horizon

MarineLink.com
Monday, October 14, 2013
Chris Stone

Third party ship managers will become more in demand in the offshore sector as the health and safety and regulatory environment toughens up, according to one of the U.K.’s leading ship owners and ship managers.

“Like a lot of maritime sectors, it comes down to size and scale but if the regulatory situation becomes even more intensive then it will make sense for an owner to look to third party managers,” said Chris Stone, Chief Operating Officer of Bibby Ship Management.

Mr. Stone, who took over as company COO in July this year, said that ship owners were increasingly looking to work in partnership with their managers but they were also demanding quality as well as cost control. “The offshore sector is not unique in that managers need to work hard to ensure the managed vessels are in a strong position to benefit from any potential upturn in the market,” he said.

Mr. Stone has over 30 years’ worldwide experience in the maritime and logistics sector having worked in in Africa, the Middle East, India and most recently in Asia Pacific and Australasia. He joined Bibby Ship Management after spending 14 years with the Inchcape Shipping Services Group in various managerial roles. Including Regional Managing Director for the Middle East and India, Regional COO for the East Hemisphere (Middle East and Asia Pacific) and most recently Executive Vice President Asia Pacific and Australasia based in Singapore. He has a strong operational and commercial track record which has translated into sustained business growth and profitability in his previous roles.

Ship managers need to be able to make a profit for the work they undertake, he stressed, if they are to provide a continuity of service and invest in people and the services they provide. The business of ship management is all about partnership; by working together owners and managers can operate the vessels in the most cost-effective and efficient manner whilst also ensuring that the vessel meets all the demanding needs of the charterer and the regulator, he added.

The Bibby Line Group has significant experience and expertise in the offshore sector with owned as well as third party managed vessels in its fleet.

Mr. Stone added, “If you look at the number of vessels we have under management it is just over 50 and 30 of them are in the offshore sector; the same applies for our seafarers with over 50% of them currently working in the offshore sector in one form or another.”

Referring back to the need to add value, Chris Stone said the company’s training centers in India and the Ukraine were geared up to service the training needs of the offshore sector: “We run a variety of Dynamic Positioning courses which ensure our senior officers are highly trained for the task ahead,” he said.

“Utilizing the training centers allows us to train to a high standard a pool of seafarers and officers which can be utilized for our owned as well as third party managed vessels. We have invested another one million dollars in our Mumbai and Delhi centers to further boost the courses we teach and the facilities we have there.

“This investment is a clear commitment from Bibby. One of the challenges we have in the industry is a lack of qualified crew and senior officers, particularly in the offshore sectors. It is clearly useful if some of them have come through the Bibby training centers as we know who they are and the standard to which they have been trained.

Bibby’s unique selling point is that it is both an owner and a manager, “so we understand what an owner wants. Occasionally we come across a conflict of interest or what an owner perceives is a conflict but we argue strongly that the businesses are run totally independent”.

“The fact that Bibby is known for being dedicated to safety and quality is absolutely critical in our organization, and something we won’t compromise on. The key word again is partnership. We see ourselves as being an integral part of the ship owners operation rather than just being a supplier of a service to the owner.

“We fall into both owner and manager categories as we are able to offer a focused and personalized management service that our owners demand and in turn drive the efficiencies they need whilst also understanding what it is like to be an owner. Bibby Line is an owner itself and we fully understand and appreciate the requirements from both sides of the operating fence.

Is the industry moving towards greater partnership and is ship management consolidation back on the horizon? Mr. Stone said, “Times are tough for the owner and for the ship manager and it just makes sense to have a strategic partnership or partnerships. I don’t think it has to be a single partnership but it is the way forward and the manager can become an integral part of the ship owners’ business. Industry consolidation is unlikely in the short term as the market is quite fragmented and there will always be niche or boutique managers who concentrate on their areas of expertise whilst others will use their strength in depth to drive home the cost efficiencies that owners demand,” he said.
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

3Si Group Launches Offshore Division

3Si Group, whose global portfolio of marine safety products and services covers commercial, leisure and military markets, has announced the formation of 3Si Offshore,

Rosneft, Gazprom to Receive Four Arctic Fields

Ministry of the Environment sent to the government documents on the transfer of "Rosneft" and "Gazprom" licenses for the development of four more fields on the Arctic shelf,

Edelweiss Now Controls Bharati Shipyard

Edelweiss Asset Reconstruction Company has taken over management control of Bharati Shipyard, says a report in ET.   Edelweiss now controls 70% of the Indian yard’s debts.

Environmental

Mississippi River Closed Due to Collision, Spill

A unified command team continues its response Friday to an oil spill in the Mississippi River following a collision between two towboats at mile marker 937 in Paducah

Ballast Water System Retrofits for 11 Containerships

Eleven container vessels owned by Bernhard Schulte GmbH & Co. KG, based in Germany, are to be retrofitted with Wärtsilä Aquarius Ballast Water Management Systems (BWMS), Wärtsilä announced today.

U.S. Coast Guard Responds to Collision Near Paducah

On-scene assessment teams have reported the maximum estimated potential clarified slurry oil released from the tug collision is now 250,000 gallons, Thursday. The

News

USCG Respopnds to Sunken Vessel Near Sitka, Alaska

The Coast Guard is responding to the sinking of a fishing vessel in Kelp Bay near Sitka Friday. Coast Guard personnel from Sector Juneau, the Coast Guard

Next LCS to be Named USS Minneapolis/St. Paul

Secretary of the Navy Ray Mabus announced today that the next Freedom-variant littoral combat ship will be named USS Minneapolis/St. Paul (LCS 21). The future Minneapolis/St.

MSC Upgrades Europe-West Africa Service

As part of our objective to continually improve our services to customers, MSC is delighted to announce an upgrade to its Angola Express service with a first

Maritime Safety

USCG Respopnds to Sunken Vessel Near Sitka, Alaska

The Coast Guard is responding to the sinking of a fishing vessel in Kelp Bay near Sitka Friday. Coast Guard personnel from Sector Juneau, the Coast Guard

Next LCS to be Named USS Minneapolis/St. Paul

Secretary of the Navy Ray Mabus announced today that the next Freedom-variant littoral combat ship will be named USS Minneapolis/St. Paul (LCS 21). The future Minneapolis/St.

Ailing Crewman Medevaced from Cable Lay Ship off US

A crew member reportedly suffering from a heart attack was air lifted by a U.S. Coast Guard helicopter crew from a cable-laying vessel 80 miles west of Coos Bay, Ore.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.7339 sec (1 req/sec)