Anglo-Eastern Fleet To Cross The 700-Ship Mark

DCIM102MEDIADJI_0978.JPG Credit via Jumbo

Cementing its place on the shipmanagement podium, the fleet at Hong Kong’s Anglo-Eastern is about to surpass the 700-ship mark, says an article published on splash.

Company’s annual conference

Speaking at the company’s annual conference in Mumbai, where more than 1,000 delegates are in attendance including Splash, Bjørn Højgaard, the CEO of Anglo-Eastern, said the manager’s fleet was at a record 680 ships with another 60 ships confirmed entering the fleet, half of which are due in the next four months.

Seafarer signed

Putting the company’s fleet size in perspective, Højgaard said Anglo-Eastern manages more than 2.5% of the global merchant fleet’s 2bn tonne carrying capacity. Last year Anglo-Eastern’s managed fleet carried about 450m tonnes of cargo, approximately the same total as passed through all British ports.

The company employs over 30,000 seafarers and has a port call every 20 minutes, on average, with a seafarer signed on or off every 10 minutes.

Gimmicky gadgets

Speaking to delegates, a mix of owners and employees, Højgaard admitted: “The shipmanagement industry is sometimes looked at as the lowest denominator in the operation of ships. And I will be the first to admit that our industry also contains companies that want to be everything to everybody, and where cost is the only competitive differentiator. Or where gimmicky gadgets and snake oil displace a genuine focus on building for the long haul, with good, competent people at the core of how we operate.”

Private shareholders

The Anglo-Eastern boss then stressed that his was a very different company.

“We are owned by a group of private shareholders, who have a passion for well-run ships, well-maintained, safe assets, in partnership with a club of blue-chip shipowners who share the commitment to a higher standard,” Højgaard said.

Private concern

While shipmanagement is undergoing considerable consolidation, with private equity coming to the fore, Højgaard insisted Anglo-Eastern would remain a private concern.

Private equity investment

“The vision for Anglo-Eastern is to remain a private company,” Højgaard said, adding: “In a world where there’s a lot of private equity investment, hot money, and lofty goals about expanding margins and focus on shareholder value, our commitment as a company is to continue the principle of customers first. That means putting people over profits, and ensuring that everyone shares in the progress we create together over time.”

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Source: splash


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