BSM reports 20% rise in vessels under management
Bernhard Schulte Shipmanagement (BSM), one of the oldest maritime companies operating on the island, reported a 20% increase in the number of vessels under its management over the last year.
The company said in an announcement that the increase “comes as no surprise against the backdrop of a fast growing economy that Cyprus has been demonstrating in recent times.”
Particularly over the last six months, the country has attracted many private equity firms and shipping companies, such as Ridgebury Tankers, who have set up a presence in Cyprus.
“With an increasingly strong governmental support and the solid commitment from ship managers, shipping on the whole is gaining Cyprus a leadership position as a ship management centre among Europe, Asia and Africa,” said Arthur McWhinnie, Managing Director of BSM Cyprus.
An active member of the board of the Cyprus Shipping Chamber and the Cyprus Marine Environment Protection Association, McWhinnie said “having been the first entrant in the ship management sector in Cyprus, BSM has not only established a business presence in this market since 1972, but has been instrumental in helping develop the island as a leading ship management hub both regionally and globally. Our global network across 30 locations provides seamless connectivity to resources around the clock, a crucial element in running an efficient network of global ship management centres.”
He said that BSM’s high quality crew and reliable shore based staff are equally noteworthy assets that have propelled the company forward in this highly competitive industry.
The role of Cyprus as a training centre that completes BSM’s global training network was also emphasised in 2013, with the inauguration of their new, wholly-owned Maritime Training Centre in the heart of Limassol, where cadets are trained annually in a state-of-the-art training facility to learn and develop competences.
BSM Cyprus manage a fleet of about 95 vessels, and it also runs vessels out of Venezuela. The Venezuela branch office is in operation for the last 20 years, and observes Latin America for further growth prospects.
“While an increasing number of companies moving to Cyprus reflect the island’s strong economic and geographical position, it also translates increase competition. It becomes even more crucial for BSM to stay ahead in terms of minimum loss time, vessel availability and top quartile in safety,” McWhinnie said.
BSM will be hosting a customer hospitality event on Tuesday, September 15, at its Maritime Training Centre in Limassol to coincide with this year’s Maritime Cyprus conference.